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2013 has been an interesting year. We are definitely seeing an increased appetite for kick starting projects or change programmes that had been on the back burner with a real push in the last half of 2013. Our clients are keen to engage with highly professional Interim Executives who can help drive change programmes forward.
The latest Ipsos MORI IMA (Interim management Association) survey (Q3 2013) completed by all IMA members is showing encouraging news in that the figures are showing stabilised growth for the sector and member firms are maintaining current levels.
Interestingly the findings show the most common reason for an assignment remains Programme/Project Management with 62% of all interim executives hired for this purpose (up 6 percentage points from 56% in Q2 2013) although this could be used to badge a variety of assignment needs.
Turnaround/Crisis Management has increased 1 percentage points to 12% (11% in Q2 2013) which seems to fit with what we are seeing. The private sector still accounts for the largest proportion of assignments at 60% although down 5 percentage points from the previous quarter. The Financial Services sector continues to lead the private sector with 45% of all assignments being from this sector. However, this sector has declined compared to Q2 2013 (59%). The other leading sectors are Business Services with an 11% share, IT & Telecommunications with a 7% share and Manufacturing with a 6% share this quarter. The public sector has grown its share from 35% in Q2 2013 to 40% in Q3 2013.
Female Interim Executives are accounting for 36 per cent of Assignments – a figure that continues to increase, and the highest recorded since 2010.
It would appear that the changing landscape of the market continues and although client briefs are sometimes quite tight and their requirements quite prescriptive, the good news is that they are engaging someone to work with them with a realisation that the added value, deliverables and ROI are proving to make a worthy investment.