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Filling the skills shortage

Hydrocarbon Engineering,

It has been estimated that 820 000 more science, engineering and technology professionals are going to be needed in the UK by 2020 and the Interim Report 2013 from Executives Online shows that industry is now turning to interim managers to fill its skills gaps. The report has shown that interim managers are more likely to be on an assignment and feel busier than they did two years ago. 61% of the interim managers in the UK surveyed were on assignment, 37% working on full time contracts and 15% in part time placements. In 2011 only 53% of interim managers were on assignment with 29% in full time roles.

Work status

27% of the interim managers surveyed said they were busier this year, an increase of 20% on two years ago. The average number of days billed in the last year by individual interim managers is up 152, from 135 in 2011 and 2009.

‘The work status figures from our research show a slow recovery to levels that are beginning to approach those seen before the global economic crisis,’ said James O’Brien, managing director at Executives Online. ‘The number of interim managers working in full time assignments has risen to 37% after falling below 30% in 2009 and 2011, however, the figures are not yet back up to the higher levels of 56% in 2006 or even the 40% seen in 2007. The percentage of interim managers working on part time assignments has remained at 15% since 2011 and the number managing portfolio careers, in other words working full time via a combination of part time placements, has also stayed constant at 9%.’

Gender pay gap

The report has also highlighted that the gender pay gap has increased in the last couple of years. ‘Our 2011 Interim Report showed that the gender gap in interim management pay rates had all but disappeared, with women earning £ 604 to men’s £ 607 per day. However, this year we see the gap has widened again and women are earning an average of £ 596 per day to men’s £ 647. This is equivalent to an 8% pay differential,’ said O’Brien.

‘Given the overall recovery of billing rates, it seems that either women haven’t yet put their rates up in response to a more buoyant market, or that men have been quicker to do so.’

Reasons for engagement

According to the interim managers surveyed for the report, 35% of their assignments were commissioned to fill skills gaps within their client’s existing management teams. 16% of companies utilise interim managers to help transform their organisations and a further 8% for business turnaround programs. 8% of companies use interim managers when they need additional management capacity, 9% while looking for a permanent employee, 11% when implementing a major initiative and 2% to strengthen an existing project team.

 Adapted from a press release by Claira Lloyd.

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