01.05.09

Recession Means Two Thirds of Interim Managers are Struggling.

The thoughts of many soon-to-be or recently made redundant and unemployed managers and executives inevitably turns to interim management as they contemplate how to get back into work. So news that two-thirds of existing interim managers in the UK claim to be struggling as a result of the recession, may make many would-be ‘interims’ think twice about joining their ranks.

According to the second ‘Recession and the Interim Manager’ survey of 10,000 interims from interim management provider, Russam GMS, only 31% of interims said they had not been affected by current market conditions.

Half of all respondents said their main problem was fewer assignments on the market and 19% claimed that clients were taking longer to make decisions.

And 11% complained that the market is now flooded with people who have been made redundant from their permanent jobs, many of whom have no previous interim experience. However, 61% remained confident that interim management is a good place to be right now in spite of these challenges.

Charles Russam, chairman of Russam GMS, commented: “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.” 

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