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Market trends for senior interim appointments...

Posted by
11 Mar 2015
It's fair to say that different times of the year prompt demands for different skill sets. Currently, there are fewer high quality local candidates on the market and competition between organisations for the best talent is the highest it has been for the last six years. As a result, candidate rates have increased and the need to look further afield, to London, Bristol and Edinburgh, in order to find the best talent is becoming more common.
 
In the last 6 months we have seen a trend of North West based candidates taking interim roles in London. This is due to the rates offered by businesses in the city where rates can be inflated by more than £200+ per day compared to the Manchester market. Some of our clients have become savvier to this and raised the levels of pay to counteract the pull of London.
 
Good candidates will always have a range of offers on the table and will always be at a premium. The market is more sector relevant driven than ever before, with clients expecting a lot more criteria 'ticked off' before a candidate even gets to first interview stage. This can sometimes restrict the number of roles that good candidates can be right for, meaning that a client can sometimes miss out on the best available talent.
 
The number of candidates willing to relocate to Manchester for an interim role is also diminishing. In 2013, the market was tilted heavily in the organisations favour; in 2014 however the power sits firmly with the candidate. Good candidates now have a number of job offers on the table and can make a decision on which role they choose to take. Key identifiers when accepting roles are salary, length of contract and the flexibility of a client to enable home-working.
 
A huge shift that's become evident is candidates being offered alternative interim roles while still in contract. Clients are beginning to lose interims at the latter stages of contracts; this mirrors what the market was like at it's boom period of 2006-07. The market has shifted in a candidates favour and we are advising clients to grant early contract extensions and tie interims into projects so they don't have alternative roles run by them.

Another example of the upturn in the interim market can be seen as candidates are having counter offers made when handing their notice in at their current role. We have examples of pay rises and more flexible working hours being offered to keep candidates in a role.

In summation, businesses can't assume that finding an interim will be a simple job. The market is competitive and to ensure that they snag the best talent, they must be as competitive with their interim hires, as they are with a permanent contract...

For further information about current market trends in the finance and accounting sector, contact Hugh Almond on 0161 834 1643.
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