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Why choose BIE?
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MORI Captains of Industry Survey for 2005
Key Findings:
Consultants v Interims
The proportion of Captains who consider that Interim Executives are more suitable and cost-effective than management consultants continues it steady increase to 56% (last year 52%).
Application Split
Covering sudden departure continues to be the top reason for appointing Interim Executives at this level. However, there is somewhat higher use of Interim Executives this year for start-up and turnrounds.
Who buys?
The proportion of Captains who have not used Interim Executives at senior/board level has decreased from 50% last year to 42% this year.
Reasons for not using Interims
Fewer Captains this year see no benefit in going to a specialist interim executive provider (11%, a significant drop from 22% last year). However, there remains some lack of awareness of specialist interim firms, as the following quote illustrates:
“If we knew there were specialist interim executive providers we might well use one. I wasn’t aware there were specialist interim providers.”
How are Interim Executives sourced?
The preferred method for sourcing Interim Executives continues to be to approach a specialist interim executive organisation. However, asking colleagues / associates to recommend candidates has increased as a favoured option as well as recommendations from colleagues of suitable providers (5% to 18%) and web search increasing from 1% to 4%.
Why use a specialist provider?
The main benefits of going to specialist interim executive firms are considered to be that these firms can provide access to executives with the right skills, quality and/or experience to match companies’ needs, that they have an established database and larger selection of available interims and that they can provide interims quickly and thus be cost-effective.
Appointments
Special Projects remain the highest application area followed by MD, Finance, Manufacturing / Ops and HR.
Future development of the Industry
There remains plenty of scope for communicating the real benefits of interim executive management. There is still a great deal of misperception of what good Interim Executives can deliver, how quickly they can get up to speed in a new environment and their level of drive and dedication.
The challenge remains for Interim Executive providers to maintain consistent and reliable standards of delivery – as well as educating the market that a ‘specialist’ in, say, search & selection is not necessarily also an Interim Executive specialist. This point is illustrated by the fact that several firms are cited by respondents as potential providers which do not in fact offer Interim Executive services.
To discuss your interim management requirements with BIE call +44(0)20 7222 1010