There is a widespread sense of optimism among interim management market players, the latest survey from the Interim Management Association (IMA) has revealed. The results show that an impressive 89% of interim management providers expect 2014 to be a growth year for the sector.
Only 11% of the poll participants said they harboured less optimism with regard to growth prospects in 2014. According to IMA chairman Jason Atkinson, the results indicate a revival of spirits among interim management providers following the downbeat mood that prevailed after the start of the recession. The growing number of briefs received by sector players serves as proof of that: the increase can be observed both in the private and public sectors, driven by the growing awareness of the benefits interim managers can bring, Atkinson noted.
The latest IMA poll reinforces the findings of the most recent industry survey conducted by Ipsos MORI. Covering the third quarter of 2013, the Ipsos MORI report indicated that growth was stabilising: IMA members had joint turnover of £42 million. This was comparable to the amount recorded in the previous quarter and 29% above the figure for the first quarter. It now remains to be seen whether the next Ipsos MORI survey mirrors the optimism revealed by the IMA poll, Atkinson said.
"This was comparable to the amount recorded in the previous quarter and 29% above the figure for the first quarter"
Commenting on the results, Eton Bridge Partners managing partner Ashton Ward attributed the growth in interim demand to an upswing in business investment and corporate transactions. After holding back in the past two or three years, companies are resuming investment to pave the way for future growth. With growth activities accelerating, organisations are looking to interim managers to secure the necessary skills for their projects, Ward said.