Will Brexit create more assignments for UK based Interim Managers?
Ever since the UK voted to leave the EU in June 2016 we have been asked this question nearly every week by Interim Managers keen to find out how the UK’s decision to leave the EU might affect their interim assignment opportunities. In truth, this is a complex question to answer and the feedback we have thus far from our clients is mixed as they are still unsure themselves how Brexit will affect their businesses. As a result we thought we would take a look at where opportunities within the Manufacturing sector might arise for Interim Managers as a result of the vote for Brexit:-
We have prepared a list of examples of where interim assignment opportunities might arise:-
- Reshoring – companies may choose to relocate the manufacturing of their products back to the UK thus creating opportunities for Interim Project Managers.
- Outsourcing – companies may decide to outsource activities to other organisations within the single market.
- Factory Relocations – Some organisations may choose to relocate their businesses. As a result Interim Managers who have the experience of moving facilities may benefit from this process.
- Turnaround & Recovery – Some businesses may struggle if access to the single market is denied. Interim Turnaround Managers may therefore be in demand.
- Merger & Acquisitions – It is possible there will be a number of mergers and hostile or friendly acquisitions as companies seek to benefit from the ‘new’ trading conditions negotiated as part of the Brexit deal.
- TUPE/Redundancy – Should M & A activity arise then it is possible there will be assignments for HR Professionals skilled in managing the fallout from such M & A activity.
- Productivity Improvement – Industry commentators tell us on a regular basis that the UK is not as productive as other parts of the world. Interim Managers who specialise in improving business performance may well be in great demand.
- Supply Chain Management – The need to reduce costs, particularly for manufacturers which import raw materials will become very important. If sterling continues to remain weak against the USD and Euro then the need for strong, seasoned negotiators may well be required to set up new agreements and implement lean supply chains.
- Sales & Marketing – New International Trade deals may bring about opportunities for UK Manufacturers to export their products to ‘new’ geographies. International Sales and Marketing professionals with specialist knowledge of certain countries and cultures may be required.
These are just a few of the possible requirements for Interim Managers as a result of Brexit. What is clear is that at this moment is that the exact route Brexit will take is uncertain. We will continue to post on this subject as we receive additional feedback from our clients.