As Autumn turns to Winter, What will next year bring?

Paul Wilson looks ahead to what 2009 will bring the Interim Management sector

At this time of year the mornings are darkening, the trees shedding their leaves and my thoughts turn to the end of another extremely busy year. But I wonder, can we look forward to the same in 2009?

Interim Management as a concept has now been accepted by both large and small organisations within the UK for some time. Recruitment consultants providing permanent staff tell me that the interim sector has stolen some of their market share and their business growth has slowed down. But will we see the same in the interim market?

I think not, in fact I predict that 2009 will be an extremely fruitful year for those managers and providers able to negotiate the debris the credit crunch has left in its wake. Yes, we will undoubtedly need to ‘sell’ our products/services but that is not new for those engaged in the interim sector – however this time, there just might be more people willing to listen to our message.

In recent weeks many have had their world turned upside down. Who would have thought just 12 months ago that we would be seeing banks being nationalised, decade old institutions going to the wall and the globe frozen by financial fear.

As I am writing this we have yet to see the full extent of the fall out from the global credit crisis but you can pretty much guarantee that there are going to be some pretty large pieces to pick up and large shovels will be the order of the day.

All business sectors are going to be looking to reduce costs and bank borrowings, increase productivity and get a better return on capital employed. The bonus culture enjoyed by many in the financial services sector and the city in particular are either going to be curtailed, regulated or radically altered.

With regards to recruitment, strategic decisions are most likely going to be taken regarding senior executives in particular. Questions such as “Do we hire permanent staff or try interim management?” are going to echo around the country’s boardrooms.

Organisations which have been largely safe as houses will now need people with different skills sets including those with turnaround and merger & acquisition experience. Business processes will need to be re-engineered and productivity will need to increase through the use of philosophies and techniques such as lean manufacturing and six sigma.

Which sector is best placed to provide these skills?

I am calculating that both Interim Managers and Interim Management Providers will have a good year in 2009.

Select your shovel………