Senior managers are responding to boardroom politics by sideshifting into the interim management market, suggests new research.
A study conducted by the Interim Management Association reveals medium-sized companies in the UK are increasingly employing interim managers, suggesting that the economy is set to turn.
At least 80% of FTSE 250 companies are employing interim managers at executive and board level. This is an increase on 65% last year and the highest level for five years.
Currently 55% of all provider-registered interim manager are employed on assignments.
Interim managers tend to be employed when change, challenge, crisis or progress are on the agenda, according to Nick Robeson, chief executive of Boyden Interim Management and chairman of the Interim Management Association.
The current trend has two drivers: managers wanting to go interim and businesses wanting senior people straight away but without having to employ them for the long term.
Robeson said many of the managers that send him CVs are responding to boardroom politics or "musical chairs" or feel the economic environment is right for them to sideshift into the interim market.
"Sideshifting is like downshifting but without the economies," Robeson says.
"The responsibilities and pressures of going interim can be bigger and tougher than being permanently employed." But the rewards can reach £2,000 a day, he added.
However many businesses still fail to realise what interim managers can do for their companies when they are searching for permanent senior managers.IFAonline
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