PAYE umbrella contractors specialising in interim management may well find themselves drawn to sunnier climes, following the publication by Russam GMS of its annual International Interim Market Report.
500 interim managers were polled for the report, which aims to provide a yearly snapshot of the industry. Over three quarters of the respondents (79%) reported that overseas firms are eager to lap up UK interims because there is a dearth of suitably qualified candidates locally.
UK heads are being hunted most vigorously in Europe, closely followed by the USA, Canada, the Middle East and Africa. Asia is rising as the next market to grow, with the BRIC countries in hot pursuit. Strong future growth is also anticipated in Western Europe when the Eurozone crisis has abated.
Interims working through umbrella companies or limited companies may well find the attractions of working overseas very tempting – the work is often stimulating, the climate and landscapes beautiful and the pay rates higher. There are challenges too: coping with cultural differences can be a strain and feeling isolated is not uncommon.
The majority of interim assignments (55%) are in project management, with general management and business development coming in second and third.
Russam Interim’s Managing Director, Jason Atkinson, commented:
“Clearly, the international interim market is less evolved than the UK. Many firms don’t hire women in senior positions. We hope this will change over time and it will be easier for women to work overseas. Notably too, many Asian countries currently don’t tend to hire interims, but this market may also evolve – Asia and BRIC were cited as the big areas of future growth.”