June 2012 Newsletter

The Rise of the Interim by Chris Bernard, Managing Director
If you had conducted a Google news search on the term 'interim executives' in recent weeks– you would have seen some fascinating results. Up and down the country, in every type of sector from public through to private, from Wetherby based Evocutis through to the global giant Astra Zeneca, the appointment of interim chief executives was being announced at SMEs and large corporates.  There were even examples in the sporting world - with Di Matteo lauded for his achievements as interim manager of Chelsea. It’s a barometer that reflects our own experience. Put simply, the rise of the interim hire certainly continues to keep pace despite the news of our double-dip economy. My personal view is that as a consequence of the protracted nature of this downturn, which for many is now not just a downturn, but the new status quo, the true value of the interim executive has never been more clear…..

Certainly, across our client portfolio, high volumes of Interim hiring are occurring within the banking, energy and manufacturing sectors.  Within manufacturing specifically, there has been a noticeable and steady increase over the last few quarters and we continue to work with organisations aiming to build world class centres of excellence across their global operations through the hire of engineering, technical and management competence.

With many of our clients exposed to the uncertainty and impact of Eurozone, this is a particular focus for the Randstad Interim Executive Team. We are working closely with organisations on creative talent sourcing solutions to enable them to remain on curve and ahead of their respective markets.  Transformation programmes are the order of the day within such businesses and we are deploying a wealth of Interim talent across many disciplines to support and realise our clients’ ambitions.

Yes, the economic update figures are gloomy and the global outlook uncertain but business is rarely so black and white. Interim hires continue to take place amongst businesses restructuring and expanding. For example, in the midst of continued market fluctuations there is also welcome news around a new pharmaceutical manufacturing facility in the UK (the first for 40 years)! 


News from our Pharmaceutical Practice
With further downsizing in the pharmaceutical industry likely to continue throughout 2012, interim recruitment is predicted to grow as organisations shy away from permanent hires. Over the last 6 months, Randstad Interim Executives has witnessed a 17% growth in requests for interim professionals - especially across the change management sphere…
It appears, after such a sustained period of change and upheaval in the pharmaceutical industry, organisations are keen to hire motivational managers with experience of leading a business post restructure. We’re seeing a number of requests for interims with strong people management skills who can manage special HR projects such as the rationalisation of terms & conditions, as well as final salary changes and the incoming pensions act.

Interim hires are also expected to benefit from the continued growth of private health care practices (ISTCs). Seasoned healthcare interims who have experience in managing hybrid services between the private sector and the NHS – whether HR issues, procurement/contracts or commissioning  - are very much in demand as the NHS continues to evolve in line with ongoing Department of Health initiatives.

Within the clinical drug development industry we have seen an increase in enquiries for experienced clinical programme managers/directors who have late phase; registry, observational and health outcomes study design and management experience.  These particular studies are designed to provide evidence based treatment data which is now demanded by healthcare providers and payers to determine a drug’s value or best -practice treatment for particular health issues and chronic diseases.


Energised Sector Leads to Interim Hires by Claire Hain, Head of Practice, Commerce & Industry
The latest advert from EDF Energy taking You Tube by storm isn’t the only thing making people smile in the energy sector. Consumers, and as a consequence, interims, also have plenty to feel positive about, after Nick Clegg’s announcement that energy companies will need to write to their customers if their current tariff becomes less competitive than another in their price list…. This huge shift in consumer power is expected to make itself felt at the heart of all energy businesses - the customer services call centre.

We have recently been mandated to bring in interim talent to effect huge change in the way these operations are run to hugely positive effect. Most recently a client needed to bring in specialist resource to manage a business critical systems implementation project whilst ensuring business as usual for their customers with no knock on implications; a difficult objective to achieve - but one which the hire of a specialist interim resource was able to provide.

In times where the utilities industry is undergoing huge change in the way it conducts itself and manages its customers’ needs and requirements, interim managers are providing much needed regulatory experience and customer insight knowledge from their  depth and breadth of their understanding of a variety of sectors.  


Financial services firms need to be ever more agile to succeed. Is there a “googlebank” on the horizon?  Asks Mike Fisher, Head of Practice, Financial Services
The launch of Barclays Pingit is the latest salvo in the mobile payments war. This is part of the future – but who will dominate and how will they achieve this? Retail banking firms are no longer competing with their traditional competitor a few steps across the high street. Google, Apple and Facebook have today’s brand. They trade and position themselves as the new cutting edge kids on the block. For the Y generation these are the trusted brands they have grown up with, who have been established, despite a high street presence, as a major force in less than 10 years. Innovation, a fast and efficient launch process and attracting the right talent is key to a successful product….

Given the time to hire permanent staff and the intense competition, there is a real danger that areas of retail banking could be over taken by more nimble, well-funded high profile brands. The solution and salvation could well lie in high calibre interims with cross industry experience, who can bring specialist knowledge in days not months. Their expertise has been proven to accelerate product launches to market, bringing true flexibility and agility.

We have seen a growing trend within financial services to hire specialist expertise from non-financial services backgrounds. This has never been more paramount in areas related to mobile payments such as customer service, customer insight and marketing. To compete with new competitors, the traditional ways of doing things must evolve – and on a rapid timescale.