The growing role of interim management in the UK economy was highlighted at an impressive seminar this morning (July 9) at the CBI.
Yet, despite the growth of the market in the last decade to a £200 million industry in the UK, it is perhaps more pertinent to note that the market is not worth more.
A quick comparison with the size of the more costly alternative of the management consultancy business, approximately £6 billion according to various estimates, demonstrates the difference. Clearly, a residual distrust and ignorance of the industry is evident.
Why is this so? It is clear that interims are already performing valuable roles throughout the economy particularly in the current downturn where they have been frequently brought in to position the business for sale.
Nevertheless, it appears that a misunderstanding of the interim role continues to exist among all but the most enlightened HR departments and companies.
That it would be easier for companies to bring in a highly experienced outsider to solve change management issues appears to be borne out by more than anecdotal evidence.
Most pertinently, the interim does not bring any of the political or office baggage that inevitably comes with an insider.
Which leaves cost. Anybody who refuses to take on an interim on a cost basis needs to ask just one question however.
Quite simply, could the long term cost of not bringing in someone to effect and manage change ultimately undo your company?
Have you used an interim manager? Was it effective? Give us your feedback