Interim Market - what are the predictions?
It is hard to predict whether the interim consultancy market is growing or shrinking. Latest statistics have shown how volatile the market has been quarter by quarter. The most recent IMA market audit conducted by Research Agency Ipsos Mori collected data for every contract completed across most industries. The financial industry has seen a decrease in contracts by 9%, whereas the chemical, biotechnology, retail and pharmaceutical sectors have witnessed an increase. The manufacturing sector has been suffering a lot since the recession and has seen a considerable decrease in assignments.
In addition to this, the share split between private and public sector might become greater as the Government is reducing costs.
The latest IMS Executive Interim Attitude Survey show interim staff are not very happy as many of them had to accept a reduction of about 25% in their pay packet, specifically for public-sector work.
At this stage companies are careful and will only approve assignments when there is an absolute need of extra work for specific niche skills.
It is not easy to get a clear picture of what is happening because there are many sector differences but overall there is a 50% belief that the interim market will grow in 2011.
Susanna Hofman is a candidate manager on the Interim Consultancy team for FreshMinds Talent