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LATEST SURVEY BY ‘HEADRENTERS’ BIE WITH MORI SHOWS GROWING CONFIDENCE IN INTERIM EXECUTIVES OVER MANAGEMENT CONSULTANTS AND INCREASED PREFERENCE FOR SPECIALIST SUPPLIERS.
6 March 2003
The recently published results of the interim management section of MORI’s Attitudes of Britain’s Captains of Industry Research Study (Dec 2002), sponsored by BIE Interim Executive, has shown that, as in previous years, Captains’ confidence in the value of interim executives in implementing change continues to grow. However, there remain 61% who are non-users, suggesting significant potential for further take-up of this resourcing option.
Of those chairmen, CEOs and managing directors from the UK’s FTSE 500 companies who have brought interim executives on board at a critical time, there has been a continued growth in the proportion of Captains who feel that this resourcing option is more cost effective than using management consultants. This trend has been reflected year on year since the first interim executive management survey four years ago in 1999. The net positive opinion (that is: positives outweighing negatives) in favour of interims continues to grow – 20% (2000), 30% (2001) to 34% in 2002. Interims are now favoured by experienced users by a ratio of over 6 to 1.
The recent trends in previous appointments showed that Special Project Directors are now the most frequently appointed interim executives (48% - a rise of 18% points from 2001). Interim Finance Directors continue to be in demand (45%), and appointments of Interim HR Directors have increased noticeably since the previous year (from 4% to 13%). The percentage of Interim IT Directors and Manufacturing/Operations Directors rose slightly (to 19%).
The need to find an immediate resource to manage crisis perhaps not surprisingly has shown an increase to 13% of Captains using them last year compared with 10% the previous year.
When looking to source an Interim Executive 56% of Captains would consult a specialist interim provider, an increase of 16 points on last year - suggesting a growing awareness of the benefits of resourcing through a formalised service.
Martin Wood, MD of BIE Interim Executive, says: “Many organisations are currently undergoing massive change which has to take place very quickly to meet the uncertain market conditions. The UK’s Captains of Industry are increasingly seizing the opportunity to parachute top level resources into positive and negative situations to move things forward as quickly as possible. In many cases, it’s a matter of survival”.
Notes to Editors
- MORI interviewed 164 board directors of Britain’s leading companies (top UK 500 by turnover, FTSE 500, top 100 by capital employed) of whom 74% were Chairman, CEO, MD or President. 48% of respondents worked for companies with more than 5,000 employees and 58% of the companies were based in London. Interviews were conducted face-to-face by executive interviewers between 4th September and 6th December 2002.
- The BIE / MORI Captains of Industry Survey was started in 1999 and over four years has tracked trends in senior-level UK interim executive management. For the past three years it is the only externally commissioned independent and published research for the interim executive management sector. Copies of the survey results are available from BIE Interim Executive Ltd.
To discuss your interim management requirements with BIE call +44(0)20 7222 1010