In our Guide to Interim Talent, we look at the reasons why a business may use interim talent and the benefits in doing so, and we also consider the drawbacks and the instances when interims really won’t work. Plus, we explore the relationship between the client (business), the interim provider and the interim, and look at how we expect this market to evolve over the coming years.
Here we share the 7th and final part: What’s next for Interim?
The new normal in business is fast, transformative and disruptive. Most traditional rules and processes are being turned on their head everywhere you look and nowhere is this more apparent than in talent acquisition.
Nimble, high-performing organisations are keeping pace with modern business by continuously improving the way they access the best people, and whether that’s on an ‘employed’ or ‘independent’ basis is becoming an afterthought – the pressing question is “how can I access the talent I need, today?”.
Therefore, ambitious firms are increasing their use of agile, on-demand expertise. We see this market going from strength to strength, encouraged by changing attitudes to the 9-5 job – the professional gig economy is thriving.
As the world of work continues to change, we see outstanding talent from traditional management consultancies, large corporates, and everything in between entering the interim market as freelancers, contractors, independent consultants, portfolio careerists, and advisory board members or NEDs.
These 3 trends are happening now and will continue to gather pace…
1. High calibre professionals are engaged on multiple, shorter-term or flexible, ‘gigs’ with a portfolio of clients at any given point.
This is primarily driven by the ‘win-win’ between the interim and the client by only utilising the interim when required – efficiency for the client and variety for the interim. UK tax laws are a secondary consideration here; adapting to, but also partially encouraging this approach (see the Taylor review).
2. There is a ‘sweet spot’ between traditional management consultancies and ‘contract’ recruitment agencies.
Good providers have been adapting their models for some time now, and this is taking a share from each market. Clients and interims are receiving much higher service levels than the ‘agency’ model, and there are cost, quality, and agility benefits when compared to management consultancies (generally speaking). Outcomes for engagements are becoming more clearly defined, Statements of Work more commonplace.
3. Skills are adapting
Consulting, marketing, and business development skills are of equal importance to technical and professional expertise for interims. It’s a competitive market and, whilst great change-agents have always had strong people skills, the demand to stay ahead of the competition means building and maintaining a ‘small business’ mentality and the relevant capabilities. Good interim providers are facilitating this skill acquisition.
Needless to say, Laudale is responding to these trends, and more. We are just scratching the surface here, and believe there has never been a more compelling time to be in the interim market – as an interim, a client, or as a provider.