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Why choose BIE?
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Interim Executive Management - The Next 20 Years
Introduced into the UK from the Netherlands some 20 years ago, Interim Executive Management is now recognised as a truly established resourcing option, in particular as a real alternative to management consultancy. Its application is now accepted and proven across all sectors, both public and private, across all functions and by all sizes of organisations from FTSE 100 main boards to small private businesses and not-for-profit organisations.
However it still remains misunderstood and underutilised, and the industry faces a number of challenges if it is to go on to the next stage of its development and growth. In particular:-
- Definition
- Spreading the word / Positioning
- Finding the Talent
- Discovering the 'Headrenters'
Challenge 1 – Definition
The term ‘Interim’ has been hijacked to mean any resourcing option ‘off the payroll’. This has blurred the market. It is essential the service is not confused with temping, contracting, consultancy or ‘try and buy’ recruitment.
Challenge 2 – Spreading the word / Positioning
For an industry that has been around since the late 1980’s there has been relatively little investment in marketing and positioning of the service. In many respects it is seen as an ‘add on’ to permanent recruitment agencies or management consultancies - the ‘we do it too’ brigade. There remain very few dedicated specialist providers of senior Interims, such as BIE.
Challenge 3 – Finding the Talent
Senior Interims are a rare and special breed. Career Interims (more than 3 assignments) number only around 1500 in the UK. They are very difficult to find. BIE spends half its time meeting aspiring Interims on a continuous basis. With some 15% retiring each year and quoted annual industry growth rates of 15%, this means some 30% of additional executives need to be launched on new interim careers each year.
Challenge 4 – Discovering the ‘Headrenters’
The role of the Specialist provider – the ‘Headrenter’ – calls for a wide range of abilities, including a combination of consultancy skills to understand the client’s requirement, and an intimate knowledge and perception of potential candidates to make the correct match within days, not weeks or months. Skilled Headrenters will be needed to add real value to the process. Otherwise, Clients will revert to their own networks.
Conclusion
The Interim option is a well proven one but ill-defined, so much so that recent estimates for the UK Interim market have ranged from £300million to £1.3billion. What can be confirmed from recent Ipsos MORI and Executive Grapevine UK surveys is that, for senior-level roles - £600 to £2000 per day (inclusive of provider fees) - the revenue through Interim Providers is probably less than £200million, with some 20% or £40million representing the Provider margin. Other Interim revenues (i.e. not via Providers) are currently un-quantified. Whatever the actual number, it doesn't as yet begin to compare with UK management consultancy revenues of around £7billion per year. The opportunity is therefore enormous for Interim Management. It is up to the Headrenters to make it happen.
To discuss your interim management requirements with BIE call +44(0)20 7222 1010