"An Interim Manager adds value to an organisation when there is a specific need for a specialist set of skills and when there is a sense of urgency for a project to be completed within a short time frame.
They will create quick results as well as deliver and implement new systems and processes efficiently. This is becoming increasingly popular within organisations that are going through a business transition and/or change." - Rachelle Weingott, Practice Lead - Contracting
The right senior talent should be an invaluable resource to any company. Particularly in a period of transition, or when a specific talent need arises, finding the right person to drive a project or lead the ship out of the storm is one of the best investments a company can make.
In the current economy, some of the best senior talent is looking for the flexibility that interim or locum work offers. Ccentric conducted research* to better understand how to engage the best interim resources and how to keep them happy in order to maximise your investment.
- 62% of people said that they would work away from their home location for an interim position
- 70% of respondents cited flexibility as a key benefit in their undertaking interim assignments
- Almost 63% of people choose to go through a recruitment agency when seeking locum work
What can I expect from an interim executive?
The research demonstrates a fairly even spread of responses in relation to how committed people are to interim management roles, however when asked if in the last 12 months their perception of interim work has changed to become an option for themselves, 52% responded ‘yes’.
Six in ten people said they would work away from home for an interim position, with the largest percentage of these respondents being those who are characterised as ‘result-driven’ people.
Preferred methods of engagement
Interim workers prefer to conduct contract engagement via a third party, with almost 63% of people choosing to go through a recruitment agency.
Key concerns and drivers for interim workers
One of the most prominent drivers of interim workers seems to be the benefits they’ll receive in lieu of being a permanent employee.
Where people were working away from home for an assignment, they expect flights to and from home, accommodation and access to transport. For longer assignments, people were also interested in getting sick and annual leave as part of the package.
In response to the key drivers to undertake interim work, the highest results were the desire to achieve good work/life balance and the opportunity to gain exposure to different environments and knowledge sets. Seven in ten respondents cited flexibility as their second key benefit in undertaking Interim assignments.
Of those actively taking on interim positions, the most likely reason they are required by the employer was to either fill a short term gap or because specialist skills were required.
What’s my ROI as an employer?
Interim executives can be an excellent solution in times of a skills or senior executive shortage.
They’re willing to work hard and travel away from home, but they expect to be well compensated.
A combination of a generous travel and allowance package, flexible working arrangements and the opportunity to gain experience with new areas or skills will ensure you have a committed and happy contractor.
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