Businesses in Ireland are becoming increasingly more reliant on hiring in financial expertise on an interim basis according to a survey by professional networking group, Chartered Accountant Interim Managers (CAIM).
The survey of nearly 250 organisations shows that respondents are engaging Interim Managers (Consultants/Contractors) for specific assignments on a flexible hire basis, with a focus on competence and experience.
These demands are being filled on a seamless basis by interim managers with their specific skills and expertise in areas such as senior financial management, corporate finance, governance, strategy and business decision-making.
Patrick Byrne, Chairman of CAIM, explains, “There’s no doubt that the nature of work is changing and the interim professional model is seen as a positive contributing factor to organisations’ needs now and into the future. Businesses in Ireland are facing into the yin-and-yang of a growing economy and Brexit uncertainty. The implication is that the accessibility of externally available expertise on a flexible basis, as the go-to solution, is an extremely valuable asset for the coming years.”
- 69% respondents indicated they retain external resources in order to access expertise not otherwise present in the organisation.
- The availability and flexible nature of Interim Manager expertise is highly valued with respondents reporting that they’ve had a positive experience to date.
- Respondents stated they expect to use the services of Interim Managers more in the future, particularly for short-term needs.
- Respondents’ needs in using external resources are to access the expertise of Interim Managers, followed by a requirement to fill a gap or to add additional executive support.
- 75% of respondents stated personal and professional networking is most often used for identifying and hiring an Interim Manager.
- A personal recommendation and the expected level of impact are the most important factors in hiring an Interim Manager, followed by professional qualifications and experience and trust.
- Competence to get the job done was most important in the buying decision followed by a “Ready-to-Go” immediate solution.
This survey was designed by Chartered Accountant Interim Managers and sent via email to professional business contacts of members of the CAIM group, linking back to a Survey Monkey® questionnaire. Responses were collected from July to October 2017, with 238 being collected in total.