Poll shows increased demand for interim managers

Nick Elvin

Demand for interim managers increased towards the end of 2014, according to the latest polling data from the Interim Management Association (IMA).

The survey showed the average number of enquiries per IMA member rose by almost a quarter (23%) for Q4 of 2014, compared to the same period in 2013. The number of new assignments also saw an increase – up by 5% compared to Q4 of 2013.

The average length of billable days rose by 12%, from 152 in the third quarter of 2014, to 172 in the last quarter. And, when averaging the last two years, billable days increased to 171 by the end of 2014, compared to 149 for 2013.

Accounting for 67% of all completed assignments during the last quarter of 2014, the private sector increased from 51% in Q3 of 2014. Last year saw the highest number of private sector assignments completed, averaging 69% for the entire year. The number of new assignments started remained stable quarter on quarter, with Q4 seeing the highest figure.

The finance industry dominated with 39% of all private sector assignments in the last quarter of the year. However, this decreased from 46% in the third quarter. The pharmaceutical and biotech industries had an 11% share in the last quarter, compared to 7% in Q3 of 2014.

Simon Drake, chairman of IMA, the body that represents the interim management provider industry, said: “These are positive trends for the interim management sector, and evidence of the fact that our industry is growing and becoming recognised globally.

“Equally, we are seeing more and more assignments coming in from the private sector, which saw the highest number since the survey started in 2006 – with a clear emphasis on the work of interim managers across the financial services industry. This sector has and always will be the biggest user of interims.”