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IMA: Interims provide 'value for money'
Interim executives provide businesses with value for money, despite their initial greater costs, a leading industry membership organisation has suggested.
The Interim Management Association (IMA) has claimed that work remains plentiful in the current economic climate in the public sector as organisations that have previously created interim management positions realise the value that temporary executives bring.
However, the representative body did recognise that the present market conditions have led to a saturation of interims in the job market - with many laid-off executives claiming to be experienced in transitional roles, Mandadeals.co.uk reported.
David Harries, manager at the IMA Institute, explained that interims traditionally have the necessary skills to make wide-scale changes within corporations.
He told the online news provider: "Some people who have never used an interim may be concerned about the cost, but those who have used one understand the value that an interim can provide."
The advantages that interim executives offer businesses were also highlighted by the corporate planning specialist Phillip Mydlach last month, who claimed that they bring a fresh perspective and are able to fill the "talent gap".
Charlotte Baker, Head of Practice at OdgersInterim Public, added: "How you evaluate what is a good deal is tricky. Many public sector organisations have moved to procurement-led activities which undoubtedly save money but do not necessarily get the best value for money at senior level although for volume hiring they can be fantastic.
"One of our interim executives renegotiated a land deal in his first few weeks with a beleaguered acute trust, saving them £3 million pounds in an area they had not even considered. His day rate of £1,200 was initially considered steep, clearly in the round this is not so. Intelligent clients buy wisely and will think about value rather than cost."