Interim managers in demand in financial services
The results also showed demand across all sectors had risen for finance directors, reflecting a need for cost reduction programmes. Those who were proficient in several languages or had pan-European experience in M&A, fund raising, IPOs, joint ventures, investment appraisals and implementation of financial systems were especially in demand.
The survey took place in the first quarter of 2002 and involved 1,250 interim managers, of whom 542 were on assignment at the time. Some 25% of interims were working in financial services, the highest number among the sectors covered by the survey.
Although HR was the most sought after function in 2001 with 18% of interims involved in the sector, demand for them had dropped to just 8% in the latest survey, with activity primarily focused on change management and downsizing.
Strong growth was registered in areas such as business turnaround (13%), which also saw some of the highest interim rates of 800 and over per day.
Across industry sectors the bulk of all interim assignments (53%) lasted between six and 12 months. Some 16% averaged less than three months, 19% lasted from three to six months and just 12% exceeded a year in duration.
