Interim Management Survey – The Current Climate – Goodbye 2023 and Welcome 2024
Russam’s Managing Director, Jason Atkinson, has diligently conducted surveys among a pool of approximately 750 interim managers to capture insights into the mood, activity, and emerging trends in the market. With a year’s worth of statistics, he has made some noteworthy observations.
I am pleased to report that our final survey for the year reflects a more positive sentiment regarding the outlook on Interim Management assignments in 2024. The headline statistics reveal a 24% increase (from 51% to 63%) in those expressing a “positive” or “neutral” outlook for client work since August 2023. The table below illustrates the closest grouping of results over the past 18 months, indicating a market in flux.
This optimism stands out amid ongoing economic uncertainty, leading companies to hesitate in committing to new hires. Permanent appointments are contracting at a higher pace, as evidenced by a recent KPMG survey, marking the second quickest contraction rate since June 2020 (COVID). In contrast, contractor/temporary appointments, including “Interim” roles, show resilience in our market. Companies increasingly recognise the need for the flexibility that Interim Managers and senior contractors offer in the current environment to swiftly accomplish tasks.
A glance at six interim roles logged in our CRM system last week provides insight into the proactive and strategically led mandates driving this trend:
- Interim Improvement Consultant – Professional Services
- Interim FD – Growth charity
- Interim Operations improvement Expert – Chemicals Manufacturing
- Interim Chief Impact Officer
- Interim PM – Business Transformation
- Interim MD – B2C Tech
All six fall within the “good to great” category, showcasing a proactive approach rather than being tied to crisis, insolvency, or major problems. These roles leverage the skills and immediate availability of “over-qualified” Interim Managers.
My team and I share a very positive outlook for 2024 and are eager to add value to our clients in the coming year.
For now, though I wish you all and your families a very happy holidays.