Odgers Interim

Rising demand for interim executives signals shift in senior talent employment

Wed, 25 Aug 2010 09:37:00 +0100

Odgers Berndtson launches interim practice dedicated to temporary senior management solutions

Odgers Berndtson is expanding the firm's global presence in interim management by establishing Odgers Interim in Canada as a practice dedicated to supporting its clients with the placement of the most talented people into senior executive positions on a temporary basis.

"The demand for interim executives has risen significantly in the last decade and represents a major shift in the way companies think about their executive-level needs," observes Jane Matthews, President of Odgers Interim Canada

Businesses today generally run leaner at a management level, with constant demands for the skills necessary to adapt to market shifts. A seasoned executive in place over the short term can help them navigate organizational change, address issues and challenges, fill a gap created by a retiring or absent executive, or provide senior-level expertise to lead major projects and initiatives.

The demand for interim executives is expected to grow even more, as demographic trends show one-third of today's workforce will be eligible for retirement by 2015. Many executive-level gaps in the private, public and not-for-profit sectors will be filled with interim talent. In other global markets - particularly the U.K., which is the largest market for interim services - companies now view interim work as a business solution and a sub-sector that offers a challenging and rewarding career option for experienced executives, states Carl Lovas, Chairman of Odgers Berndtson.

"There will be a very exciting transfer of knowledge happening over the next two decades," Matthews predicts. "Interim executives provide immediate, short-term management skills but in the long term they add value to our clients' businesses. They are there to imbed best practices and leave a legacy of improvement."

Interim work doesn't have the stigma that it might have had a decade ago, as more diverse, younger executives are choosing interim work as a career, Matthews says. She explains that interim executives are talented individuals who are motivated by the challenge of quickly contributing to the success of a business and then moving on to the next position. Interim executives, who come with a wide range of experiences drawn from the senior executive ranks, have often chosen to pursue this career path because of the flexibility and professional reward that it provides. And then there are interim executives that have taken advantage of early retirement opportunities, who still have the drive and desire to use their skills and experiences to make a difference.

Odgers Berndtson is the largest interim management provider in the U.K. and brings the knowledge and experience it has amassed globally to Canada. Although the company has been providing interim search expertise to its Canadian clients on an ad hoc basis for some time, the establishment of a dedicated interim management group reflects the rapidly growing market for this type of recruitment.

As part of Canada's largest executive search firm, Odgers Interim has an unrivalled network of senior executives who are committed to interim work and whose experiences cover all disciplines and a wide spectrum of businesses. The firm's reach - both nationally and globally - enables it to respond to interim executive placement needs quickly, and to ensure a match in terms of 'fit and talent'.

"We are committed to ensuring a thorough understanding of our clients, their culture and market environment, enabling us to provide interim executives who can make a difference from day one," Matthews says.

About Odgers Berndtson

Odgers Berndtson is a leading global presence in executive search, with operations in 24 countries and 50 cities worldwide. In Canada, Odgers Berndtson has grown to become the largest retained executive search firm in Canada, with offices in Vancouver, Calgary, Toronto, Ottawa and Montreal. It serves clients in the private, public and not-for-profit sectors, and is a leader in recruiting CEOs, boards of director and C-level roles for a variety of organizations.

Its collective resources, vast experience and extensive industry knowledge enhance the firm's ability to deliver outstanding leadership talent to clients. Its consultants apply the knowledge they have gained working in a variety of sectors to generate solutions that work for clients

Change management skills 'essential for business'

Tue, 15 Jun 2010 11:39:33 +0100

Companies of all sizes need executives with the skills and expertise to deal effectively with change, an expert has claimed.

Speaking to Fresh Business Thinking, management consultant Hilary Briggs said examples of change usually fall into two categories - the immediate crisis or the long-term process.

"The latter ... can be more dangerous, as there may be no reaction until it's too late," she told the website.

Ms Briggs, who also chairs the central London group for the Academy for Chief Executives, explained that the ability to anticipate developments is a key attribute for interim executives or other senior figures with change management responsibilities.

"The key to being a good leader of change is to anticipate as much as possible, to start doing something before a problem actually appears," she commented.

Last month, the Financial News website reported that demand for executives with change management skills is growing among hedge fund and private equity firms, with the industry facing significant regulatory reform in the wake of the financial crisis.

Odgers Interim are UK leaders in Interim Management solutions for the Commercial Sector. We have offices in London, Birmingham, Leeds, Manchester, Glasgow, Aberdeen and Cardiff as well as over 50 offices globally. We are the only Interim Management providers who are part of a top tier international executive search firm. We work closely with our executive search colleagues to find candidates who can offer short term solutions with long term benefits. www.odgersinterim.com

Interim chief executive appointed at Barnsley Hospital

Mon, 14 Jun 2010 10:37:26 +0100

An interim chief executive has been appointed at Barnsley Hospital.

Paul O'Connor has joined the Foundation Trust as the body seeks a permanent chief executive following the departure of outgoing head Sandra Taylor.

Mr O'Connor has almost two decades worth of experience with the NHS, having previously worked in London and Birmingham, as well as leading the NHS North West's Quality and Innovation initiative.

Stephen Wragg, chairman of Barnsley Hospital, said it was important an interim appointment had been made.

"We needed Paul to make an early start to make sure that the Trust could progress its strategy and business plans for the coming year," he stated.

Mr O'Connor said that he was looking forward to the challenge and wanted to provide Barnsley with a hospital "that strives to be the best".

Earlier this year, Barnsley Hospital signed up to become an NHS Employers Equality and Diversity Partner for 2010-2011 – one of only 23 hospitals in the UK to do so.

Odgers Interim are UK leaders in Interim Management solutions for the Public Sector. We have offices in London, Birmingham, Leeds, Manchester, Glasgow, Aberdeen and Cardiff as well as over 50 offices globally. We are the only Interim Management providers who are part of a top tier international executive search firm. We work closely with our executive search colleagues to find candidates who can offer short term solutions with long term benefits. www.odgersinterim.com

Interim accountancy appointments 'set for long-term growth'

Thu, 10 Jun 2010 09:53:40 +0100

Although accountancy contractors in the public sector are bracing themselves for major job cuts, the long-term prospects for interim managers in the industry could be positive.

Matthew Brown, managing director of workforce management firm Giant Group, told Director of Finance Online that staff working at the Financial Services Authority and the Bank of England may find their jobs do not survive the government's drive to slash public spending.

However, he pointed out that the ongoing search for cost savings and more efficient budgets in the public sector could also create new opportunities for interim executives with financial expertise.

"In the long term, there could be increased use of accountancy and interim financial controllers to help find the efficiency savings which will be central to reducing the deficit," Mr Brown told the website.

A survey from Giant revealed a growing number of accountancy contractors expect investment banks to provide the most job opportunities this year, with deal-making activity beginning to rebound.

The Recruitment and Employment Confederation recently said interim managers have an important role to play in forthcoming public sector reforms, as departments will be forced to become more flexible and seek new ways of working.

Interim managers crucial for public sector reform, says REC

Wed, 09 Jun 2010 12:38:22 +0100

The Recruitment and Employment Confederation (REC) has reiterated its view that interim management expertise will play a significant role in driving change across the public sector.

Roger Tweedy, director of research at the organisation, said a new approach to resourcing that embraces workforce flexibility should help public sector leaders to deliver "longer-term sustainable savings".

He was speaking as the REC's industry research unit unveiled its new Hire Power guide, which was launched yesterday (June 8th) to coincide with the Public Sector Summit in London.

"Hire Power concludes that the effective use of temporary agency and interim is pivotal to the success of public sector reform at every level," Mr Tweedy commented.

Last month, the REC's director of external relations Tom Hadley said interim managers and other temporary staff can play a "leading and cost-effective role" in guiding specialist projects in the public sector.

His comments followed those of Giles Newman, healthcare sector partner at Grant Thornton, who wrote in the Times that a series of mergers and acquisitions will help the NHS to become more cost-efficient.

Businesses urged to consider specialist expertise

Fri, 04 Jun 2010 18:01:00 +0100

An employment expert has urged firms to start planning for the future following signs that confidence is gradually returning to British business.

Tom Hadley, director of external relations at the Recruitment and Employment Confederation (REC), said companies should now consider how the introduction of new skills and expertise could drive their growth.

In the latest JobsOutlook survey published by the REC, 96 per cent of employers said they expect their workforce to remain static or expand this year.

For some companies, new appointments may take the form of interim executives, who can guide the business through a period of change as it continues to emerge from the recession.

"Any company looking to grow in the future needs to carefully consider the skill-sets needed to support this growth," Mr Hadley commented.

He also advised firms to assess whether they require "additional staff or expertise to make this change possible".

Last month, Mr Hadley said interim managers will play a "leading and cost-effective role" in the delivery of public sector services following the £6.2 million spending cuts announced by the government.

New interim chief planned for Doncaster Council

Wed, 02 Jun 2010 15:50:15 +0100

Communities secretary Eric Pickles is set to appoint a new interim chief executive to take the reigns at Doncaster Council.

According to reports, the minister will make an announcement in parliament later today (June 2nd), setting out his intervention plans for the struggling local authority.

Doncaster Council was labelled the worst in the country in April following a damning report from the Audit Commission, which strongly criticised the organisation's political leadership.

Mr Pickles is expected to announce the appointment of a new interim chief executive for the next 18 months and confirm plans for a team of commissioners to mentor councillors and officials.

The council's current interim leader Jo Miller told the Local Government Chronicle she expects to stay on until the end of June, when the new chief executive will take over.

Ms Miller arrived in Doncaster last month on a temporary secondment from her role as deputy chief executive of the Local Government Association.

Interim managers 'can provide training function'

Tue, 01 Jun 2010 10:28:12 +0100

Businesses hiring an interim executive for specialist projects can get more out of their temporary appointment by asking the manager to train up existing employees.

The Financial Times reports that using interims to "capture knowhow" is one way for companies to make the most of the time such figures spend in their organisation.

Interim professional David Pickering explained how the specialist expertise of the interim manager should then filter down to other employees, making them equipped to deal with similar situations in the future.

"Get your interim manager - alongside doing the job that they were brought in to do - to mentor a member of your staff," he told the newspaper.

This approach was also recommended by Ian Dyson, information technology director for the Co-operative Group, who said the presence of an experienced interim manager can add to a company's knowledge base.

According to figures published by the Interim Management Association earlier this year, 32 per cent of all IMA assignments in 2009 related to leadership and project management roles.

Interim chief appointed at Yorkshire Forward

Fri, 28 May 2010 16:34:34 +0100

Regional development agency Yorkshire Forward is poised to name Thea Stein as its new interim chief executive.

The appointment has already been announced internally and is now awaiting official confirmation from the Department for Business, Innovation and Skills, the Yorkshire Post reports.

Ms Stein, who currently holds the position of executive director of economic inclusion at the organisation, will replace outgoing chief executive Tom Riordan at the end of July.

According to the newspaper, the new interim chief will be responsible for steering Yorkshire Forward through the forthcoming programme of spending cuts across the public sector.

Having previously worked as chief executive of Leeds North East Primary Care Trust, she is expected to start the role on a fixed-term contract of one year.

Yorkshire Forward is headquartered in Leeds with another four offices across the region. The organisation receives central government and EU funding to promote economic development across Yorkshire and Humber.

Change management expertise 'required in hedge fund industry'

Mon, 24 May 2010 17:23:12 +0100

Changes to the regulation and management of hedge funds are creating new opportunities for managers with specialist skills.

This is according to the website Financial News, which notes that demand for change management executives has grown steadily among hedge funds and private equity organisations since the financial crisis.

In addition, many funds are becoming more confident about their executive recruitment strategies due to the steady inflow of assets under management as the economic recovery continues.

Hedge funds currently face major changes in Europe, with discussions over the EU's controversial Alternative Investment Fund Managers directive dominating the sector in recent months.

Designed to crack down on speculation and risk-taking by placing funds under a super regulator for the first time, the directive has been heavily criticised by industry figures who fear it will drive operators out of Britain and into offshore locations.

About 80 per cent of Europe's hedge funds and private equity operators are currently based in the UK.

Large firms 'targeting emerging economies for M&A'

Thu, 20 May 2010 17:24:32 +0100

Major businesses are increasingly looking to achieve growth through mergers and acquisitions (M&A) in developing countries as they emerge from last year's recession.

According to the Financial Times, much of this year's notable M&A activity has focused on the "fast-recovering" economies of emerging nations, rather than companies in the US, Europe and Japan.

Data from business information group Dealogic shows the value of deals involving foreign firms in developing countries has already reached a total of $137 billion (£95.4 billion) this year, compared with $179 billion for the whole of 2009.

In addition, analyst Yael Selfin of PricewaterhouseCoopers told the newspaper that large companies based in emerging economies are becoming more influential in the global M&A market.

"Multinationals from emerging markets are particularly active because they benefit from strong growth in their home markets, unlike their western counterparts," he explained.

Data published by Thomson Reuters earlier this year revealed that the total value of M&A in Asia surpassed European-based deals for only the second quarter on record in the first three months of 2010.

Effective change management 'requires strategic leadership'

Wed, 19 May 2010 08:55:17 +0100

Companies carrying out change management procedures require executives to display strong leadership skills.

According to Hootan Sherafat, a columnist for WCW Insight, businesses expect their resources to remain fairly scarce for some time, meaning that there is a stronger focus on core competencies rather than "non-current projects".

Mr Sherafat said the challenge for interim managers and other executives is to bring in cost-effective measures while still coming up with involve business policies.

"Management must make uncomfortable choices and at the same time keep team motivation levels high," he suggested.

Last month, Gartner blogger Mark McDonald said that those in charge of change management initiatives need to consider how their policies will impact upon individual team members, while also meeting compliance requirements.

He added that change management can be judged to be successful when staff members adopt their behaviour, something Mr McDonald believes "requires them to adopt new work practices and tools one at a time".

Interim chief executive appointed at Milton Keynes Hospital

Tue, 18 May 2010 08:56:46 +0100

An interim management appointment has been made at Milton Keynes Hospital following the departure of its chief executive after nine years in the role.

Jill Rodney resigned from her post last Friday (May 14th 2010), with a statement from the hospital putting her exit down to "personal reasons", reports the Milton Keynes Citizen.

Dr Walter Greaves, chairman of Milton Keynes Hospital NHS Foundation Trust, said: "It is with reluctance that I have accepted her resignation."

As a result, Mark Millar, the former chief executive of Hinchingbrooke Health Care NHS Trust, has been appointed interim chief executive.

He will take up his new temporary role from June 1st 2010, as the search begins to find a permanent successor to Ms Rodney.

Earlier this month, the General Dental Council (GDC) also appointed an interim chief executive following the departure of Alison White.

Ian Todd will also act as registrar during his time at the GDC.

Interim roles 'suited to skilled and well-qualified workers'

Mon, 17 May 2010 16:00:21 +0100

Staff in part-time or interim management roles are able to make better use of their time in such a job than younger, less-qualified workers without a permanent position.

This is the view of Steve Huxham, chairman of industry body The Recruitment Society, who stated that older workers are more likely to be able to put the expertise gained over a lifetime of employment to good use in a temporary role.

"Somebody that already has skills and is using them in a part-time way, or in a contract way, can always turn around and say they haven't lost their skills," he stated.

Mr Huxham said it may be more difficult for younger people in temporary positions, as they are likely to find it harder to get a job that is on their chosen career path.

Last month, figures from Ipsos Mori revealed that the banking and finance sector is making greatest use of interim managers.

More than one-quarter of interim management appointments were made in this industry last year.

European investors expect M&A increase, says report

Wed, 12 May 2010 09:58:15 +0100

Investors in Europe believe companies will continue to hoard cash this year, but many are also expecting to see growth in mergers and acquisitions (M&A).

This is according to a new survey from Fitch Ratings, which found that the proportion of investors forecasting a "significant" increase in M&A over the next 12 months has doubled to 15 per cent, Bloomberg reports.

However, Fitch also noted that general investor sentiment suggests organisations will continue to exercise caution with new ventures.

Monica Insoll, managing director in Fitch's credit market research group, explained that 79 per cent of survey respondents believe maintaining capital cushions will be a "significant or moderate priority" among European firms for the remainder of 2010.

Data from Bloomberg shows Europe currently accounts for 14 per cent of global M&A, down from 30 per cent between 2005 and the third quarter of last year.

A recent report from Ernst & Young revealed that M&A activity in the global technology sector increased by 14 per cent in the first three months of 2010, despite a relative lack of "big-ticket" deals.