Hunt Scanlon Media, a leader in human capital sector information, recently covered the trend for interim executive staffing and why it’s a valuable game changer.
Overseas, hiring interim talent for short term leadership needs has been a compelling option for companies for years. According to recruiters who specialize in the space, interim recruiting is big business – and getting bigger. It generates around $2 billion annually in just the U.K. alone.
British search out fit Norman Broadbentwhich recently raised $3 million to expand its interim business, offers clients the ability to fill talent gaps with high-caliber executives and provide opportunities for workers who seek to utilize various skills, build relationships with different organizations, and explore career options. It’s been a win-win proposition for years for the firm, which now plans to expand the service.
Norman Broadbent recently added two new members to its interim management team, and more are expected to follow. Jonathan Stringer will specialize in working with senior interim finance professionals, while Andy Haldenby will help identify new interim assignments.
Conrad Lee, of U.S.-based Patina Solutions, said interim opportunities in Europe are favorable for senior executives. “Here in the U.S. the employment-at-will doctrine is prevalent,” said Mr. Lee. “But the new and growing on-demand work environment in America is opening up the interim business more broadly to U.S.-based companies seeking the temporary talent alternative.”
“Expectations are that in the next five to 10 years, the interim business in the U.S. could shatter the staid, full-time recruiting platforms of leading U.S. search brands, he said. “This is clearly a market sector that is worth investing in,” said Mr. Lee.
Patina Solutions is hosting a one-hour webinar providing insights and lessons from four US-based manufacturers.
StevenDouglas a top boutique search and interim firm in the U.S., maintains a large interim business in the U.K. “We realized about 10 years ago we were turning away a lot of business,” said StevenDouglas chairman and CEO Steven Sadaka. Of the $43 million in revenue his firm took in last year, over $34 million was derived from its interim division.