16 April 2010 - Russam GMS scooped the award for Best Interim Recruitment Agency at last night’s Recruiter Awards for Excellence 2010 held at the Grosvenor House Hotel in London. | NEWS FOR CLIENTS - Click blue headings below to expand item |
| Press Releases Please click on the headings below to expand.  If you require more information or want to request an interview with a spokesperson from Russam GMS, please contact:Kathryn Hughes PR Manager 0203 2491072 or 07801 823839 Or please email: Kathryn Hughes. |
| Interim Management Market is bouncing back as Russam GMS reveals an 11% rise in activity levels |
| 19 July 2010 – The Interim Management market improved markedly in the last six months, according to the latest snap shot survey of 11,000 Interim Managers from award-wining Interim Provider, Russam GMS. Daily pay rates for Interims remained unchanged, with an average daily rate of £592 at June 2010 and also at December 2009. However, in the last six months pay rates for Interims on full time assignments increased by almost 4% from £579 to £603, whilst pay for part time Interims dropped nearly 8% from £616 to £586. Demand for Interim Managers varied significantly by discipline. HR specialists were in particular demand and their daily pay rate increased by 11% from £547 in December to £614 in June. No doubt this can be attributed to the need for HR specialists to manage organisational change in the public and private sector, as well as redundancy programmes. Sectors that were buoyant included engineering, with Interims experiencing pay increases of 10.5% from £451 to £504; retail where Interims saw a 11% increase in pay from £591 to £670 and in the Supply chain and Utilities sectors where Interims saw their pay increase by around 20%. Sales and marketing specialists didn’t fare so well however, and saw their pay drop by 14% from £608 to £502 a day. Pay rates also fell by 11.7% for Interims in the not for profit sector from £521 to £460 day; Interims in IT experienced a 5.7% drop in pay from £649 to £612 and pay rates dropped by 2% for Finance Interims from £579 to £568. Interestingly, the planned job cuts in the public sector have not yet hit the Interim Management market and activity levels and pay rates have remained pretty stable in central and local government, education and the NHS over the past six months. Central government showed a slight decrease in pay levels from £628 to £610 (-2.8%), however this was balanced out by a 6% increase in local government, where pay rose from £516 to £549. There was a 5% increase in pay for Interims working in education and a 2.8% decrease in NHS pay. Regionally, the fortunes of Interims were equally mixed. Interims in the South of England maintained their average daily rate of £619 a day, whilst Interims working in Central England saw their pay drop from drop from £623 to £591; no doubt this is a reflection of the relatively high level of job cuts in the Midlands compared with the rest of the UK. Interims in the North and West saw slight increases in their pay rates. Interims in their 20 and 30s won the most assignments during the past six months, followed by Interims in their 40s, then 50s and then 60s. However, Interims in their 40s are commanding the highest salaries with an average daily rate of £633. There remained a high level of commitment to the Interim industry with 29% of Interims stating they wouldn’t consider taking a permanent position, 40% saying they would happily move in between Interim and permanent work and with 49% prepared to take a full time job if it was a tempting enough offer. Only 9% said they were actively looking for a permanent job. Charles Russam, Chairman of Russam GMS said, “As we are slowly emerging from the recession, we are seeing a sharp increase in levels of interim activity in the market and growth in many sectors. But we expect that sentiment must soon be affected by impending public sector job cuts and their ripple effects through the rest of the economy. Many Providers have already seen a marked reduction in opportunities coming out of Central Government and to a lesser extent Healthcare but Local Government still seems to be holding up. In the private sector, Financial Services are putting more work out to Interims and the Charity Sector – now renamed the Civil Society – is busy although funds are still tight. As for Interim Manager themselves, Charles Russam adds, “The competition for assignments remains tough and the more astute and agile Interims are looking hard at their skill-sets to make them sharp, focussed and relevant. Our advice to Interims is to be flexible, hone your skills and, where necessary learn new ones and look for opportunities through networking, Providers and personal contacts. Interims who are the most entrepreneurial will fare the best in this market.” Note about this Survey
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| Russam GMS Helps Interims Get Fit for Purpose, Fit for the Future |
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4th Annual Interim Management Summer Congress 10 June 2010 – Award-winning Interim Management Provider, Russam GMS will be ensuring Interim Managers get ‘Fit for Purpose and Fit for the Future’ at its Annual Summer Congress on Thursday 1st July 2010 at the Royal Thames Yacht Club in Knightsbridge, London. This practical all-day event, which is unique within the industry, will focus on the changing market environment, the current challenges facing Interims, where the work is and how it can be won. The aim of the event is to help Interim Managers become better equipped and skilled to operate effectively and win business in these challenging times. The line up of high profile speakers includes Neville Reyner, President of the British Chamber of Commerce, John Philpott, Chief Economic Adviser, Chartered Institute of Personnel and Development (CIPD), Andrew Hind, Chief Executive of the Charity Commission, Kevin Green, CEO of the Recruitment and Employment Confederation and Paula Higson, former NHS Direct Chief Operating Officer & UKBA Director. The event’s activities will include a lively, interactive panel debate looking at the state of the global economy and markets and the implications for Interim Management. There will also be break-out sessions running throughout the day led by industry experts that will help Interim Managers improve their businesses, maximise return on investment and enable them to hone their professional skills to win more business. Sector specific break-out sessions will run during the afternoon. These will analyse the work opportunities and challenges that exist in the not for profit, public and private sectors. Interim employers, industry experts and principals from Russam GMS will lead the sessions and give Interims practical advice on how to maximise market opportunities and discuss the experience and skills they need to succeed. Charles Russam, Chairman of Russam GMS says, “The Interim Management market is changing rapidly. It is tougher and more competitive than ever and Interims need to adapt their own professional product and skills-sets to survive. At this year’s Summer Congress we will be taking a cold hard look at current market conditions and the challenges that exist in all sectors. We will arm Interims with practical advice from industry experts that will ensure they will be well equipped to tackle these challenges and win business in spite of market conditions.” There will be ample networking opportunities during the day, including an evening champagne reception hosted by Interim Women and sponsored by Towergate Risk Solutions. For a full programme of the Russam GMS Summer Congress go to: http://www.russam-gms.co.uk/summer_congress.html Delegate tickets cost £95 (including VAT) and can be reserved through Kirsty Sale at Russam GMS at kirsty.sale@russam-gms.co.uk |
| New Head of Healthcare appointed at Russam GMS to grow business |
 12 May 2010 - Russam GMS, an award-winning provider of Interim Managers has appointed Paul Fleming as Head of Healthcare to lead its Healthcare Practice and develop its Interim Management offering to NHS and private healthcare organisations. Russam GMS’s healthcare business has grown significantly in the past year. The company was appointed as supplier to the NHS Commercial Resources Framework and also awarded a three year contract with Buying Solutions as a supplier for its new Non-Medical, Non-Clinical framework agreement. Paul will manage these contracts and grow the existing client base by placing high level Interim Managers into healthcare organisations in a number of disciplines, from Chief Executives, through to Transformation/Change Directors, Programme and Project managers through to IT Directors and Operations Directors and Managers. Paul has over nine years’ recruitment experience and for the last three years has specialised in Interim Management placing Interims into NHS and private healthcare organisations. Prior to that, he was an analyst with a FTSE 100 business. Paul says, “The healthcare sector will be facing unprecedented challenges this year in light of planned spending cuts. There is increased demand for better quality services at reduced costs and a need to tackle the uneven quality of services in different regions. Additionally, the creation of a patient-led NHS and the ongoing reform agenda will require organisations to continually develop to achieve world class excellence.” “Many change and transformation programmes underway in the NHS are being led by experienced Interim Managers and with huge challenges ahead, there will be increased demand for Interims to help organisations run critical transformation projects, lead change and deliver greater efficiencies and cost savings,” he added. Gary Lawton, Managing Director - Pubic Sector, Russam GMS said, “We are delighted to welcome Paul to Russam GMS. He brings a wealth of experience and knowledge of the healthcare sector. We have a strong track record of delivering Interims to public sector organisations and under Paul’s leadership, we are confident of the future growth and development of the Healthcare Practice to meet the growing demand for Interim Managers.” |
| Small green shoots of recovery in Third Sector as 1 in 4 Interim Managers say Charity income is increasing |
| 8 out of 10 charities have increased fundraising 29 April 2010 – There are some signs of optimism in the UK’s Third Sector according to new research of 450 Interim Managers from Russam GMS. 25% of Interims said that charity income is increasing, 9% said it was stable and 65% said it is decreasing. These figures are an improvement on the same research conducted six months ago when only 4% said income was increasing and 76% of Interims said that income levels were decreasing. The Interims also said that the poor economic situation had benefitted charities in a number of ways: it had prompted charities to improve governance and introduce better financial management and planning (40%); some organisations had reduced supplier and accommodation costs (22%); some had been able to benefit from a greater choice of better quality staff (20%); and there was a greater number of volunteers available (18%). In response to the downturn, half of all charities are monitoring cash flow more tightly (51%), whilst a quarter of charities are introducing better governance measures to speed up recovery (25%), as well as increasing their marketing and fundraising efforts. Other initiatives include an increased reliance on volunteers (14%) and a greater involvement of trustees (10%). 84% of Interims stated that charities have increased their fundraising efforts to meet the real or anticipated shortfall in income. However, in spite of these initiatives, cut backs are still being made in many areas. 75% of Interims said that redundancies were still being made and recruitment, strategic business projects and IT projects were being put on hold. According to the Interims, the top three areas of opportunity for interim work in the sector in the next six months are in fundraising, project management and business development. However, they were not overly optimistic that the number of jobs will increase in the next six months. 51% said they were less confident about the opportunities, 30% said they were more confident and 19% said the number of job opportunities would remain the same. Ian Joseph, Head of the Not for Profit and Charities Practice at Russam GMS said, “Compared with six months ago, it appears that the outlook for the Third Sector is improving, albeit slowly. Many charities are relying on their volunteers more and are asking more of their trustees in terms of financial planning and providing leadership. Fundraising is also a huge priority for eight out of ten organisations.” “With the potential arrival of a new government in May, there is understandably uncertainty about the future shape of the sector, particularly at a time when demand for services is increasing - which is perhaps why Interims are being cautious about the outlook for jobs. That said, we have seen a surge in demand for Interims in the first quarter of the year and I have no reason to suspect that this will diminish.” |
| InterimWomen seeks new Advisory Panel members |
| InterimWomen is entering into an exciting phase of expanding its activities and support to senior interims. The Group now wishes to appoint new Advisory Panel members who can help drive and shape its future direction. The Advisory Panel, which meets 4 times a year, offer their time, pro bono, to support the aims of www.InterimWomen.co.uk The Panel's purpose is: • To oversee the activities of the InterimWomen network • To develop and grow Interim Women • To monitor developments and events affecting Interim professionals • To help organise networking forums and regional events • To promote the interests of Interim Women to the media and relevant organisations The Panel is keen to appoint senior interims from different sectors, industries and UK regions. If you are interested in joining the Panel please contact the Panel Chair, Rachel Youngman for more information at rmjyoungman@btinternet.com. |
| Smaller charities to benefit from new Trustees Unlimited recruitment service |
| 24 March 2010 – A new trustee recruitment service to help small not for profit organisations recruit a more diverse pool of talented trustees is being launched today by Trustees Unlimited, the joint venture trustee recruitment company from NCVO, Bates Wells and Braithwaite and Russam GMS set up in November 2009. The new, cost effective service is an extension of Trustees Unlimited’s existing trustee recruitment offerings. It has been set up in response to significant demand from organisations with a turnover of less than £500K who want to access the growing numbers of professional people wanting to serve as trustees who are registered with Trustees Unlimited. This basic version of the Trustees Unlimited recruitment service will be available for a one off fee of £750. It will include a briefing conversation with the selection committee of the recruiting organisation to ensure clarity on the type of trustee required and a search of suitable candidates from the Trustees Unlimited database of around one thousand people. Ben Kernighan, Deputy Chief Executive, NCVO says, “Leadership is a crucial area that all charities, regardless of their size, must get right if they want to ensure their long-term success so finding and recruiting the right trustees is a hugely important task. Trustees Unlimited has already successfully placed trustees in larger organisations and I’m delighted we are expanding the service so smaller charities can access high calibre candidates at affordable prices.” Ian Joseph, Head of the Not for Profit Practice at Russam GMS added, “Trustees Unlimited is committed to good governance in the sector. We want to make it easier for every not for profit organisation in the UK to recruit high quality trustees and this new inclusive and accessible service will make that possible.” Trustees Unlimited was established to help not for profit organisations solve the difficult challenge of trustee recruitment and recruit talented and professional trustees more easily. Research from NCVO highlighted that 43% of boards find it more difficult to recruit trustees today than five years ago; 81% of charities rely on word of mouth recommendations to recruit trustees which can limit the talent pool, and 76% of trustees are over 45 years old which means that charities need to think about succession planning to replace them when they retire. Since its launch, over 1,000 professionals looking for trustee roles have signed up to Trustees Unlimited; there has been significant demand for trustees from not for profit organisations of all sizes and several trustee placements have been made in large not for profit organisations, such as Christian Aid, through to smaller organisations such as London based, Community Options. Editor’s Notes For more information, please contact: Kathryn Hughes Kayak PR Email: Kathryn@kayakpr.co.uk Tel: 0203 142 6447/07801 823839 About Trustees Unlimited Established in November 2009, Trustees Unlimited is a joint venture between NCVO, Bates Wells & Braithwaite, and Russam GMS to provide a solution to the problem many not for profit organisations face - trying to recruit high quality trustees in a rigorous and yet cost effective way. All the partners are industry leaders: Bates Wells & Braithwaite is the leading law firm in the Third Sector offering an extensive range of services and is recognised as a thought leader; Russam GMS is one of the leading provider of Interim Managers to the sector and, significantly its Not for Profit Practice is led by senior sector people who understand the challenges their clients face; and NCVO, the umbrella body for the voluntary sector which has a pre-eminent reputation in relation to governance and trusteeship. In 1992 NCVO recognised the help organisations and trustees needed in this area and has provided dedicated support in governance and leadership to the sector ever since. For more information, visit: www.trustees-unlimited.co.uk About NCVO The National Council for Voluntary Organisations (NCVO) is the umbrella body for the voluntary sector in England, with sister councils in Wales, Scotland and Northern Ireland. NCVO has over 7,500 members ranging from large national bodies to community groups, volunteer centres, and development agencies working at a local level. With over 280,000 staff and over 13 million volunteers working for our members, we represent and support almost half the voluntary sector workforce. For more information visit: www.ncvo-vol.org.uk About Bates Wells and Braithwaite BWB is the leading firm of solicitors for the charity and not-for-profit sector. It acts for 275 of the top 3000 charities, more by far than any other firm. BWB has developed the complete range of legal services for its clients, from charity applications to trade mark registrations. OnBoard is BWB’s governance and training consultancy. For more information, visit www.bwbllp.com About Russam GMS Russam GMS is the longest established mainstream provider of interim managers in the UK with a 29 year track record. It has the most comprehensive working database and range of contacts with Interim Managers within the UK. It is a specialist provider of interim managers for not for profit and charity sectors, central and local government, financial services, manufacturing as well as the private equity and venture capital sectors. For more information, visit: www.russam-gms.co.uk |
| Russam GMS launches new joint venture with Athene Communications |
| Russam GMS launches new joint venture with Athene Communications to offer Interim marketing and communications specialists. 17 March 2010 - Russam GMS is partnering with Athene Communications to launch Athene Interims, a new company specialising in the placement of Interim marketing and communications professionals to meet the growing market demand. The new company was created by founding partners Richard Astle of Athene Communications and Jason Atkinson of Russam GMS, both of whom have significant communications and marketing experience. Before setting up Athene, Richard was Corporate Affairs Director for AMP Pearl, one of the country’s leading financial services groups and Jason has 16 years of international sales and marketing experience across both the financial services and fashion retailing sectors. Caroline Parsons joined as director in March to lead the day to day operations of the business. Caroline has held lead communications roles in the NHS and local government. Many companies are recognising the benefits of using interims to strengthen their marketing and communications functions or to provide specialist support for specific projects. Richard Astle explains the Athene difference: “At Athene Interims, we all have a strong background in senior communications roles and as such we understand the demands and challenges facing our clients. We are able to have an intelligent discussion with a potential client about the best needs for their vacancy, and we know that people need an interim who can be a part of the team from day one. “Our philosophy has a strong connection to that of both parent companies. We interview all potential interims before sending their CV to a client and, as a Russam GMS partnership company, have the broadest reach of any UK interim management provider. “Our work is all search driven and supported by a primary database of 12,000 specialist interim executives. We pride ourselves on combining this expertise with our first hand understanding of communications and marketing.” Athene Interims is based in Peterborough, Cambridgeshire and places interims nationwide. |
| Russam GMS Strengthens Management Team to meet market demand |
| 10 March 2010 - Russam GMS, a leading UK provider of Interim Managers is strengthening its senior management team by appointing Jason Atkinson as Managing Director for the Private Sector and Gary Lawton as Managing Director for the Public Sector. The new appointments reflect the recent strong business growth in these two sectors for Russam GMS and the opportunities that exist within both for the future grow and development of Russam GMS’s Interim Management offering. The Private Sector group led by Jason Atkinson will comprise of financial services, private equity, manufacturing, defence and aerospace and the not for profit and charities division, Athene Interims – the new marketing and communications division, Universities and the general practice. The Public Sector business led by Gary Lawton will focus on central government and the civil service, local government and healthcare. Jason Atkinson has 18 years international sales and marketing experience across both the financial services and fashion retailing sectors. Prior to joining Russam GMS in 2005 he spent eight years working for various life, pensions and banking institutions including Pearl Assurance and AMP. He is also the Deputy Chairman of the Interim Management Association (IMA); a founding member of the Financial Promotions Action Group; and is involved in a number of other industry bodies and associations. Gary Lawton is a highly skilled recruitment professional with over 13 years of experience supplying senior executives into the public sector. He has focused predominantly on Central and Civil Government, and has also achieved success working with Local Government including local authorities, NHS trusts and police constabularies. Prior to joining Russam GMS, Gary spent the past seven years as Head of Public Services at Elan – the industry leading IT recruitment consultancy. Charles Russam, Chairman of Russam GMS said, “Jason and Gary’s appointments as managing directors for the private and public sectors reflect the fact that both sectors now account equally for half of the business. Through their leadership, we are confident of the future growth and development of Russam GMS to meet the growing demand for Interim Managers in these sectors.” |
| Slow recovery, reduced profits and skills crisis hindering UK Manufacturing |
| 3 March 2010 – Slow recovery, reduced profit margins and the inability to compete with low cost manufacturing locations are the three biggest challenges facing UK Manufacturers, according to a new survey of 350 Interims Managers working in manufacturing from leading Interim provider, Russam GMS. 58% of Interims said that slow recovery will hinder UK manufacturing growth this year, 22% said reduced profit margins will be problematic and 16% said the UK will be unable to compete with low cost manufacturing locations. Other causes for concern are the UK’s reliance on export markets, increased regulations and the lack of skilled workers in the sector. 84% of Interim Managers claim the sector is suffering from a skills shortage at every level. The skills gap is most pronounced at the technical and project management level according to 56% of Interims. However, there is also a lack of executives experienced change management, too few general managers and business development specialists and a shortage of graduates. Just 12% of Interims believe there isn’t a shortage of skills and 4% are unsure. Interims have mixed opinions about the outlook for UK manufacturing this year. 53% feel as confident in the future of manufacturing as they did in 2009, a third feel more confident and just 14% said they feel less confident. However, there are areas of opportunities this year. Business turnaround is the number one area of opportunity, according to 40% of Interims, 25% believe it will be lean manufacturing, 20% see opportunities in business development and working with start ups and 15% believe that project management is a growth area. In terms of industry sectors, 51% of respondents felt the pharmaceutical industry will be particularly buoyant; 25% predicted that aerospace and defence will experience growth; 15% of Interims stated that both the food and the chemical industries were set for growth and 9% see opportunities in engineering. John Wilson, Head of Manufacturing practice at Russam GMS comments, “Manufacturing felt the impact of the recession harder than many other sectors; it is still under pressure and recovery feels a long way off. This is certainly the sentiment of Interim Managers working in the sector who see slow economic recovery as the biggest challenge facing the sector.” “More worrying however, is the skills shortage at every level in the industry clearly highlighted by the research. Whilst a demand for skills may generate Interim Management employment opportunities, it could have disastrous implications for the future of UK manufacturing. For the UK manufacturing sector to secure its future, this issue needs to be addressed by the industry now.” |
| Women in Interim Management earning 7% less than men |
| - Interim Managers say rates are being eroded by ‘inbetweeners’ - 2 March 2010 – Female Interim Managers earned 7% less than men in the six months from July to December 2009, according to the latest snap shot survey of 11,000 Interim Managers from Russam GMS. Women were paid on average £553 a day, compared with £592, the average daily rate for men. The gender pay disparity was pronounced in sales and marketing, HR and financial services but not so in general management, where women were paid an average of £650 a day, compared with £634 for men. Interestingly, the research also showed that whilst women only accounted for 12% of the database, 51% of women who responded to the survey were on assignment compared with 45% of the total number of Interims on assignment. Russam GMS wanted to find out why women are being paid less than men and winning a greater number of jobs so it questioned Interim Managers to see if there are differences in male and female attitudes to pay and willingness to negotiate rates. The research showed there is very little difference between the way men and women negotiate their rates.54% of all Interims said they occasionally negotiate their fees with clients and Interim Providers, and 42% of men and 41% of women admitted they negotiate often. Only 3% of men and 4% of women said they never negotiate rates. Interims were divided on the question of reducing rates - 47% of women and 43% of men said they had reduced their fees over the last 18 months but 40% of all Interims stated they hadn’t reduced their fees. Those that had reduced their rates believed it was far more profitable to work at a reduced rate than not work at all, whilst others urged Interims not to reduce their rates, stressing that Interims should compete on quality and not on price. There was much common ground between men and women in terms of the challenges they faced. Most agreed the market was now flooded with people they termed ‘in-betweeners;’ individuals who had been made redundant and were trying out Interim Management as a stop gap. These people were squeezing the market rates and intensifying competition for jobs they stated. One Interim described the bun fight for jobs saying, “At a recent interview, 28 qualified accountants were interviewed and put through two hours of psychometric tests for one four month maternity assignment.” Others said that management consultants had also reduced their fees and were competing for the same roles. Clients were also more cost conscious than ever said 8 out of 10 Interims. They were more specific and exacting about the skills they needed for each role and less willing to pay expenses. They urged Interim Providers to educate clients about the difference between ‘career’ Interims and ‘in-betweeners.’ Chairman of Russam GMS, Charles Russam said, “Whilst our statistics showed that women earned slightly less than men in the last six months – we have no concrete evidence as to why this is the case. There is no difference in the way in male and female view money and negotiation and they face common challenges including competition from new entrants and clients being more choosey and cost conscious. To win jobs, it is essential for all Interims to keep their skills up to date, present themselves well, be flexible and willing to travel to assignments and market themselves effectively. “ |
| Buying Solutions: Russam GMS "successful supplier for new Non-Medical, Non-Clinical Resources framework agreement" |
| 10 February 2010 - Russam GMS, a leading provider of Interim Managers to the public sector, has been selected by Buying Solutions, the government’s national procurement partner for public services, as one of its successful suppliers for its new Non-Medical, Non-Clinical framework agreement. Russam GMS will supply Interim Managers throughout the public sector as part of a three year agreement that started on 1st January 2010. Through the new framework agreement, public sector departments will have the opportunity to hire temporary staff, interims and contractors in any role throughout the public sector, from the most junior to the most senior, including board level roles, through a list of pre-qualified suppliers. Russam GMS will be working closely with Buying Solutions to provide experienced, senior level Interim executives able to deliver organisational efficiencies and major cost savings to government departments. Gary Lawton, Managing Director – Public Sector at Russam GMS commented, “Russam GMS is delighted to win recognised supplier status under the new Buying Solutions framework agreement through a competitive tender process. We look forward to supplying high calibre, experienced Interims who can work with government departments to deliver organisational efficiencies, costs savings and quality improvements. We have the most extensive database of Interim Managers in the UK and a proven track record of delivering the first class resources needed in the public sector.” |
| Interim management market slowdown ends |
26 January 2010 – The decline in the Interim Management Market appears to be over, according to the latest six month snapshot of 11,000 Interim Managers from leading UK provider, Russam GMS. Activity increased slightly by 0.9% over the past six months and this small increase is in big contrast to the 15% drop in market activity recorded in the 12 months from June 2008- June 2009. Also, in spite of speculation about Interim rates being squeezed downwards, pay remained stable. The average daily pay rate for Interim Managers across all sectors was £592 in December 2009, just a small decrease (1.5%) from £601 recorded in June 2008, and from the all time high of £611 recorded in December 2008. Part time Interim managers saw their daily rate rise again in the last six months, from £602 in June 2009 to £616 in December, supporting the fact that many companies are working with Interims in a flexible, cost effective way to suit their budgets or trying out Interims on a part time basis before committing to longer term contracts. Finance specialists were in demand and, in the past six months the number of finance Interims on assignments rose from 16% in June 2009 to 22% out of the total number of Interims on assignment in December. They also saw their pay jump by 8.8% from £532 in June to £597 in December. Other high earners included IT specialists who commanded an average of £649 a day, up from £641 in June and general managers who earn £635 a day. In terms of sectors, Interim Mangers working in Telecoms saw their pay rise by 15% in the past year from £625 a day in December 2008 to £718 in December 2009. Other buoyant industries for Interims last year included FMCG, where Interims experienced a 16% pay rise and the food industry, where pay rose by 13%. Interims working in the retail sector saw a reversal of fortune, with pay rises of 5% increase in December 2009; this was in stark comparison to the 26% drop recorded in the six months to June 2009. These positive changes could indicate increased consumer spending and show that market recovery is on its way, albeit slowly. Pay rates stood up well in the public and third sectors too, with very little changes in pay for Interim Managers working in central and local government and the charity and not for profit sectors. In contrast, Interims working in education saw their pay rise by 18% in the past 12 months from £544 a day in December 2009 to £642. Interims working in the NHS also saw their pay increase by 5% in the last six months to £598. In terms of age, 58% of Interims in their 30s were on assignment compared with 52% of Interims in their 40s. However, Interims in their 40s command the highest daily rates at £613, followed by those in their 50s who get £604; then those in their 60s, who get £541, with those in aged 30 getting £486. Interim Managers continued to take a flexible and pragmatic view of their Interim careers, with just a third saying they would never take a full time job, whilst just about half said they would go back to a permanent career if the offer was tempting enough. Charles Russam, Chairman of Russam GMS said, “These results suggest the slowdown in the Interim Management market is over and that things won’t get any worse.” “Finance professionals are back out in the field helping streamline and position organisations financially for the future and we think these specialists will continue to be in demand this year, providing cost effective and timely resource to help companies emerge from the recession.” “One area of major uncertainty is the public sector. Although pay rates are holding up for now and demand for Interims was strong over the past six months, we anticipate that planned government spending cuts and the forthcoming election will impact the market, with projects potentially being frozen pre and post election.” In terms of his advice to Interims, he says, “We don’t think things will get worse for Interims this year, but the market remains fiercely competitive. To get ahead, Interims will need to be flexible about the assignments they take on, look for opportunities in niche sectors and continue to hone their skills, and market themselves effectively to win business.” |
| Peter Dunkerley wins the IRP Interim Recruiter of the Year award |
 27 November 2009 -
Russam GMS’s Peter Dunkerley wins IRP Interim Recruiter Award1 December 2009 – Peter Dunkerley, Principal consultant for Interim Provider, Russam GMS was crowned, ‘Interim Recruiter of the Year’ 2009 at the REC’s Institute of Recruitment Professionals’ (IRP) awards at HAC in Central London. The IRP awards celebrate outstanding achievement in the recruitment industry. Peter fended off tough competition from candidates from Hoggett Bowers Executive Interim Management, Contract Scotland and RSA Interims to win. He was recognised for the tremendous value he has added to his clients and Interim Managers in his nine years working for Russam GMS. Peter received several glowing recommendations from Interims and clients, including Bryan Buckingham, owner of Plastic Development Techniques Ltd who asked Peter to help him find a buyer for his business which he had failed to sell on two previous occasions. Peter recommended Interim Paul Allen who sold the business quickly enabling Bryan to finally retire. Tony Hales, Chairman of Naafi, a provider of catering, retail and leisure facilities to the British Armed Forces also commended Peter’s work. He appointed him to help with a change management project that involved moving part of its commercial team to Germany. Initially, Tony needed Buying Category Managers willingly to work in Germany - Peter found six. NAAFI was so impressed that it recruited 23 Interim Managers over two years with Peter’s help. Not only is Peter a top consultant at Russam GMS, he was commended for his approach to recruitment – going out of his way to help Interims find business and championing their needs and aspirations at all times. Peter has built a reputation in the industry as a highly visible Interim Management provider who is highly respected by clients and Interims. Guy Fraser, interim manager commented, “I am registered with most interim providers, but above all of them, I value Peter Dunkerley's positive approach to the business. He understands how I can fit into a prospective assignment or he will tell me clearly when I don't. He is genuinely interested and always encouraging." Peter says, “I am delighted to win the IRP Interim Recruiter of the Year award – it is a great achievement. Interim Managers are precious products - important merchandise that need to be helped, sometimes polished and even cosseted. I work hard to support them in any way I can to help them win and retain business.” |
| UK Charities taking action to recover from recession |
| • 72% of Interims say income is still falling in charity sector • One in four charities making job cuts • Interims helping charities transform operations and cut costs 10 September 2009 – A new survey of over 450 charity Interim managers from Interim provider, Russam GMS and Cass Business School in August revealed that 72% of UK charities have experienced falling incomes, 64% have put recruitment and IT projects on hold and 25% have cut jobs in the past six months. But in spite of this, they are taking many steps to recover. Two thirds of Interims said that charities have increased their fund raising efforts and that many cost saving measures have been introduced. 40% said that cash flow is being tightly monitored, 25% said charities have reduced headcount and also claim charities are introducing more collaborative working and sharing services and costs (15%), improving governance (14%) and increasing their marketing efforts (11%). The research mirrors the results of the latest ‘Managing in a downturn’ from Pricewaterhouse Coopers in conjunction with The Institute of Fundraising, The Association of Charitable Foundations and CFDG (Promoting Best Practice in Charity Finance) which revealed that half of all UK charities predict their income levels will fall in the next six months but that 62% they will increase their fundraising activities in the next six months. The latest snapshot from Russam GMS published in August also showed that UK charities are recruiting Interims more strategically to help them raise funds, reduce operational costs and improve efficiencies. This was also reflected in the fact that the pay rates for Interim charity specialists rose by 8% from £464 in December 2008 to £499 in June 2009. Interims have been working mainly on assignments related to raising funds and changing the way organisations operate. 69% have worked on change management projects, 58% have been involved in contract negotiation and funding bids, 38% have been involved in financial planning and 34% in fund raising and marketing. The interims claimed that several key opportunities were emerging from the recession. 40% believe that charities will benefit from a larger volunteer base and a great talent pool from which to recruit, 25% see a major opportunity for charities to renegotiate prices with supplier and reduce office costs as well as introduce better financial planning and governance. Just over half (54%) are confident that the outlook for charities will improve in the next six months. They see the main assignments opportunities being in fund raising, project management and turnaround projects. Stephen Brooker, Chairman of the Charities Practice at Russam GMS said, “UK Charities are still having an incredibly tough time, which is very much reflected in our research and the latest ‘Managing in a downturn’ report from Price Waterhouse Coopers. Income levels are still falling, recruitment is very much on hold, as well as some projects, and job cuts are widely reported.” “However, on a positive note, it is clear that charities are taking action to combat the impact of the recession. Interims are being recruited to work on change management and fund raising projects to help them secure new funding, transform the way they work and reduce costs. In addition, many organisations are now collaborating with each other and sharing services to reduce costs. They are also introducing better financial planning and governance. These efforts will reap dividends over time and we are confident that the outlook for charities will start to improve in the next six months.” |
| Russam GMS showcases benefits of Interim Management at Defence Systems & Equipment 2009 - Stand 431 |
| 8 September 2009 Russam GMS, the longest established UK supplier of Interim Managers to the defence and aerospace sector is exhibiting at Defence Systems & Equipment (DSEi) 2009, the world’s largest defence and security exhibition at London’s ExCel from 8th-11th September 2009. John Wilson, Operations Director and Head of the Defence Practice at Russam GMS will be available for the duration of the show on Stand 431 to discuss how Interim Managers are being used increasingly in the sector. He can talk about the projects and programmes Interims are currently undertaking and the benefits and efficiency savings they are delivering to many organisations in the sector. John Wilson comments, “Defence Systems & Equipment is the leading annual event in the security, military and aerospace world and a very important exhibition for Russam GMS. We are looking forward to meeting with prospective clients in the defence and aerospace industry. We want to discuss their key business challenges with them and look at how our Interims specialists could work with them to address their issues and add value to many areas of their organisation.” Russam GMS has a 28 year track record of working with clients in the aerospace and defence sectors. |
| Optimism over signs of recovery in Interim Management Market |
• Rate of decline slows - 4% fall in Interim volumes in last six months compared with 11% in the previous • Average daily pay rates still above £600 a day • 12% pay rises for Sales and Marketing Interims and Interims willing to work overseas 17 August 2009 – The recession appears to be bottoming out, according to the latest snapshot survey of over 9,000 Interim Managers from leading UK Interim Management provider, Russam GMS. While Interim activity in the market declined by 4% in the six months from January to June this year, it compares favourably with the 11% drop in activity recorded in the six months from June to December 2008. In spite of widespread industry speculation about Interim rates being squeezed downwards, the average daily pay rate fell just £10, from an all time high of £611 in December 2008 to £601. Pay rates for part time Interim managers actually increased from £600 to £602 indicating that companies were still working with Interims but in a more flexible way to suit their tighter budgets. There were pay rises for sales and marketing specialists who saw their daily rates increase 12% from £527 in December to £592 in June this year. Interims working in the pharmaceutical sector also saw their rates shoot up 14% in the last six months to £687 from £603. Pay rates stood up well in the public and third sectors too. The average daily rate for Interims working in local government increased by 5% and those working in not for profit organisations and charities saw their pay increase by 8% from £464 in December 2008 to £499 in June 2009. There were big pay rises for Interims willing to work overseas with daily rates rising by 10% from £707 to £778. Interims in their 40s were commanding the highest salaries – an average of £611 per day, closely followed by those in their 50s on £601. Interims hit hardest by the recession were those working in the retail sector and the food industry – both sectors saw pay rates fall by 26%. Interims working in Education experienced a 13% drop in pay from £641 in December 2008 to £557 in June 2009. Interims working in IT and in the professional services also experienced small decreases in pay. Regionally, the biggest pay cut were felt by Interims in the West of England (13%). In the South and North of England pay fell by 6%, whilst it remained static in the Midlands. In spite of the recession, the majority of Interims questioned remain committed to their career choice in spite of the market conditions. Just 30% saying they would never consider returning to full time employment and half said would consider it, but only if the opportunity was too good to turn down. Charles Russam, Chairman of Russam GMS, commented, “There are definite signs of optimism in the Interim Management market. The rate of decline has slowed considerably in the last six months so we may have seen the worst of the recession. As in previous recessions, more companies have been employing interims on a part time basis, showing that demand is clearly there but companies are being more cautious and cost conscious so less willing to use Interims on a full time basis.” He added, “It is encouraging too that there were big pay rises for Interims working in the pharmaceutical sector and in sales and marketing over the past six months. Companies are perhaps redoubling their sales and marketing efforts to gain competitive advantage. The public sector has held up well and we believe there will be further opportunities for Interims in this area as the government’s public sector transformation agenda continues. We also believe that turnaround specialists will play a central part in reviving the private sector, in particular the banking industry.” In terms of his advice to Interims, he says, “The market is more competitive and tighter than ever before so Interims need to be on top of their game, brush up their skills and sell themselves to whoever needs their services and can pay for them.” |
| Department of Health appoints Russam GMS to deliver Interim Managers under Commercial Resources Framework |
| 10 June 2009 – Russam GMS, the UK’s longest established mainstream provider of Interim Managers has been appointed by the Department of Health and NHS Purchasing and Supply Agency (NHS PASA) as one of the suppliers on the Commercial Resources Framework. The framework begins on 1st June 2009 through to 30 April 2012 with an option to extend for a further two periods of 12 months. The Framework will provide the Department of Health and NHS organisations with easy access to a list of pre-qualified suppliers of non-permanent workers with commercial skills. The Framework will support skills transfer to sustain the development of commercial skills throughout the NHS, Department of Health and the wider system. Russam GMS will be working across the NHS to provide experienced, Interim Managers able to deliver organisational efficiencies and major cost savings as part of the NHS’ new commercial operating model. Jason Atkinson, Director at Russam GMS commented, “Russam GMS is delighted to win supplier status under the new NHS Commercial Resources Framework in a competitive tender process. The NHS is establishing a new commercial operating model and experienced Interim Managers can play a major role in developing this new model. In addition, they have proven expertise in delivering organisational efficiencies and major cost savings and can transfer their skills and expertise internally to create lasting value. We have the most extensive database of Interim Managers in the UK and we are confident we can deliver the first class resources needed by the NHS to achieve its goals.” |
| Russam GMS showcases benefits of Interim Management at Procurement Live Solutions - Stand D66 |
| 9 June 2009 – Russam GMS, the Catalist approved supplier of Interim Managers to Central and Local government, is exhibiting at Stand D66 at Procurement Live Solutions 2009 at Earls Court, London from 9th to 10th June 2009. Russam GMS is the only dedicated supplier of Interim Managers attending the exhibition. The Public Sector team led by Gary Lawton, director of Public Sector will be available for the duration of the show to discuss the work of Interim Managers, how they are being used increasingly in the sector, and the many benefits and efficiency savings they can deliver. Gary Lawton comments, “Procurement Live Solutions is the showcase event for Buying Solutions and an important event for Russam GMS. The exhibition offers us a unique opportunity to talk directly to procurement specialists interested in learning how Interim Managers are delivering business benefits across UK Central and Local government departments. This is particularly pertinent in the current economic climate where collaborative working and best practice are paramount.” Russam GMS is the longest established Interim Management Provider in the UK, with a 25 year track record of working with clients in the Public Sector. Since achieving its Catalist accreditation in 2006 from OGCbuying.solutions, its practice has grown from strength to strength. The company’s vision is to become the number one supplier of Interim Managers in the Public Sector. In January, Russam GMS won approved supplier status for the Central Scottish Government and, it has just been awarded supplier status under the NHS Commercial Resources Framework to deliver Interim Managers to the NHS. |
| UK Charities suffering from drop in income, stalled projects and widespread redundancies |
8 May 2009 – UK charities are suffering from falling income levels and a freeze on projects, recruitment and IT investments, according to a new survey of 10,000 Interim Managers, from leading Interim provider, Russam GMS. 76% of Interims said that income levels have fallen in charities across the UK since the start of the financial crisis, 20% claimed they were stable and just 4% said they had increased. 55% of Interim Managers said key business projects have been put on hold, 20% claimed that recruitment efforts have been frozen, 15% said IT investment had been put on the back burner and 10% said that marketing plans had been shelved. 74% of Interims also claimed that job cuts had been made in the organisations in which they worked. Many charities have taken action to combat the effects of the financial crisis - 76% of Interims claimed that cash flow has been monitored more tightly since the recession started, 10% stated that charities had involved trustees more closely in decision making, 8% said that better governance measures had been introduced and 6% said that new policies and processes had been implemented. 84% of Interims stated that charities are increasing their fund raising efforts to meet the shortfall in charitable donations. Several opportunities for charities have also emerged in this recession. 30% have reduced their suppliers’ costs or negotiated a better rental deal, 25% of charities have benefitted from having an increased pool of available resources and a greater number of volunteers, 25% of charities have improved their governance and 10% have seen income increase in charity shops around the UK. Stephen Brooker, Chairman of the Charities Practice at Russam GMS said, “In November last year, the ‘Managing in a downturn report’ from Pricewaterhouse Coopers, The Institute of Fundraising and CFDG painted a grim outlook for the Charity sector in 2009. Many of the report’s predictions about the funding crisis, staff layoffs and recruitment freezes have been confirmed by the Interim managers on our database.” “We would urge organisations to collaborate with each other and share services, systems and even premises to drive down costs. They could also consider outsourcing aspects of their business, such as HR, and think about using more flexible and experienced resources, such as Interim Managers, to get through the crisis. It is heartening that many charities have responded to the crisis in such a positive way with increased financial monitoring, better governance and new policies and processes. Such changes will help them get through these tough times and ensure their organisations will be in good shape when economic recovery comes.” About Russam GMS Ltd:
For further information please contact: Kathryn Hughes Russam GMS Ltd Tel: +44 (0)20 3249 1072 / 07801 823 839 Kathryn.Hughes@russam-gms.co.uk |
| Downturn Survey |
| *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.“ |
| Recession hits Interim Management |
| • First market slowdown recorded since 2000 • Survey reveals 11% fall in Interim management volumes • Younger Interims and Interims in their 60s losing out to Interims in their 40s and 50s • Daily rates, paradoxically, at record high of £612 • Serious grounds for optimism about new opportunities 3 February 2009 – Interim Manager’s daily rates were still rising at 31st December 2008, according to the latest Snapshot market survey of 9000 Interim Managers from Interim Provider, Russam GMS. However, the survey revealed also an 11% drop in the volume of Interim Management work - the first slowdown recorded since the Russam GMS Snapshot Surveys started in 2000. In spite of this market slowdown, the average daily rate rose by 1.5% from £603 to £612 a day which is an all time high. But, Russam GMS cautions that this could be because daily rates are agreed at the start of Interim assignments and the market slowdown has not yet impacted daily rates. Interims specialising in IT commanded the highest daily rates – an average of £697 a day, closely followed by general managers on £669, with Interims working in HR and purchasing and distribution being paid on average £597 per day. Unsurprisingly, Interims working in the financial sector have seen their daily rate drop by 4% from £607 in June 2008 to £583 in December. However, for the first time ever, Interim Managers working overseas are earning considerably more than their UK counterparts – an average of £707 a day, though this is a fairly small sample. Commenting on the findings, Charles Russam founder and Chairman of Russam GMS, says: “This is the third recession that Russam GMS has lived through. The slowdown in the number of assignments is probably an accurate reflection of the market right now and, unfortunately, no surprise. It is however, encouraging that there remains a strong demand for Interims in many sectors including central and local government, the NHS, education and in the not for profit sectors in particular.” Interims in their 20s and 30s appear to be losing assignments to Interims in their 40s and 50s. 65% of them were on assignment in June 2008 but this had fallen to 48% by December. Interims in their 60s also saw a drop in the number of assignments they handled with 46% working in June and just 37% on assignment in December. However, over half – 52% - of all Interims in their forties were on assignment at 31st December. Russam believes this has nothing to do with ageism. He says, “When times are good and demand increases the engagement net spreads wider and when the market contracts, it’s all to do with competition and perceived merit. Our advice to all Interims is to keep skills up to date, stay sharp, restless and look the part at all times - there is no reason why older Interims should not play the same game.” Interestingly, there was also a shift in the way Interims saw their careers. There was a 4% rise in the number of Interims willing to consider a return to permanent work in search of greater job security. There was also a 2% rise in the number of Interims willing to move between Interim and permanent work. But, there was still only about 15% who were actively looking for a permanent job or hoping their interim assignment would turn permanent. Russam says, “With fewer assignments, there will be tougher competition for jobs in 2009 and it is inevitable that daily rates will be squeezed but “a fair rate for a good job” has always been our creed and our advice to all Interims has been NOT to work for less than a fair rate. Given the uncertain outlook, it is unsurprising that a greater number of Interims stated they would consider moving to permanent jobs for greater job security – presumable taking the view that there is greater security in permanent employment and that they will be able to find the jobs.” Another trend was the drop in the number of assignments being sourced through Providers. Russam comments, “Providers like us need to develop excellent client relationships, because with more Interims on the market, they will relied on less to find Interim talent. We also believe there will be new opportunities emerging out of the recession. While we cannot predict how the market will turn out this year, we know that projects still need to continue. Our experience has shown that businesses will see Interim Managers as a highly flexible, cost effective resource particularly when if they don’t have the budget for permanent hires.” Charles Russam also believes that this recession, as none before, will highlight the fundamental differences between stereotypical employees and the best Interim Managers. He concludes, “Employees often talk about rights, legal obligations, stress, work-life balance and are rarely quick to relate their pay to the actual value to their organisation. The best Interims don’t talk much about these issues; their thoughts are about competing, winning, delivering results, providing value for money and proving their worth. This is why, in the serious challenges that now lie ahead of us all, the best Interim Managers are going to be glad that they are Interims. And so are their clients.” |
| *Russam GMS appoints new head of charity practice to meet demand for Interim Managers* |
| 16 January 2009 Russam GMS, a leading provider of Interim Managers has appointed Ian Joseph as practice head for its Charities division to help grow and develop the business and meet the increased demand for Interim Managers in the not-for-profit sector. Ian Joseph brings to Russam GMS an in-depth knowledge of the sector and a great deal of experience. He joins from Rockpools’ not-for-profit business where he recruited high profile executives for clients in the sector. Prior to this, he spent over six years as Chief Executive of a medium sized charity called Hope Worldwide which specialised in the fields of homelessness, addiction, mentoring and international development. During his time there, he successfully established subsidiary organisations in Afghanistan and Pakistan working both pre and post 11 September 2001. Ian will work closely with Stephen Brooker, the Chairman of the Charities practice at Russam GMS to grow the business, engaging Interim Managers, existing clients and sourcing new ones. Ian comments, “I am delighted to be joining Russam GMS - it is the longest established Interim provider in the UK with a great reputation and a thriving charity business. Whilst the sector is by no means recession proof, there has been a growing use of Interim Managers in recent years in the face of increased pressure to deliver more public services and act more commercially and we see this as a trend that will continue this year. Interims are no longer just ‘gap filling’ they are being used to deliver highly strategic projects such as centralising and streamlining financial systems, managing tenders and bidding for government grants. My remit is to source talented Interims to deliver these kinds of projects for our clients.” Stephen Brooker says, “We are delighted to welcome Ian Joseph to Russam GMS. His vast experience in the sector gives him a keen understanding of the challenges facing organisations and the role that Interim Managers can play in solving their problems. We are confident he will be a tremendous asset to our business and will help our charity division prosper.” Kathryn Hughes PR Manager Tel: 0203 249 1072/07801 823 839 Email: Kathryn@russam-gms.co.uk |
| Recession & the Interim Manager |
| 12 November 2008
7 out of 10 Interims say Interim Management is a good place to be in spite of the looming prospect of fewer jobs, lower daily rates and tougher competition.
Just under half of the 920 Interims who responded (48%) claimed they are feeling the impact of the downturn already, with a mixture of projects being withdrawn at the last minute, companies choosing internal candidates over Interims, a greater number of Interims going for the same jobs, new Interims coming into the market and a squeeze on daily rates. Other major gripes were that some companies are taking longer to make decisions about recruitment and far longer to pay them. 72% of Interims believe that things will get worse before they get better. Many Interims however, were more optimistic, convinced that in this climate of constant change, there will be a need for experienced Interim Managers to deal with change management projects, restructuring and recovery situations. Turnaround projects, credit and working capital control work and assignments within central and local government departments were also considered areas of opportunity. Those who had lived through previous recessions were also more upbeat about the downturn – some actually see this one as short-term. The Interims polled stated that they will be deploying a number of coping strategies to stay on top during the next few months. They will be upping the ante by increasing marketing and networking efforts; improving the services they offer to existing clients; diversifying into other areas and many are even willing to retrain to move into niche areas either currently unaffected by the downturn or emerging as new markets. They claim they will be more flexible about where they work and the kind of projects they do. As a last resort, they will cut their daily rates. Responding to the somewhat provocative question 'Are you angry with anyone?' 40% of Interims do feel angry about the current situation. However, much of their anger is directed collectively at banks in general for lending money to people who couldn’t afford to pay it back, at successive governments’ failure to regulate more tightly and the Regulators themselves. Interestingly, some were most angry at themselves for not taking up opportunities earlier in the year when work was more plentiful. In spite of this gloom, 71% of Interims wouldn’t want to work in any other industry. Their positive outlook stems from the belief that more short term contracts will emerge in the next few months after the low point of the recession has been reached. They also think that a more flexible kind of resource, like Interim Management, will be an attractive option to businesses at a time when they want to be more flexible about their recruitment choices and keep their options open. Companies will be grappling with tough change management and recovery projects and will not necessarily have the skills in-house to deal with them, they also said. One Interim Manager stated, "once the market begins to hit rock bottom, the opportunities for true, seasoned Interims will be excellent. Interims are an ideal solution in uncertain times – they are calm, experienced and there needn’t be any long term commitment from either side. However, companies will have the intense commitment from a professional when needed.” Moving back to permanent work was not an option for the majority and would only be considered as a last resort. “If you made the choice to get out of corporate life and be in control of your own destiny, it has to be the place to be! Even top performers can be disposed of from corporate life quickly if they don’t fit in with a new leader or there is a downturn.” “Good people will always get work,” another claimed. Charles Russam, Chairman of Russam GMS stated, “What surprised us was the overwhelming focus of Interim Managers on finding their own solutions. The downturn is clearly impacting on the majority of Interims; the market is getting tough with fewer jobs around and more competition pushing down daily rates. But Interims are incredibly resourceful and self sufficient people and it is clear from our research, that there is more of this dogged determination of experienced Interims now available for clients. What’s more - having left the stability of permanent employment for many there is a feeling of no going back – only as a very last resort.” Russam GMS Director, Jason Atkinson adds, “We can only guess how the market will turn, but, having lived through three previous recessions, we know that even in a downturn, business projects must continue, fierce competition still exists and the over-riding importance of the brand needs to be maintained and made ready for the upturn. We know that many companies will see Interims as an ideal solution in these difficult times because they offer a means of recruiting flexible, heavy weight experience, cost-effectively when it is needed most. We are also likely to see the accelerating trend of businesses preferring Interims to the much more expensive Management Consultants. ” he added. To see the full ‘Recession and the Interim Manager’ Report – including hundreds of authentic comments from most of the 920 Interim Managers who responded to this Survey - go here. For interviews with Charles Russam, Chairman of Russam GMS, Jason Atkinson, Director of Russam GMS or to speak to Interim Managers, please Kathryn Hughes PR Manager Tel: 0203 249 1072/07801 823 839 Email: Kathryn@russam-gms.co.uk |
| Tight profit margins and skills shortage are biggest challenges for UK Manufacturers say Interim Managers |
19 March 2008 86% of Interim Managers claimed there was an industry-wide skills shortage and over half believed that the greatest skills gap was in general management. One in five also thought that employees with change management skills were needed, and 18% felt there was a lack of good project management skills in the industry. When asked what issues are worrying managers working in manufacturing the most at present – 35% stated that it was tightening profit margins; whilst 34% said that low cost off-shore manufacturing was the most significant threat. Increased EU regulations, a lack of skilled employees, rising interest rates and reliance on export markets were also causes for concern. Interim Managers are however pretty optimistic about the future of UK manufacturing, a third of Interims are more optimistic about the industry’s prospects in 2008 than 2007, 45% feel as positive as they did last year, whilst just 22% believe that the outlook looks worse this year. Interestingly, this positivity could be attributed to the fact that 75% of Interims worked on projects in 2007 that helped business start ups or existing businesses grow and develop. This is a far higher percentage than Interims who worked on downsizing projects (36%) or in off shore or outsourcing projects (33%). In terms of industry sectors, 51% of respondents felt the aerospace was particularly buoyant; 49% predicted that the pharmaceutical industry would experience strong growth; whilst 40% of Interims stated that both the food industry and the chemical industry were set for excellent growth in 2008. John Wilson, Head of Manufacturing practice at Russam GMS comments, “Whilst there are clearly challenging times ahead for UK manufacturers in terms of dealing with tough competition from overseas manufacturers and tight profit margins, Interim Managers are highly confident about the outlook for the sector and the fact that two thirds of their projects last year focused on business growth speaks volumes.” “One cause for concern however, is the significant skills shortage which appears to be particularly pronounced at managerial level. Whist this is good news for Interim Managers in terms of generating good employment prospects, it is an issue that needs addressing now if UK manufacturing companies want to retain their competitive edge in the future,” he added. |
| Strong demand for Interim Managers in UK Financial Services Sector despite market downturn reports |
10 March 2008 The market for Interim Managers in the UK financial services sector remains healthy, with an 18% rise in the number of financial services assignments recorded by Interim Provider, Russam GMS since January 2008. This is in spite of reports from KPMG and the Recruitment & Employment Confederation (REC) of a recruitment slowdown and planned redundancies in the City. “We have also noted that more of our Interims are being hired for specific projects to drive change, carry out major business turnaround projects or to manage pre or post acquisition processes. In such “bull” and “bear” market conditions these senior Interims and in particular, the turnaround professionals, have become very popular. Whilst the market outlook may be looking shaky for the permanent recruitment market in 2008, we see no such signs in the interim management industry,” he concluded. |
| Interim management eases slightly at the end of 2007 from all time |
31 January 2008 The Russam GMS Interim Management Monitor - a survey of 7500 Interim Managers polled in December 2007 revealed that demand for Interim Managers in the UK increased compared to 2006, with the number of assignments and daily pay rates at all time high. However, it also showed that demand for Interims eased slightly in December perhaps indicating the beginnings of a market slowdown. The average daily Interim rates increased by 4.5% to £580, compared with the same period in 2006, however, this figure is down 0.9% compared with June 2007. There was also an increase in Interim activity which was up 1.3% compared with the same period in 2006, with 52% of Interim Managers currently working on assignments. Charles Russam, Chairman of Russam GMS comments, “In 2007, the levels of Interim activity increased once again with record daily rates being paid in many industry sectors. We noted increased demand for Interims from the NHS, FMCG companies and central and local government where we believe that Interims are now being used more frequently in place of management consultants.” But he warns that this growth might not continue in 2008, “There was a slight slowdown in December, which could be a result of market uncertainty but, we won’t really be able to tell if this signifies any major changes in the market until March. January is a disrupted month with many decision-makers away until the second week and historically February is a comparatively quiet time so any suspicion of reduced trading levels before March might be explained. However, March is usually a very busy month in the Interim Management Sector and we would expect to see a serious uplift in activity- if this does not happen, we will know the market has changed,” he added. Interim Managers specialising in IT were commanding the highest daily rates in December 2007 - an average of £622; closely followed by general managers on £610 and sales and marketing executives who earned on average £595 a day. The sectors that paid the highest daily rates were the NHS, FMCG companies, Utilities and Professional services companies and in terms of location, Interims willing to work overseas were paid the highest rates, closely followed by Interims in working of the South of the UK. Talented Interim Managers are increasingly hard to find, which is why organisations are relying more heavily on Interim Providers to source them. 57% of all full-time Interims were resourced through providers in December 2007 with part-time Interims finding, in greater measure, their own assignments. Central and local government relied on them the most, with 75% of all central government Interim roles being recruited by providers. Interim Managers are getting younger too. Whereas previously Interims in their 50s secured the most work; 56% of Interims in their late twenties and thirties were on assignment in December; 55% of Interims in their 40s; 54% in their 50s and 44% of Interims in their 60s. Many Interims clearly relish their career with 34% of respondents stating they would never go back to a permanent job and 44% saying that they would take a permanent job only if the offer were tempting enough. We think that this points to committed senior managers with a commercial approach to their work and to their clients. Just 4% of respondents hoped that their assignment turns into a permanent job. |
12 November 2008 – Just over 70% of Interims feel that Interim Management is where they should be, in spite of the fact there are likely to be fewer assignments around, tougher competition for jobs and less pay, according to a new survey of around 10,000 Interim Managers – "Recession and the Interim Manager" by the longest established UK Interim Provider, Russam GMS. Only 7% of respondents said it was not where they wanted to be and 22% were uncertain.
A major skills shortage, tight profit margins and the threat of low cost offshore manufacturing are the top three challenges for the UK Manufacturing sector this year according to a survey of 400 Interims Managers specialising in manufacturing, commissioned by Interim Management provider, Russam GMS.
• 18% rise in Interim Job Assignments this quarter
• Interim daily rates rise by 4.5% compared with 2006