A Special Russam GMS Survey - 29th April 2009

UK Interim Managers under pressure with fewer jobs, more competition and a squeeze on daily rates.

78% predict recovery won’t happen for at least a year.

61% of Interims confident they can lead businesses through recession.

29 April 2009 – 66% of Interim Managers claim they are struggling as a result of the recession according the second ‘Recession and the Interim Manager’ survey of 10,000 Interims from leading Interim Management Provider, Russam GMS. Only 31% of Interims said they had not been affected by current market conditions and 3% were unsure.

Half of all Interims said their main problem was the fact there were fewer assignments on the market, and 19% claimed that clients are taking longer to make decisions. 11% complained that the market is now flooded with people who have been made redundant from their permanent jobs; 11% said they have had to lower their daily rates to secure work and 9% said that job interviews were much tougher than previously.

To cope in these difficult times, 48% said that networking was their number one priority; 16% plan to diversify into new markets, 16% to change careers, 11% to retrain and pick up new skills, while 9% said they will step up their marketing efforts.

61% remain confident that Interim Management is a good place to be right now in spite of these challenges. They also believe their expertise, results-driven focus and flexible way of working means they are a well qualified and ideal option for businesses wanting to get back on track quickly.

Interims are confident too that new market opportunities will emerge. 58% said that the best opportunities will come from professional services, 16% predict the public sector will bring fresh opportunities, with others seeing the utilities and charity sectors as good hunting grounds for new assignments.

A third of Interims believe that accountants will be most in demand, followed by business turnaround specialists (30%) and then by HR directors, project managers and procurement experts.

Interims are not expecting the economy to recover quickly any time soon though. 78% believe recovery will not happen for a year or longer, with 20% confident that recovery is three to six months away.

Charles Russam, Chairman of Russam GMS says, “Our second ‘Recession and the Interim Management survey’ has revealed clearly that the recession is now making its impact felt strongly, with fewer assignments around than six months ago, increased competition for assignments and a squeeze on daily rates. The situation has definitely worsened in six months when 48% of Interims complained the recession was affecting them then.”

“But like six months ago, Interims are upbeat, incredibly resilient and they remain confident fresh opportunities will emerge soon and that their services will be in demand by businesses when recovery comes. One thing is clear, to survive this downturn, Interims need to be true entrepreneurs and get creative in their networking, seek out new opportunities, ensure their skills are up to date and that they present themselves in the best way possible at all times. Interims that remain positive, resourceful and focused will be the ones snapped up post recession.”

Russam GMS Director, Jason Atkinson adds, “With more Interims on the market than ever before, there is a genuine opportunity for businesses to source some of the best talent in the UK and employ them in a flexible, cost effective way that suits their business needs and budget.

Unlike management consultants, Interims are cost-effective and they will get on with the job in hand quickly and will be able to deliver quick results that will get businesses on the road to recovery fast.“


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