Interim executives are engaged in more assignments and are commanding ever-higher fees.
Personnel Today recently revealed that the public sector uses twice as many interims as anyone else, costing the taxpayer up to £1m a day.
Now research by the Boyden Interim Management consultancy of 650 interim managers has found that fees are on the increase, with 46% charging between £500 and £749 a day in 2004, compared to 42% in 2003.
Almost two-thirds (62%) earned more in 2004 than 2003, compared to 52% in 2003/02
The assignments are also lasting longer, with 60% saying they were on assignment for six months or more in 2004, compared to 54% in 2003.
Nick Robeson, chairman of the Interim Management Association, said interim executives were getting more work through intermediaries or providers, which was an important trend.
“The industry has been working hard to promote the importance of ensuring only the best and most experienced – and genuine – interim executives are appointed to what are usually crucial assignments,” he said.