Since January 2006 Hoggett Bowers Executive Interim has been keeping activity records to collate and analyse every nine month period. This insight helps the Practice to track hit rates, spot trends and generally add fact to instinct to help improve the business. The following summarises the last 9 months and draws comparisons with previous 9 month periods.
From 1st January 2012 to 30th September 2012 was our 9th consecutive 9 month period of activity analysed by Hoggett Bowers Executive Interim. Key findings were;
Period 9: 1st January 2012 to 30th September 2012
- Average Interim Managers (IM's) on contract: it is worth noting the most challenging period for the Interim business was period 5 (1st Jan 2009 to 30th Sept 2009) in the heart of the recession. Since that time, period 6, 7, 8 and now 9 have shown an increased number of appointed interims presenting a total increase of 38.65% across that period.
- Opportunities: The number of interim proposal opportunities (“enquiries”) in period 9 showed a slight decrease against the previous period by -6.56%, this followed a decrease between prior periods 7 and 8 of -8.5%, which represents a total decrease since period 7 of -14%. However, it was still an increase of 29.5% in comparison to the low point of period 5 (1st Jan 2009 to 30th Sept 2009).
- Hit rate, offers v enquiries: Our success rate has increased in Period 9.
- Source of all assignment and proposal opportunities: This has shown a swing back towards our more ‘normal/usual’ split between the Hoggett Bowers Executive Interim and Search businesses this period. This means our search colleagues are increasingly finding that interim management is an effective solution for their clients.
- Top sectors: Since this analysis began, Industry (largely comprising of; energy, utilities, engineering) has consistently been the top sector. In the last 5 years, the top 3 sectors for the Interim practice have been Industry, Financial Services and Consumer Goods, however, period 9 has seen a change with Financial Services as the top sector with 35% of the enquiries, CG S 2nd with 28% and Industry a close 3rd with 26%. (The 4th and 5th sectors were TMC and Other accounting for 5% each).
- Top functions: Finance has been a constant at the top of this analysis since we started, however last period 8 saw Sales & Marketing (inc commercial and customer services) at the top followed by Finance and HR joint 2nd. In period 9 the top joint functions were Risk and Operations/GMMD roles, both with 16%. Finance and Programme Management roles were joint 2nd with 14.75% followed closely by HR with 13% of enquiries. Interesting to note is that the Sales & Marketing category fell away to just account for 10%.
NB: The Next period to be analysed is 1st October 2012 to 30th June 2013, which will be available in August 2013.
Gauge on the Market
We are still seeing the market as a challenging environment. It would be foolish not to keep an eye on the current economic picture, both European and global, and how our clients are responding. However, in 2012 we continue to see a desire for companies to make effective change within their organisations. Whether the catalyst is a regulatory one, appetite for growth or a need to reduce costs, the landscape continues to be one of change and transformation. The majority of the time where change is desired or required, there is a need to bring in outside talent to make it happen in the most cost effective and efficient way possible. Therefore, we predict that the very talented executive interim managers, for leadership roles or projects, will still be in high demand throughout the second half of 2012 and into Q1 2013.
Click here for previous year Practice Insight
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