Welcome to the 2020 Executive Grapevine Interim Guide which Oliver Sanderson is proud to sponsor.
The interim job market is in for an interesting year. The UK is set to leave the EU at the end of January and IR35 regulations come into force in the private sector in April. Either by itself would be cause for concern, but both occurring within months of each other inevitably means that the market is in for a bumpy ride until the ramifications of both become clear.
Brexit first. Recent noise from the UK government about moving away from EU rules and regulations could be a cause for concern. However, in order to navigate through these uncertain times with minimal stress we need to embrace the change, adhere to new government legislation and most importantly, work together to forge a positive path into this new era for the country.
IR35 will impact differently, mainly due to the new parameters around assessing which interim specialists are subject to the regulations.
But even with seismic events like Brexit and IR35, at Oliver Sanderson we strongly believe that there will always be a need for a flexible marketplace and interim specialists, pending disruption to the economy may actually increase this need.
We pride ourselves on being at the forefront of interim recruitment – our knowledge of the marketplace and our understanding of the pending regulatory change ideally positions us to advise on and mitigate the impacts for interim specialists and firms alike.
As ever, the key to navigating change is market knowledge, the need to be adaptable, and good partners that can help with both.
What are the benefits of hiring interim?
Natasha Makhjani founded Oliver Sanderson Group Plc in 2011 – a business which operates in the permanent and interim placement markets. Working with FTSE 100 firms, Natasha has made placements across business functions such as HR, finance, operations and transformation. Firms she has worked with include British Airways, Royal Mail and Mitie.
It’s a year of great change, uncertainty and risk. But what does this mean for the interim market and what are the benefits of hiring an interim versus making a full-time hire?
Starting with the obvious, in times of uncertainty organisations look to reduce costs. As a result, there’s noticeably less appetite to take on full time employees. Why employ a full-time employee when the situation ahead is unknown and far from clear? What happens if the situation deteriorates? As always though, there’s a corresponding uplift. Uncertain times for full time hires are a boon for interim specialists as they are ideally placed to provide short term solutions for projects that have already been commissioned and that need to be delivered. In this scenario hiring interims enables delivery to continue at a reduced cost in the short term.
Consider also the total amount of time that it can take from meeting a prospective full time hire to them starting their position if it is offered, six months is not unusual. A lot can happen in that space of time, one only has to look back at the past few years to see what’s changed in terms of the geopolitical landscape, radically in some cases. In times of risk, hiring interim specialists provides companies with the required immediate support to maintain their operations.
Immediate availability and timely support are two of the key benefits with regards to hiring interim specialists. However, within these two benefits lies a third. Not only can interim specialists start almost immediately, it’s what they start with that is of huge benefit to employers — specialist knowledge. This means that they can hit the ground running with immediate impact.
At Oliver Sanderson we believe that there will always be a need for a flexible marketplace and interim specialists, even more so in times of change and uncertainty, and we pride ourselves on being at the forefront of interim recruitment.
Find out more about how Oliver Sanderson can support your interim talent strategy at www.oliversanderson.com or email [email protected] or call 0844 567 5627 or call 07514 800 090.
Spence has enjoyed a varied career holding interim roles at the Manchester Airports Group, World Duty Free and Tie Rack Retail Group. Prior to this, he completed an MBA in Business at Alliance Manchester Business School.
The last couple of years have been turbulent for business with a succession of challenges and uncertainties, resulting in a reticence for organisations to commit to strategic change and development. Meanwhile competition has become fiercer, customers ever more demanding and choice ever increasing. In addition, it has become increasingly clear that using industry ‘recipes’ to address the challenges faced by companies is sub-optimal and that fresh thinking is needed to succeed.
But how do companies find injections of new ideas? [One] option is to employ an experienced interim executive. Armed with hands on experience, the skill and proven background in transforming a business, a price tag that offers genuine value and the confidence that they will bring the management team along with them, interims have become a popular choice for many companies from SMEs to FTSE100 firms.
Most commentators see 2020 as potentially one of the biggest years for companies employing interim executives, as they seek to address the challenges that have built up. One of the likely changes in the use of interim resource, however, will be a growing distinction between business as usual roles, which may well fall within the parameters of IR35 and those roles focussed on fast, hard hitting change, which will be mostly outside IR35.
Cost reduction has been an enduring feature of transformation for some years and whilst there will be no let-up in managing the cost base, more interim support will become focussed on supporting sustainable growth. As we embark on the new decade, businesses need to plan for growth or risk unrecoverable decline and an experienced interim provides an objective and skilled catalyst to delivering positive change.
Previously working in both the HR practice and the Finance Search practice at Eton Bridge Partners, Colgate has built up a dedicated network of clients. She now specialises in interim management opportunities within finance across the UK and internationally.
There is a tremendous opportunity for organisations to thrive by employing a flexible interim workforce alongside permanent employees. Creating a productive mix of permanent employees and highly skilled interims allows a business to increase or decrease staffing numbers based on current demands and skillsets.
The focus should be on subject matter experts; importing skills that are not available within the permanent employee community. There are no political, personal or career motivations influencing an interim’s perspective, resulting in the client receiving a truly impartial, independent perspective. An interim needs to make an impact and add value from day one to ensure they offer their clients an excellent return on their investment, whilst upholding their own reputation and legacy.
Interims are akin to a Swiss Army knife. They are useful and can be deployed in numerous ways. They are also extremely flexible and provide employers with the opportunity to up-skill for a short, intense period of time. When the future is uncertain (as it is now) interims provide a panic-free solution. Their deep experience means they are not fazed by seismic shifts (whether political, economic or technological). Their objectivity means they can speak truth to power. Their inner drive means they are resolute in steering the organisation through inclement times.