Interim Managers In Vogue Among SMEs

06 Feb 2018 | 09.01 am

Interim Managers In Vogue Among SMEs

CAIM survey finds firms increasingly hiring interim financial expertise

06 Feb 2018 | 09.01 am

Businesses in Ireland are becoming increasingly reliant on hiring in financial expertise on an interim basis, according to a survey by Chartered Accountant Interim Managers (CAIM), a Chartered Accountants Ireland networking group.

The survey of nearly 250 organisations showed that respondents are engaging interim managers (consultants/contractors) for specific assignments on a flexible hire basis, with a focus on competence and experience.

Commenting on the survey, Patrick Byrne, chairman of CAIM, claimed that businesses in Ireland are facing into the yin-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,” he said.

Among the key findings of the CAIM survey:

• 69% of respondents indicated they retain external resources in order to access expertise not otherwise present in the organisation.
• Respondents stated they expect to use the services of interim managers more in the future, particularly for short-term needs.
• 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.

Byrne added that an interesting trend among businesses was the tendency to hire expertise to solve problems or to complete discrete
projects. “We see a market demand for excellence in workplace solutions and project delivery. These demands are being filled on a business-as-usual basis by interim managers with their specific skills and expertise.”

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