Published on June 18th, 2014 | by Chris Lain

When Demand Outstrips Supply in the Interim Management Market

In what is an increasingly positive marketplace, demand in the interim management market is noticeably high. But with a large number of skilled candidates in assignment, some organisations are experiencing a real talent shortage. Alium Partner’s Head of Resourcing Chris Lain, explores why and shares his own solution.

Demand in the Interim Management Market

We are nearly halfway through the year and the economic recovery shows no sign of slowing down. Unemployment figures continue to decrease and key financial indicators are still on a positive upturn – this should be great news for candidates and clients – shouldn’t it?

Surprise Shortage

However, this buoyant interim management market is also a danger for many clients who are looking for particular skills and expertise. As candidates have become less available, a talent shortage has developed in certain sectors and functions. Some companies are realising, too late, that their previous attraction methods and projects are no longer enough to hire the people they need. This shortage has taken many by surprise – but there are ways that companies can avoid this pitfall.

Specialist Skills

Organisations that require specialist skills and knowledge often look inside their own sector first. In some cases, industry specific experience is a compulsory requirement. For example, an interim COO in an NHS Trust would need to have a demonstrable track record of running successful hospital operations in order to succeed. However, constantly looking inside your own sector is not always the best approach.

Candidate Market

Companies that want to obtain high quality interim talent who can perform and deliver in the role, must be much more open minded in their search. In what is now essentially a candidate driven market, attitudes towards recruitment and candidate assessment need to look at skills and experience, over sector specific backgrounds.

Limited Resources

There is much to be said for transferable skills in today’s competitive business environment, especially where the pool of experts in demand is constantly being recycled. If companies can look beyond the sector when assessing a potential interim or full time employee, they may be able to unlock undiscovered talent. Organisations must remember that there is only so many sector-specific specialists to go round.

Functional Fit

Nowhere can this new approach be better applied than in traditional interim requirements. From HR and finance to IT and Project Management, companies who strive to see beyond a sector and capitalise on a candidate’s functional experience are the ones who will gain the most competitive advantage.

Do you believe there is a talent shortage in the interim management market today? What do you think the solution is?

Tags: interim management

About the Author

Chris Lain Chris' work focuses mainly in the private sector where he has the responsibility for identifying and assessing candidates for specific roles and the delivery of interim assignments, whilst also establishing long term, mutually beneficial relationships with candidates and clients across a variety of industries.