| In the News |
If you require more information or want to request an interview with a spokesperson from Russam GMS, please contact:Kathryn Hughes PR Manager 02085 474022 or 07801 823839 Or please email: Kathryn Hughes. Please click the headings below to reveal full article. |
| Ron Knox joins Russam GMS to help boost private sector interim practice Recruitment International, January 26th 2012 |
|
| Interim Management Express Delivery People Management, January 9 2012 |
More HR people are turning to interim management as a career path, stimulated by the challenge and variety of roles. Employers, too, can benefit from an HR professional who can hit the ground running – and deliver results |
Recruiter, Wednesday 4 January 2012 |
| With roughly 40,000 charitable organisations in the UK likely to have a trustee vacancy and 22% of young people unemployed, there are opportunities for both parties in 2012. That’s according to Ian Joseph, director of Trustees Unlimited, a trustee recruitment company run as a joint venture between the National Council for Voluntary Organisations (NCVO), legal firm Bates Wells and Braithwaite and interim recruiter Russam GMS. Joseph says: “Charities would benefit from the skills, energy, ideas and creativity that young people could bring to their boards. “However, it is not just the charities that would benefit; with 22% of young people currently unemployed, becoming a trustee could open doors to new contacts, enable them to gain valuable work experience and pick up skills that could be transferred into any future role.” Here are Joseph’s tips for those considering a charity trusteeship position: • find a charity you feel passionate about • understand who the charity’s beneficiaries are and what your responsibility and time commitments would be working for it • check that the organisation’s strategy and objectives match. |
Guardian Professional, Wednesday 4 January 2012 |
| The voluntary sector is experiencing a rise in the demand for interim managers. Opportunities for interim managers to work in the not-for-profit sector are increasing, especially for those with a private sector background. Voluntary organisations and charities of all sizes and causes are bringing in outside expertise to guide them through change as they re-position themselves in the current economic climate.
The interim market in the sector is so buoyant that one specialist recruitment agency says the past quarter is looking to be its best for four years. "The number of job opportunities in this final quarter are 100% more than they were this time last year. It's our best results for four years. That is significant," says Ian Joseph director of charities and not for profit practice at Russam GMS. Other agencies also report that the demand for interims in not-for-profit organisations is higher than that compared to local and central government where opportunities have either disappeared or slowed down. There is a need for experts with a track record in mergers and acquisitions. Opportunities also exist for interims who can identify new commercial income streams as charities struggle to match the level of donations they had 18 months ago. "We are talking about commercial directors – people who position sales and marketing of products and services who can give a charity a much broader base," says David Fielding, Attenti's head of not for profit practice and a special adviser to the Association of Chief Executives of Voluntary Organisations (Acevo). Charities, he says, are more willing to employ a temporary interim to identify and help them change the organisation in order to survive rather than take on somebody permanently from a commercial background. "It's a less scary option for a non-commercial organisation," he says. Opportunities for interims at chief executive level have also emerged as charities realise they have to keep the role filled while a replacement is found. There can be a five month gap between a chief executive leaving and having a successor in place. But charities can no longer afford the luxury of relying on another senior director stepping up into the post temporarily, says Fielding. "There is such sensitivity from organisations because of reduction in public spending and major donation, that the idea of not having somebody senior at the top such as a CEO is somewhere charities are not prepared to go, so the solution is to get an interim in. This is where I have noticed an increase in appointments." Recruiters are reluctant to predict how long the present demand will continue. Interim contracts are usually for six months but in the current climate around 70% of these are being extended, says Joseph. He says while the "mood music" is good it is too early to say whether the last quarter of 2012 will prove to be a blip or the start of an upward trend. Raj Tulsiani, chief executive of Green Park Executive Resourcing and vice chairman of the Interim Management Association, believes that the recruitment boom is temporary. Charities are bringing in interims to change the organisation to help them deliver the same level of service for less and keep front line services in tack. "Most of the big charities are already half way through that process of cost savings and increasing the efficiencies of their infrastructure. I think we are half way through an 18-month [recruitment] bubble." If there are more interim appointments does this create a new career path for senior managers made redundant from the public sector? Not necessarily, according to the specialist agencies. While it may increase the options open to those from the private sector, a newly redundant career civil servant or local council senior manager may not be so fortunate. "What people are looking for is breadth of experience so I think if you have only worked in one sector then you will struggle as an interim," says Fielding. This article is published by Guardian Professional. Join the Guardian Public Leaders Network free to receive regular emails on the issues at the top of the professional agenda. |
HR Magazine, Monday 12th December 2011 |
By Mary Carmichael But for canny HR and resourcing directors, these terms are simplistic: those who have learned to make the right decisions on interim managers find good ones can be key to steering an operation through choppy waters, driving a successful business to even greater heights, or turning a struggling one around. Interim managers' assignments vary. They are often brought in to fill a position on a temporary basis - to cover maternity or sick leave, for example - or to manage a division the company plans to sell. They might be hired to identify and oversee a specific project, as a troubleshooter for an acute problem, or to add support during a significant period of change and growth. Most often, they are there to advise on and/or implement change - redundancies, perhaps, integration, a recruitment drive or the launch of a fresh initiative. Interim specialists agree about 90% of assignments involve change management in some form. Jason Atkinson, Managing Director (private sector) at interim provider, Russam GMS, and chairman of the Interim Management Association (IMA), says there can also be even more strategic reasons for going down the interim route: "When a company wants to do something new and knows a competitor has done it and done it well, they might come to us to find someone who has worked for that competitor." An interim manager's most obvious advantage is expertise. Often, they are considerably over-qualified for the position and have solved the same problem or dealt with the same situation many times before. It is a level of experience and knowledge a company might not be able to afford on a permanent basis, but a properly structured assignment can deliver many of the same benefits. So what could make an HR director baulk at bringing in such an asset? Money is usually the main issue. Daily rates average just over £600, depending on the sector, but they can go as high as £1,200 for someone operating at the highest level on a global scale. "The client might think: 'Crikey - that's a lot multiplied by 365', but it doesn't work like that," explains Charles Russam, chairman of Russam GMS, founder of the company in 1982. "Someone in a permanent position might cost the company £80k in salary, but company car, pension, holidays, medical benefits etc might bring that up to £130k or £140k. If you divide 200 - the average number of days worked a year - into that, you get about £700 a day. So the real cost is low." Stephanie Campbell, director of interim management provider Veredus, suggests cost isn't the major factor here, anyway. "Rather than cost, you should look at value," she says. "A good interim adds value from day one. They're not working to the clock or getting involved in office politics and there's no training needed and no honeymoon period. They are just focused on completing the task in hand: they bring the expertise, because they have done it before and done it in spades." Being an interim is not for the faint-hearted. There is no guarantee of continuous employment, the hours are long and they may be working far from home. And there's the uncertainty - how long the job will last? Will it be extended? Where's the next one coming from? And there's a lot asked of interims. They have to be able hit the ground running, work flat out and deliver quick wins. They can be professionally isolated and often face resistance. This working life does not suit everyone - even those with the necessary knowledge and experience - and just about everyone involved in the industry is keen to stress interim work is different from doing the same role as a permanent employee. The mindset is different too. "Someone who is only doing a contract between permanent jobs has an eye continuously on the full-time opportunities," says Kevin Bishop, director of talent, development and resourcing at mining giant, Anglo American. "I want someone who is a professional interim and doesn't need others to run round after them." Nevertheless, the latest recession has meant the leading providers being swamped with CVs, although only about 10% will be deemed suitable. "The test is to get them to set up their own limited company and complete two assignments using their own network," says Veredus's Campbell. "Then we know they're serious - and they know if they can make it as an interim manager." Those who do make it relish the constant challenge and the variety and want more control over working lives - not just flexibility over work, but also what work, with whom and at what pace - and these attractions mean the demographics have shifted. Where the profile of the typical interim was once a man in his late 50s who had final salary pension schemes, the average age has fallen considerably and many more women are now opting for interim work. So what makes a good interim? "The real advantages of interims are adaptability and high emotional intelligence," says Campbell. "Technical knowledge is important, but you have to have people skills and sensitivity to the organisational culture." With this high level of emotional intelligence, a good interim manager can assess a situation quickly and negotiate the potential minefield of employee resistance with diplomacy. John Parr, an interim HR specialist for 12 years, says employee uncertainty is a given in most assignments, but rarely a problem: "People are expecting change and they know you're there for a purpose, so they are part of the way there. They know you are not there to manage the status quo." Interim managers are generally more hands-on than consultants and implement strategic decisions. They also leave legacies, transferring and infusing skills and knowledge to incumbent teams, even helping to hire and embed some permanent employees. Kate Mansfield, manager of the HR practice of Alium Partners, which focuses exclusively on senior-level interims, believes the best interims are emotionally independent: "They are exceptional at managing stakeholders, but are thinking about their exit strategy from day one," she says. So, how does an HR director formulate an effective strategy and how do they make each assignment work at optimum level? Not surprisingly, there is general consensus that planning, preparation and communication are key. "The assignment has to start with a careful written brief and with frequent reviews, so both parties can take stock," says Russam. "Have regular formal meetings. The important thing is to make sure there's complete alignment and for the interim to check, 'am I delivering?'" Fresh Minds' Myatt believes HR directors have to be clear about what they want - and seek input from other stakeholders. "They need first to define the end result," he says. "They need to be clear about what they want to achieve and they must also get buy-in from different management teams." Raj Tulsiani, CEO of Green Park Interim and Executive Search, recommends devoting at least the final two days to a detailed handover - and planning this from the start. "The interim should be able to provide each incumbent in the relevant team with a blueprint for the next six months," he says. Even when the assignment is clearly defined, finding the right person is absolutely crucial - and that is where many companies call in a specialist interim provider. These are not just about recruiting the interim managers, but also about providing support. BIE, an interim provider that operates exclusively at senior levels, is offering a different approach to some clients to develop pre-screened 'talent pools' to resource the ebb and flow of an organisation's needs. This means that, while the interim provider cannot guarantee specific people will be available - no good interim is going to sit around and wait on the off-chance - they can guarantee the skill-set and type of person. "You are not starting from scratch," says BIE marketing manager, Andy Turner. "The approach works best in sectors undergoing a lot of change and real complexity [such as financial services]. One thing we are not able to do with any great certainty is to predict demand and, with this way of working, we know client X is going to need Y over the next two years." Atkinson believes HR directors can get even more from clever use of interims and predicts a shift in approach in the future. "We challenge firms now, telling them they should have at least one interim on each management team; someone who can shake things up," he says. "Many management teams have been together for a long time. "It is not just about tackling a crisis or a problem, it's also about thinking more strategically - how can we tap into their knowledge and knowhow for a short space of time? How can we use it to think a bit differently about it?" Case Study: Anglo American The company, which employs 200,000 people around the world, uses interims for short- and medium-term capability, to backfill temporarily and for discrete projects: "Basically, it is for whenever we need instantaneous brains on projects that have a clear start and stop and for which we don't have the internal resources," explains Bishop. He highlights two examples of successful interim-managed projects - the relocation of a business from South Africa to Brazil and the integration of a graduate programme. "When looking at how workforce planning for the next four or five years has had an impact on graduate numbers, we realised we had multiple entry points and ought to take stock - and needed an outsider to fly around the world talking to everyone," he says. Bishop approached a specialist interim provider and met two possible interims. "The one we went for joined immediately, spent three months on the work and delivered a really good project, one that we still use now," he says. Bishop says the key is being clear about what it is you want - and being prepared to pay for experience. He is blunt about the consequences of not doing this: "If you don't, if you see it as some sort of cost-saving exercise, you won't get what you need." From the interim horse's mouth "There is never an interim situation that isn't difficult," he says. "It is why our rates are high. I have to grasp the financial position quickly and get the confidence of the owner or board or directors - they have to believe I can help them. And the SMEs I work in have often been built up by entrepreneurs from scratch, so they're not ordinary people." His recommendations for clients approaching interim hires are equally valid for HR directors - know what you want and get the right person. However, he highlights the importance of getting references. "These should be from people who they have done interim work for," he says. "Don't base it on full-time references - interim management is a totally different thing. "Make sure they are true interims, not just someone who has been made redundant and is looking for a full-time opportunity. Don't advertise for an interim yourself. Go to specialist agencies. You have to pay the extra, but if you get the wrong person it costs you a lot more." |
Edge Online, Friday 28 October 2011 |
Getting an interim up to speed on your organisation is the first job for employers |
People Management |
Increase in older managers choosing interim roles as second career |
Talk Business |
Guest blogger: Diane Morris, director of Interimwomen
What was striking about the research findings was the discovery that the average female interim manager had an impressive 22 years’ business experience under her belt before starting her Interim career. There is evidently a pool of seasoned and experienced executives out there, who can provide businesses with specialist skills and fill in senior level gaps, undertake strategic business projects, or help them solve their toughest business challenges. |
Grapevine Magazine, Friday 9 September 2011 |
People Management, Wednesday 31 August 2011 |
| Increase in older managers choosing interim roles as second career
The number of people becoming interim managers as a second career after retirement is expected to rise following the end of default retirement age, a specialist provider has said. Interim manager recruitment firm, Russam GMS, has already noticed a rise in the number of people in their mid to late fifties who are turning to the role as a second or third career. The firm’s latest six-month snapshot market survey of 12,000 interim managers showed that more than half were in their fifties. People in this age group also attract the highest daily pay rate, £628, compared with younger managers. From 1 October, employers will no longer be able to force people to retire when they reach 65, meaning the growth of older workers considering interims posts could increase further. “Many senior executives who have retired from their first careers, or who have been made redundant, are coming into interim management,” said Charles Russam, chairman of the recruitment firm. “Age prejudice doesn’t exist in this area because it is a meritocracy where experience and knowledge are valued highly, and the best candidate will always get the job. Maturity is also important because it tends to stop silly mistakes being made.” But he warned that such posts were “not for the faint-hearted” and better suited to people who relished the challenge of running a small business. However, many that considered this as a second career chose it because it offered them flexibility. Paul Simmons, a former regional director at Barclays Bank, has recently made the move into interim management after retiring in 2009 at the age of 54. He combines his interim work in banking with being a business mentor and a trustee of a local charity. Simmons said: "When I retired from my position at Barclays, I still wanted to be involved in business life and to make use of the skills and knowledge I had developed over the years.” He said that while he has three posts, he is in control of his time and limits work to two-and-a-half days a week. Russam said: “Many older interims still want to work intensively on assignments, but also want downtime to pursue other interests – they are looking for a different way of working and a better balance. Interim management offers new challenges, good pay, greater flexibility and, for many people, a new lease of life.” |
Grapevine Online, Monday 8 August 2011 |
| The Recruitment Consultant Industry Awards 2011 has awarded the UK's longest established interim management provider. The Best Interim Provider award went to Russam GMS for its many initiatives, such as Interim Women and Trustees Unlimited. Competition included Green Park Interim and VMA. Charles Russam, Chairman, Russam GMS, says: "We are delighted to win Best Interim Provider 2011 at the Recruitment Consultant awards. It is a great testament to the hard work of all the team at Russam GMS. "Our initiatives, such as Interim Women, Trustees Unlimited, Russam Business Mentors and our Associates Programme are all designed to provide Interims with the support they need to be the best in the business and get ahead in these challenging market conditions. We are delighted to be recognised for this by the industry." |
Ian Joseph, Guardian Professional, Wednesday 3 August 2011 |
| According to the latest reports, many UK charities are under intense financial pressure caused by government spending cuts, the reduced availability of government grants, falling donation numbers and the need to deliver a greater number of services with reduced budgets. The annual charity market monitor, a survey of the top 500 charities from CaritasData published last week, revealed that charities' income levels fell in 2009 and 2010, following four years of consistent growth. Additionally, NCVO's recently published charity forecast, which is a snapshot of the views of UK charity leaders, found that the majority of leaders said their financial situation had got worse last year, with many of them suggesting it would deteriorate further over the next year. Interestingly, however, they still expect to maintain or increase the level of services they provide over the next quarter, in spite of the fact that budgets have decreased. Many organisations are responding to these financial problems proactively and are working hard to generate additional income streams. Our not-for-profit interim management recruitment practice continues to be in constant demand; buoyed by an increase in demand for interims with strong commercial experience. Our latest bi-annual snapshot market survey showed that interim activity in the not-for-profit/charity sector has remained stable for the past year. Pay rates were also stable, with interims commanding from £420 to £430 a day for assignments. Over the past six months, the majority of assignments have focused on helping charities improve their financial situations. Interim managers are a popular choice for charities because they tend to have the commercial knowledge and experience that is often missing at a senior level in charities. Often interim managers can introduce smarter ways of working, and bring an independent and fresh perspective to an organisation, as well as innovative approaches to problem solving. Affordability is another key factor - interim managers charge a daily rate which means they can be very cost effective hire even for smaller charities, and this enables them to recruit these senior executives to run specific strategic projects. Over the past 12 months, we have seen a number of charities recruiting interim managers to deliver high level strategic projects. These have included the implementation of new business processes, the delivery of short, medium and long term financial and business strategies, the introduction of new IT systems and the management of major organisational restructuring projects. We have also continued to see interim managers' contracts being extended, which has reflected their added value. A good example of this is a recent assignment with UK mental health charity, Mind. Interim finance director Kris Murali was deployed into Mind on a three day a week project for three months. Kris was tasked with managing two urgent business projects - the implementation of a new IT system and heading up an office move and bringing together employees from Mind's two head office buildings into a new office in order to improve working relationships, collaboration and information sharing. Kris delivered both projects in time and on budget, engaging with employees at all levels to secure project backing. However, it soon became clear to the management team at Mind that Kris could add value in other areas. He became involved in the board level meetings of Mind's trading arm and in time, he created a clear direction for the governance of the board of Mind's trading arm and also helped in the recruitment of a managing director to run the trading arm. This is a typical interim assignment and many interims like Kris also ensure they leave a lasting legacy which often involves training internal employees so they can continue their good work. The next year is undoubtedly going to be seriously challenging for the sector. Charities are going to need to become more entrepreneurial and commercial to survive. Many will undertake collaborative partnerships to reduce costs and generate additional revenue and for these kinds of projects, hiring an experienced interim manager could pay long term dividends. Ian Joseph is director of charities and not-for-profit practice at Russam GMS |
AccountingWeb, Friday 29 July 2011 |
| The interim management market has returned to growth with a 10% increase in pay buoyed by an upswing in financial services activity. This has also been reflected on the AccountingWEB jobs board where salaries for interim positions have increased along with a 10-15% surge in available positions. Coming as a welcome sign of economic recovery, AccountingWEB also recently found that senior positions offering salaries of more than £50,000 has increased with demand growing for high-level finance talent. Both of these factors add weight to the argument that there's a growing talent gap in senior finance vacancies. According to a Russam GMS survey of 12,000 interim managers from the first half of the year, activity rose by 1.2% - a reversal of fortune compared with the 8% drop recorded in the six months to December 2010. Growth sectors include banking, finance and insurance, where the survey shows an 8% increase in activity and this same rise is mirrored in engineering and manufacturing. Charles Russam, chairman of Russam GMS said: “There are grounds for optimism in interim management. A greater number of assignments are emerging in financial services and manufacturing and there is a rise in the number of assignments coming through interim providers. This is a good sign of recovery because in the midst of a recession, clients are reluctant to spend money on recruitment to find candidates.” The research highlights that interim managers in their 40s are winning most of the jobs, with 58% of them on assignment compared with 47% of interims in their 50s, 42% in their 20s and 30s and 35% in their 60s. Interim managers in their 50s are at the core of the market comprising 51% of the market. Their average daily rate is £628, marginally the highest of all age groups. Interim managers working in finance saw their pay rise from £609 a day in December last year to £675 in June 2011, while pay rates were highest for interims in banking at £694 a day. Original article here |
EngineerLive, Friday 29 July 2011 |
| Pay rates for engineers working as Interim Manager’s daily rates rose by 9 per cent in the period from June - December 2008, according to the latest Snapshot market survey of 9000 Interim Managers from Interim Provider, Russam GMS. Daily rates rose from £417 in June to £518 in December. But, Russam GMS cautions that this could be because daily rates are agreed at the start of Interim assignments and the market slowdown has not yet impacted daily rates. The survey shows also an 11 per cent drop in the volume of Interim Management work - the first slowdown recorded since the Russam GMS Snapshot Surveys started in 2000. Interims specialising in IT commanded the highest daily rates – an average of £697 a day, closely followed by general managers on £669, with Interims working in HR and purchasing and distribution being paid on average £597 per day. Unsurprisingly, Interims working in the financial sector have seen their daily rate drop by 4 per cent from £607 in June 2008 to £583 in December. However, for the first time ever, Interim Managers working overseas are earning considerably more than their UK counterparts – an average of £707 a day, though this is a fairly small sample. Commenting on the findings, Charles Russam founder and Chairman of Russam GMS, says: “This is the third recession that Russam GMS has lived through. The slowdown in the number of assignments is probably an accurate reflection of the market right now and, unfortunately, no surprise. It is however, encouraging that there remains a strong demand for Interims in many sectors including central and local government, the NHS, education and in the not for profit sectors in particular.” Interims in their 20s and 30s appear to be losing assignments to Interims in their 40s and 50s. 65% of them were on assignment in June 2008 but this had fallen to 48 per cent by December. Interims in their 60s also saw a drop in the number of assignments they handled with 46 per cent working in June and just 37 per cent on assignment in December. However, over half – 52 per cent - of all Interims in their forties were on assignment at 31st December. Russam believes this has nothing to do with ageism. He says: “When times are good and demand increases the engagement net spreads wider and when the market contracts, it’s all to do with competition and perceived merit. Our advice to all Interims is to keep skills up to date, stay sharp, restless and look the part at all times - there is no reason why older Interims should not play the same game.” Interestingly, there was also a shift in the way Interims saw their careers. There was a 4 per cent rise in the number of Interims willing to consider a return to permanent work in search of greater job security. There was also a 2 per cent rise in the number of Interims willing to move between Interim and permanent work. But, there was still only about 15 per cent who were actively looking for a permanent job or hoping their interim assignment would turn permanent. Russam says, “With fewer assignments, there will be tougher competition for jobs in 2009 and it is inevitable that daily rates will be squeezed but “a fair rate for a good job” has always been our creed and our advice to all Interims has been NOT to work for less than a fair rate. Given the uncertain outlook, it is unsurprising that a greater number of Interims stated they would consider moving to permanent jobs for greater job security – presumable taking the view that there is greater security in permanent employment and that they will be able to find the jobs.” Another trend was the drop in the number of assignments being sourced through Providers. Russam comments, “Providers like us need to develop excellent client relationships, because with more Interims on the market, they will relied on less to find Interim talent. We also believe there will be new opportunities emerging out of the recession. While we cannot predict how the market will turn out this year, we know that projects still need to continue. Our experience has shown that businesses will see Interim Managers as a highly flexible, cost effective resource particularly when if they don’t have the budget for permanent hires.” Charles Russam also believes that this recession, as none before, will highlight the fundamental differences between stereotypical employees and the best Interim Managers. He concludes: “Employees often talk about rights, legal obligations, stress, work-life balance and are rarely quick to relate their pay to the actual value to their organisation. The best Interims don’t talk much about these issues; their thoughts are about competing, winning, delivering results, providing value for money and proving their worth. This is why, in the serious challenges that now lie ahead of us all, the best Interim Managers are going to be glad that they are Interims. And so are their clients.” |
The Western Mail, Thursday 28 July 2011 |
| THERE has been in upturn in the number of businesses employing interim managers, according to a new sector survey. A survey of 12,000 interim managers from Russam GMS found that from January to June, activity rose by 1.2% - a reversal of fortune compared with the 8% drop recorded in the six months to December 2010. Growth sectors include banking, finance and insurance, where the survey showed an 8% increase in activity. That rise was mirrored in engineering and manufacturing. However, activity in the not-for-profit charity sector and in central and local government remained static. Interim activity in healthcare showed a significant drop - with figures provisionally pointing to something of the order of 30%. Charles Russam, chairman of Russam GMS, said: "There are grounds for optimism in interim management. A greater number of assignments are emerging in financial services and manufacturing and there is a rise in the number of assignments coming through interim providers. "This is a good sign of recovery because, in the midst of a recession, clients are reluctant to spend money on recruitment to find candidates. "The number of interims on assignment in the public sector is unchanged as the bulk of the downsizing took place last year, although permanent headcount reductions have some way to go. The number of assignments out there is quite low and the report shows this is unchanged." The research highlights that interim managers in their 40s are winning the lion's share of jobs, with 58% of them on assignment compared with 47% of interims in their 50s, 42% in their 20s and 30s and 35% in their 60s. In spite of the growth in activity, the average daily pay for interim managers fell slightly, from £613 to £607. This was largely due to lower paid interims, including recently redundant executives, coming into the market and bringing down the average rates. Interim managers working part time fared worst in the past six months, experiencing on average a 7% drop in their daily rate from £601 to £527. However, the gender pay gap in interim management is narrowing. Last month the average daily rate for women was £567 compared with £613 for men - a difference of 8%. In December last year, the gender pay gap was higher at 11%. "Obviously we are pleased to see the gender pay gap in interim management narrowing, however, there shouldn't be one at all," Mr Russam said. |
HR Director, Wednesday 27 July 2011 |
| It seems that businesses are hiring Interim once again and sectors such as financial services, engineering and manufacturing are particularly buoyant, which is reflected in the figures which show an eight percent rise in activity. The latest six month Interim Management market snap shot from Russam GMS made interesting reading. The good news was that the research showed a return to growth for the Interim Market following a drop in activity in the later part of last year. This return to growth is supported too by a market analysis from the Institute of Interim Management last week which also showed a rise in activity levels in the market. Interestingly, Interim activity remained static in both central and local government. Whilst there are is still a low level of assignments in the public sector, it might be that things aren't getting worse and it could mean that the majority of the cuts were made last year, when this same survey recorded a large fall in public sector Interim activity. The report also states the gender pay gap in Interim Management is narrowing. In June 2011, the average daily rate for women was £567 compared with £613 for men which is a difference of eight percent. In December last year, the gender pay gap stood at 11 percent. However, this is hardly cause for celebration as men and women in Interim tend to be paid exactly the same daily rate for an assignment. In essence, there shouldn't be a gap at all. Charles Russam, Chairman of Russam GMS said that a possible reason for that a proportionately greater number of women than men on our database work in the not for profit sector rather than, say, Financial Services and in disciplines such as HR, where pay can be lower than areas such as general management. I hope he is right as Interim Management is one area where equality in pay should not be an issue. We will be watching these figures closely and let's hope the gap narrows further in the next sixth months. |
HR Review, Thursday 30 June 2011 |
| Russam GMS won the Best Interim Provider award at The Recruitment Consultant Industry awards 2011. This award follows the company’s winning of Best Interim Recruitment Provider at the Recruiter awards last year. Russam GMS, the UK’s longest established interim management provider, won the award as a result of its many initiatives such as Interim Women and Trustees Unlimited; strong business growth, commitment to quality search processes, and its genuine understanding of the interim management sector. To win, Russam GMS fended off tough competition from Green Park Interim and VMA. Charles Russam, Chairman of Russam GMS, said: “We are delighted to win Best Interim Provider 2011 at the Recruitment Consultant awards. It is a great testament to the hard work of all the team at Russam GMS. Our initiatives, such as Interim Women, Trustees Unlimited, Russam Business Mentors and our Associates Programme are all designed to provide Interims with the support they need to be the best in the business and get ahead in these challenging market conditions. We are delighted to be recognised for this by the industry.” |
Recruiter, Wednesday 1 June 2011 |
| James Bennett Managing director for EMEA and APAC, eFinancialCareers.com Regulatory pressures in banking and financial institutions are leading to high demand for compliance skills
Recruitment among banks and financial institutions has got off to a good start this year, driven by selective expansion in various regions around the world and higher than expected employee turnover. Recruitment agencies are also expressing confidence in the financial services sector, so 2011 looks to be a year of opportunity. So far we are seeing a continuation of the trends from last year - moderate economic growth, a slow, steady improvement in the labour market, skills shortages in certain professional segments and increasing employee turnover. All of which should lead to more recruitment activity. Asia-Pacific continues to be one of our strongest growing regions, with jobs posted on eFinancialCareers' Asia-Pacific websites up 42% year-on-year to April 2011. Closer to home, job opportunities for those working in equities in the UK surged by 41% over the last quarter, according to our most recent Jobs Barometer for the UK, with strong demand also for private equity/venture capital professionals - up nearly 40% over the previous quarter. Front riders in the chasing pack - in terms of increased numbers of jobs advertised in the quarter when compared to the previous quarter - were positions in debt/fixed income (up 30%), consultancy (up 29%) and compliance (up 26%). Of the 23 UK financial market sectors tracked by our Barometer, only one (commodities) has seen a decline in the quarter, down 18%. Year-on- year, though, commodities positions advertised have increased by a third. We have been encouraged by the strong rise in recruitment activity over the first quarter, which followed a November-December period where the seasonal slowdown normally experienced in the sector was significantly less pronounced this year. The January rise has been driven by a combination of those firms that are rapidly re-building teams as revenue levels grow and those that are still re-structuring. The pressure of greater regulatory requirements is additionally leading to the expansion of back office positions. It is good to see that professional services firms are also now stepping up their hiring activity suggesting that the City's recovery is touching the wider professional community. Suggestions that some financial institutions are considering leaving the City due to increased regulatory requirements look to be overstated. A recent study by HYPERLINK "javascript:void(0);" \o "BNP Paribas" BNP Paribas indicated that more than 11,000 new banking and financial services roles are going to be created in London over the next three years. Fifty-five per cent of the firms surveyed claimed they will be increasing headcount in the next three years, and the majority of these jobs would be in the front office. Interestingly, 70% of those firms which said they intended to grow are headquartered overseas. Retention of key employees appears to be the primary focus for financial institutions in 2011. This issue is always exacerbated in the earlier part of the year as a result of any fall-out from the January- February bonus pay-round. To elaborate, those that end up receiving lower bonuses than hoped for are inevitably more open to investigating new horizons, and those wanting to move on anyway often wait until their bonus is paid before making the jump. To address the retention risk, many institutions are focusing on providing employees with an overall attractive work package including opportunities for promotion, secondment and career development, as well as a better work-life balance. This year the spotlight will also fall on the impact that European regulation reform will have on the City. With a lack of consensus across regulators and with the fundamentals around risk still of great concern, financial institutions will need specialist people on board to effectively overcome these challenges. A recent study by interim management provider Russam GMS found that 20% believed regulatory compliance would see significant activity. Slightly fewer (15%) believed risk management and insurance would remain buoyant. As a result, there will be pockets of intense hiring for middle-office roles. Anti-money laundering positions for people with a legal background are proving plentiful. Demand for regulatory capital expertise has also suddenly taken off, and the continuing stream of new risk and control regulations means that operational risk candidates are also highly sought after. The Independent Commission on Banking's Interim Report on UK banking regulations in April may also have some influence on hiring trends as 2011 progresses. Were retail banking to be ringfenced from investment banking, the complexity of such an undertaking is likely to mean increased project management and consultancy hiring, as well as in IT. Even without such a move, change and transformation staff will remain in strong demand this year, to help drive efficiency in middle and back office processes and functions. Banks are additionally looking to find efficiencies globally, and need people who understand global operating platforms and the challenges of integration. Early signs are that the pace of financial sector recruitment this year will very much be dictated by a broad mix of factors - restructuring, regulation and turnover - in addition to revenues and growth areas. Powerpoints: * Asia continues to be one of eFinancialCareers' fastest-growing regions, with job listings up 42% year-on-year to April 2011. * In the UK, retention will be employers' priority number one in financial services, now that bankers' bonus rounds are over. * Increased recruitment activity experienced over the first quarter of 2011. * Strong demand for equities and private equity/venture capital professionals - with jobs advertised for both up around 40% on the previous quarter. * Of the 23 financial market sectors tracked by the eFinancialCareers' UK Quarterly Jobs Barometer, only one is down on the previous quarter: Commodities. But year-on-year, these positions have increased by a third. * Change and transformation staff are highly sought after to deliver middle and back office efficiencies. * Expect to see a renewed focus on regulatory compliance activity: specialist candidates will still be needed to manage financial institutions' exposure to risk. Centaur Communications Limited |
Thursday 26 May 2011 |
POSITIVE RESULTS RELEASED FROM THE INTERIM MANAGEMENT QUARTERLY BAROMETERThe number of businesses hiring Interim Managers has increased this year, according to the Interim Management Association's (IMA) Ipsos MORI industry benchmark survey for Q1 2011. Following a year of slow economic recovery, there has been a growth in demand this year for Interims to undertake specialist projects, financial assignments and help with critical business expansion projects. The report highlights a 29% increase in the number of Interims undertaking special projects, a 20% rise in financial assignments and Programme/Project Management assignments rising by almost a third (32%). The total number of new assignments started in this quarter increased by 13%, compared to the previous quarter and is the highest level recorded since Q2 of 2010. Jason Atkinson, Chair of the Interim Management Association (IMA) explains; "Given the choppy and uncertain economic conditions, this renewed demand for Interim Managers is positive. Interims with vital niche skills in project management and financial expertise who are able to lead companies through tough challenges and deliver new growth are evidently most attractive to businesses right now. For many companies, Interim Managers are "just what the doctor ordered" in terms of helping UK businesses grow both domestically and internationally in difficult times." Unsurprisingly, the research showed that the private sector overtook the Public Sector in terms of Interim Management usage during 2010, whereas in previous years the use of Interim Managers in both sectors has been roughly equal. Whilst overall the Public Sector figures have dropped, there was a surprise rise in the number of Interim assignments in Local Government, with figures jumping from 26% this time last year, to 44% this year. Jason comments, "In spite of the fall in demand in the Public Sector, Local Government is still a growth area for Interim Managers. Currently, local councils are under huge pressure to deliver unprecedented levels of change and efficiency savings. Interims are being used to lead change management and transformation projects, implement shared services programmes and they are working at the highest levels in local councils to help them achieve their efficiency goals." "Overall the figures from Q1 are relatively positive, however, the global market picture is much wider, and we are seeing a very interesting trend in the surge in demand specifically for British Interims in the Global market. As such, our next survey will provide data on demand from abroad which should provide valuable insight," concludes Jason. |
CharitiesDirect.com, Monday 23 May 2011 |
| However, the theme of his talk at the annual Russam GMS Civil Society evening on 17 May was that the new-look regulator would look differently at the stones once lifted. The charity sector is a small world and guests at the event were reminded of this when former Red Cross director general Mike Whitlam introduced his successor in that role as the guest speaker – Sam Younger from the Charity Commission. The pair, of course, went back a bit further. While still at the Red Cross, Whitlam was busy trying to get the British hostage, Ian Richter out of Abu Ghraib after the Gulf War in 1991 and Younger was running the BBC World Service which kept Richter going throughout some of his darkest times. His perspective on the sector and the Commission's role within it (Whitlam calls for a 'friendly' regulator, but Younger pointed out the sector needs the regulator to regulate – whatever that takes) is set out in detail in our May 2011 of Caritas, which can be read in full here. His talk built on some of those themes and provided some new insights. Keeping positive Sam Younger cautioned against the sector becoming too 'woeful'. "Yes of course things are tough, and in our consultations funding concerns came up at top of the list", he said. He adds: "But behind that was also the worry about the danger of the growing gap between the needs and expectations of what the charity sector will do on the one hand and the resources available to deliver on the other. But of course if you are going to be affected in any area you have got to look at things in terms of what you can do rather than what you can't do." He reminded guests that the sector is more powerful in its voice now than it has ever been before and must not see itself as a victim. All sectors have had to deal with cuts. Core focus As for the Commission's own funding cuts of around one-third, Younger confirmed that he had been looking at what the regulator must do and where it can make the most difference, for example, dealing with annual accounts returns, permissions and consents and investigations of problems. "The root of what the Commission is about is to protect public confidence and, going forward, focus on the things only we can do." He then explained there were two themes to this: • Self reliance. Helping the sector to become more self-reliant is critical and this means giving it excellent and user-friendly tools and guidance. It also means moving away from handholding and working with suitable bodies who can do this instead. • Cleverer use of resource. Once resources currently dedicated to non-core functions have been freed-up, the Commission will be able to work with the sector more proactively and prevent problems before they occur. In response to one question about whether there would be any kind of threshold, below which the Commission would not investigate because fewer funds were at risk, Younger said he had 'moved away' from that option. "Any threshold is an invitation for whatever happens underneath and is not satisfactory. We have to find ways of being more selective and cleverer about whether we intervene or not.[1] So we ask ourselves: 'What are the key risks, not just in large organisations because of the quantum, but in small ones because they don't have the capacity to have the kind of governance arrangements the larger ones have got.'" He also explained that there has sometimes been a tendency for an investigation to "take over" and dictate resources rather than a decision being taken early on when it is clear the process has reached as stage where the regulator has done as much as it can. He did admit: "Obviously, there is a danger that there are things that might not get looked at that would have come under scrutiny in less lean times, but it is possible to avoid this if you operate the risk framework sensibly." |
HR Review, Thursday 19 May 2011 |
| Russam GMS, the Interim Management provider, has launched a new specialist mentoring service for SME business owners called RGMS Business Mentors,
RGMS Business Mentors are experienced independent business executives recruited to work closely with SME Managing Directors at director level on a part-time basis. They will act as 'critical friends,' providing strategic business advice, coaching Managing Directors through specific business challenges and they will even undertake CEO-level projects. They are former CEOs, senior managers and captains of industry and are ideally placed to help established SME owners solve business challenges and achieve growth and business success. Charles Russam, Chairman of Russam GMS commented, "In these difficult times many owner-managed organisations need close support from external experienced professionals, outside their management structure. The RGMS Business Mentor service is aimed at established businesses that need independent assistance to deal with business challenges or support on how to take their business to the next level." "The RGMS Business Mentors will have greater technical knowledge and experience than exists in a company. They will be someone the Managing Director can confide in and trust and who they can work with on a continuing part-time basis," he added. |
Realdeals Europe, Thursday 19 May 2011 |
| Alan Horn, the former chief executive of The Interim Management Group is joining Russam GMS, the interim management provider, to develop the company's entrepreneur practice.
Alan Horn, the former chief executive of The Interim Management Group is joining Russam GMS, the interim management provider, to develop the company's entrepreneur practice. Horn has extensive experience in the interim management industry and in private equity and he will focus on expanding Russam Ventures by introducing interim managers to private equity and banks. He will chiefly work on making placements for restructuring and turnaround assignments. Russam believes that demand for interim managers is set to increase as banks and private equity firms continue to work hard to restructure the balance sheets of sound but over-levered portfolio companies. Original article here |
Recruitment International, Thursday 19 May 2011 |
| Alan Horn Former CEO of The Interim Management Group joins Russam GMS to develop Entrepreneur Practice
Alan Horn, former CEO of The Interim Management Group (consisting of Albemarle, Walker-Cox and Armadillo in the UK and Management Angels in Germany) is joining Russam GMS, the award-winning Interim Management Provider, to play a key role in the development of the company's Entrepreneur practice. Alan's extensive CEO level experience in the Interim Management industry and in Private Equity will be used to expand Russam Ventures by introducing Interim Managers to Private Equity, Banks and other stakeholders for Transformation, Restructuring and Turnaround assignments. Alan will place these executives into some of the UK's largest multinational companies to undertake specific projects, as well as teams of experienced Interims into organisations in need of substantial and rapid transformation. Russam GMS Chairman, Charles Russam, says, "We are delighted Alan will be working with us to develop our Entrepreneur business. I have known him for many years as a highly respected and formidable competitor. We share similar values and a commitment to developing long term relationships with clients and candidates." "In the coming months, we anticipate a greater number of private equity, venture capital houses and banks will turn to the Interim Management Provider community to find creative solutions to the growth challenges confronting their portfolio businesses. Alan's experience in the private equity market will prove invaluable as we seek to place more Interims in needy but growing businesses that have significant levels of equity or debt from private equity houses or banks. With his proven business development experience, industry knowledge and contacts, we are confident we will achieve our business goals," he added. Over the past fifteen years, Horn turned Albemarle into the largest Interim Management Provider in the UK. During this time, he jointly established the Interim Management Association with Russam GMS in 1987 and he has also been extensively involved with the REC, primarily in legal and lobbying activities. Alan Horn comments, "Unlike some other providers, Russam GMS offers a broad range of specialist resourcing services for businesses and I am excited about our new working partnership. The company has recently launched some innovative services for clients, including the RGMS Business Mentor, which offers CEOs of £10-£50m companies the opportunity to hire experienced Interims to work with them as 'critical friends, providing strategic business advice, coaching them through specific business challenges and even undertake CEO-level projects." "Delivering serious and sustainable change in a business might often be about quick fixes or conventional turnaround, but offering the progressive CEO this new and much-needed option will, I am certain, prove to be a compelling board level human capital offering in the demanding months ahead." |
Reuters, Wednesday 18 May 2011 |
| *Adds HSBC Private Bank, Barclays Wealth and others
May 18 (Reuters) - The following financial services industry appointments were announced on Wednesday. To inform us of other job changes, email to moves@thomsonreuters.com. Russam GMS The UK-based company, which is a mainstream provider of Interim Managers, said it appointed Alan Horn. He was former CEO of The Interim Management Group (consisting of Albemarle, Walker-Cox and Armadillo in the UK and Management Angels in Germany). Neuberger Berman Group LLC The New York-based asset management firm said it appointed David Eckert as global head of infrastructure. Barclays Wealth The wealth management arm of Barclays appointed five investment representatives in its Philadelphia, Chicago and Atlanta offices. Rosalie Hunter and Bill McCormack will join in Philadelphia, Brian Maddox and Michael Schafer in Chicago and Jonathan Pakula in Atlanta office. HSBC Private Bank The Hong Kong-based lender said it appointed Gregory Dennerlein as senior vice president and senior relationship manager. Hamilton Lane The Hong Kong-based asset management firm relocated Juan Delgado-Moreira, Managing Director for Asia and Europe, to Asia to strengthen the firm's presence and commitment to the region. MF GLOBAL HOLDINGS The brokerage, led by former Goldman Sachs Chief Executive Jon Corzine, has appointed James Kemp as global head of Foreign Exchange, effective immediately. Previously, Kemp was a co-founder and partner at Cogence Capital LLC, a quantitative foreign exchange trading company. CREDIT SUISSE The Swiss bank has named Mumtaz Kazmi as head of its mergers and acquisitions operations in the Middle East and North Africa, a document showed. [ID:nLDE74H0OW] ARTEMIS The fund house said Mark Page and Laurent Millet will be joining them from Liverpool Victoria Asset Management in early September. BLUEFIN CORPORATE CONSULTING The advisory services firm appointed Robert Mitchell as client relationship manager. Mitchell joins from Mercer where he was working as a client service adviser. DELOITTE The business advisory firm named Helen Gripton to its corporate security team. SCHRODERS PLC The investment manager said it strengthened its FUM Multi-Asset business with the appointment of Aymeric Forest. Forest joins from BBVA Wholesale Banking & Asset Management, where he was global head of Global Investment Solutions. (Compiled by Aditi Sharma in Bangalore) Original article here |
The Grapevine Online, Wednesday 18 May 2011 |
| The interim management firm has announced a new appointment to develop the company's Entrepreneur practice. Alan Horn, former CEO of The Interim Management Group, will be taking up the role. Horn has extensive CEO level experience in the interim management industry and in private equity. His new role will involve expanding Russam Ventures by introducing interim managers to private equity, banks and other stakeholders for transformation, restructuring and turnaround assignments. Commenting on the appointment, Charles Russam, Chairman of Russam GMS, says: "We are delighted Alan will be working with us to develop our Entrepreneur business. I have known him for many years as a highly respected and formidable competitor. We share similar values and a commitment to developing long term relationships with clients and candidates." Horn jointly established the Interim Management Association with Russam GMS in 1987 and has also been working alongside the REC, primarily in legal and lobbying activities. Horn adds: "Unlike some other providers, Russam GMS offers a broad range of specialist resourcing services for businesses and I am excited about our new working partnership. "Delivering serious and sustainable change in a business might often be about quick fixes or conventional turnaround, but offering the progressive CEO this new and much-needed option will, I am certain, prove to be a compelling board level human capital offering in the demanding months ahead." |
Governance, Wednesday 4 May 2011 |
| Charities' persistent tendency to fill up their boards with their mates is holding back the sector's progress in producing more diverse boards, says Richard Williams. Women are still under-represented on the boards of top charities, according to new research from Charity Finance. With less than a third (31 per cent) of women on the boards of the top 100 charities, and with more than a quarter of these organisations having less than 25 per cent of women in their boardrooms, charities clearly need to work harder to improve boardroom diversity. While the charity sector is leading the private sector in terms of progressing women onto its boards, men still dominate the top jobs. Only 12 per cent of chairs are women, a surprisingly low figure given that the sector is such a large employer of women. This research really begs the question: why are so few charities failing to prioritise the progression and positive contribution of women? One of the main reasons I believe is linked to the recruitment methods that still exist in many charities today, where trustees are recruited by word-of-mouth recommendations from within existing networks. Such practices are akin to the 'old boys' network' and ultimately limiting in a number of ways. It creates a lack of diversity on boards, limited perspectives around the boardroom table and at worst, skills and talent shortages that could hinder organisational development. In addition to these risks, the failure to progress more women onto boards of charities could have other organisational repercussions. Lord Davies' recent report concluded there was a "clear business case" for increasing the number of women on boards. This follows a report from McKinsey which showed that companies with a higher proportion of women in senior positions were more likely to achieve greater stock-market growth. The recruitment of trustees was a big issue that was raised in the Institute of Philanthropy's study of trustee appointments, The State of UK Charity Boards, which found that around half of trustees are appointed through personal recommendations and just 20 per cent of charities advertised to fill their trustee vacancies. Clearly change is needed, particularly given the fact that almost one in five charities has a board vacancy. The report stated that boards need to work harder on trustee recruitment. I would agree with this view entirely. Organisations need to adapt their recruitment strategies to ensure they are attracting people with the best skills and experience, and this can only happen if they recruit from a diverse gene pool. Skills audits need to be undertaken regularly to evaluate if a board has the right mix of talent and skills that not only reflects the needs of their key stakeholders and beneficiaries, but will best position them to realise their business plans. Charities need to look outside their existing networks to recruit trustees and it doesn't have to be difficult or expensive. There are several free resources, such as social networking sites, which could be used to source talent. Additionally, NCVO's Trusteebank and our part-ownership of Trustees Unlimited is predicated around developing a rich diverse resource of potential trustees to enable charities and social enterprises to access a much wider selection of candidates. NCVO can also help to induct this rich vein of potential trustees and ensure that they are well versed in trustee responsibilities, and the culture and shape of the sector. This kind of training and development will ensure they become active and participative trustees more quickly and bring their skills and attributes to a well functioning, balanced and strategically-aware board. |
Guardian.co.uk, Wednesday 13 April 2011 |
| Most finance directors will have greeted the start of the new financial year in local government with caution and trepidation, knowing there is greater pressure than ever to balance the budgets and save millions of pounds. Last year was all about cuts and this year will be no different. New research from the Local Government Association of local authority finance directors, published on 1 April, highlighted that nine out of 10 councils have already reduced the cost of senior officers, either by cutting numbers or pay and that eight out of 10 have cut middle-management costs. In terms of targets for this year, 58% of local authorities are planning to make greater savings in 2011-12 by cutting central services such as administration, human resources, finance and IT. Around 70% areplanning shared services with a neighbouring local authority. Implementing these cuts won't be easy. A recent report by The Chartered Institute of Public Finance and Accountancy said that half of finance directors were worried about the fact that the complexity of the savings programme meant they might cost more and deliver less than expected. One thing is certain - if local authorities fail to meet their 2011-12 budgets, it will result in more job cuts and pain. To avoid this, management and finance teams embarking on cost reduction exercises will have to examine every part of their organisations to determine where savings can be made. This process will require them to assess the contribution of all employees – including themselves. In this era of austerity there is a reluctance to bring in external consultants, but there is a good financial argument now to support hiring the services of an interim manager. Interim managers can bring to the table skills that do not exist in local government, such as business transformation, change management and strategic finance. This kind of commercial experience can prove invaluable to a local authority finance team under pressure to find millions of pounds worth of saving efficiencies. Contrary to popular belief, interim managers are value for money. They operate through their own limited company and charge a daily rate. There are no national insurance payments, employee tax, holidays or pension payments to be made. An interim manager can be recruited to work part time or on a project by project basis, which can be vital in helping manage costs. I have just completed a two-year role at Northamptonshire county council as assistant chief executive – finance and commercial, where I was tasked with improving the council's financial management and helping to transform its operations. My responsibilities included finance, audit and risk management, as well as asset and commercial management. I managed a revenue budget of £1bn, a pension fund of about £1bn and a capital programme of more than £450m. I was also part of the council's corporate management team tasked with bringing strong financial stewardship and leadership to the organisation and managing key commercial projects. Last year, the team delivered £29m of efficiencies, which has transformed the council's financial position. We saved £20m of efficiencies, whilst managing a £10m pressure arising from increased child and adult social care and, we are on track to make similar savings this year. We also delivered a shared services programme with nearby Cambridgeshire county council and both councils now share key services such as finance, HR, procurement, legal and transactional services. It is estimated that this will save millions of pounds and hopefully improve the quality of public services. I have now moved on from Northamptonshire leaving a council on track to achieving similar results this year and, I hope, a legacy of financially stability. We also managed to invest money in Silverstone to ensure that the UK Grand Prix will remain in its Northamptonshire home. By late summer, councils will need to ensure they are effectively delivering on this year's budget. Northamptonshire, for instance, will need to deliver £73m this year. Even a month's slippage could result in £6m worth of additional savings being needed this year. If organisations find themselves in this situation, it could be symptomatic of them not having an effective delivery team. There is no getting away from the fact that this financial year is going to be incredibly tough for local authorities. I would urge councils to review the external resources they may need now to ensure they achieve their goals this year. Damon Lawrenson is an interim finance director. |
Recruiter, Thursday 31 March 2011 |
| The UK could learn lessons from the US on reducing the burden of employment regulations on business, according to Raj Tulsiani, vice-chair of the Interim Management Association (IMA). The founder and chief executive of Green Park Executive Resourcing told Recruiter that while culturally the UK was not ready for the US's hire and fire culture, the government needs to do more to demystify complex employment legislation so UK businesses can implement growth strategies and boost exports. |
Guardian.co.uk, Ian Joseph, Trustees Unlimited, Monday 14 March 2011 |
| The jury is still out on how David Cameron's vision will affect not for profit companies, says Ian Joseph The voluntary sector must work out how and why David Cameron's 'big society' will affect their work. At the "big society" re-launch earlier this month, David Cameron reaffirmed his commitment and passion for this ideology. However, in the not for profit sector it seems that the jury is still out in terms of what the big society is, how it will work and how it will affect them. What is clear is that boards need to adapt to the changing environment around them. While Cameron has spent months focusing on the idea of volunteering, as well as the importance of community groups and charities getting involved in the delivery of public services, he has also confirmed that local authority spending cuts will result in serious pain for many organisations. I met with a large service provider this week and they told me they are facing up to 18% cuts in their local authority funding. This will result in new contracts for staff with many now working longer hours for the same or less money. The reality of cuts is hitting home – hard. Cameron's intention to open up all public services to private contractors and voluntary organisations will mean opportunities and challenges to the sector in terms of winning work, and I hope that the sector will grow as it proves its ability to deliver. However, with more contracts comes increased accountability to the public for delivery. Furthermore, payment by results will be the modus operandi. Charities consistently rank near the top in terms of public trust but hard-fought reputations run the risk of exposure, as more contracts are awarded and the public demand excellence. The brave new world we are entering, whether willingly or not, means that the old world where boards were assembled in a less than robust way is, or rather, should be completely over. The sector embarked on a professionalisation journey some 20 years ago, but good governance is still very much a work in progress. As the sector docks at the quayside of the "big society" it needs to have boards in the bridge that are fit for purpose or run the risk of damage of titanic proportions. Governance is made all the more complex when the traditional structures of organisations are changing and where we have hybrid organisations, perhaps social businesses spun off from the state. It is vital that boards reflect the interests of the beneficiaries, rather than a particular stakeholder group such as employees or financial backers. One of the fundamental responsibilities of the board is to be the custodian of the organisation's vision, mission and values. As they adapt to the inevitable changes the big society will impose on them, boards needs to ensure they remain true to their purpose. That means that individual board members need to be engaged, attending meetings, reading reports before meetings and contributing. This sounds obvious but it's amazing how many boards are carrying dead weights. I sat in a two and a half hour board meeting recently and a fellow trustee did not say one word the whole time; what was she doing there? But having engaged board members is not enough. Not for profits should be undertaking a skills assessment to pinpoint any skills gaps regularly. My sense is that many boards will need to start recruiting individuals with strong commercial skills. Organisations will need to attract people from both the private and public sectors, and ideally those that have worked at the nexus of all three sectors. They may also need to improve the skills of existing board members and invest in training – particularly in the areas of governance and finance. Organisations will also have to consider if their boards are diverse enough; if they are balanced and truly reflective of the people they serve. This is not about tokenism, but rather about ensuring the board is as possible close to the market it serves. Christian Aid and London-based mental health charity Community Options are two organisations which have recently used Trustees Unlimited's recruitment services to find trustees from diverse backgrounds. Christian Aid recruited Tom Hinton, a finance director of one of Centrica's businesses, because it wanted to strengthen its financial and risk management capabilities. Community Options recruited John Schuster, a marketing communications expert with a financial background, to its board to help raise the organisation's profile and highlight its work in mental health. Both organisations and many like them have wrestled with what they need and then gone out and found them (often with a little help from a professional recruitment firm). This must be the correct way to help our organisations be relevant. One in five charities have at least one vacancy on their boards. Given that there are gaps on boards and gaps in skills, now is the perfect time to grab hold of our boards and fill those vacant positions with top-quality people who can help us all prepare for the journey ahead. Ian Joseph is the director of Trustees Unlimited |
Financial Mail Womens' Forum, Sunday 25th February 2011 |
| Rachel Youngman, chair of Interim Women, says interim management offers a great way to work with a diverse range of clients. She shares her tips for becoming an interim manager. By Rachel Youngman, chair of Interim Women The news that Lord Davies's inquiry into women on boards has recommended that blue-chip companies be given two years to raise sharply the proportion of women on their boards or face the imposition of quotas will be a major step forward towards creating greater board diversity in FTSE companies. The fact that one in four of the UK's 100 biggest listed companies doesn't have any women representatives on their board and just 12 per cent of FTSE 100 company directors are women – a figure which hasn't changed in the last three years – is derisory. These statistics raise serious questions about the ability of FTSE companies to progress senior level women. Are companies failing to cast the net widely enough to recruit female talent or simply not promoting women? Or could it be that women are scratching at the ceiling because boardrooms are not attractive places to work? Another alternative is that women are opting for different, but equally challenging, career options such as interim management, which enables them to operate at a very senior level in business and make boardroom level decisions, see the results of their endeavours and work in a more flexible way, without the office politics. The Interim Management Association (IMA) defines interim managers as 'experienced, hands-on executives and senior managers, who have a proven track record and operate at all levels, from the chairman of the board to the line manager, from programme director to senior project manager'. In addition to this, it is important to stress that interim managers are problem solvers, people who are parachuted into businesses at a very senior level to handle challenges, and fix problems before moving on. And it is the challenging nature of the work that appeals. In a 2010 Interim Women survey of more than 700 women working as interim managers, 60 per cent claimed that interim work was more interesting and challenging than their previous careers. Like FTSE Boards, the interim management industry is still male dominated but it has recently started to attract more women. In 2007, interim provider Russam GMS founded Interim Women to be a support to women working as interim managers and attract a greater number into the industry. At that time, 10 per cent of Russam's database of 11,000 interim managers were women and it wanted this to change. Today, this figure is closer to 14 per cent. Interestingly, Russam GMS claims that around 25 per cent of its assignments are done by women, pointing to the fact that women are more successful at winning assignments than men (which is supported by research from the Interim Management Association published in December). It highlighted that a greater number of women were on assignment than ever before with 39 per cent of assignments in Q3 being completed by women, up 10 percentage points from the previous quarter. So what are the main attractions of Interim management for women? According to the research one of the big attractions is greater flexibility. 66 per cent of women claimed interim management gave them greater flexibility in their working lives and, given these views, it is unsurprising that a third of interims prefer to handle a number of assignments part time. Eight out of ten of these women claimed they have a portfolio career, with two thirds working for 2-3 clients. They also said that this way of working offering greater job diversity, more interesting career challenges and an opportunity to develop their professional skills. But interim management and a portfolio style of working doesn't come without its challenges – it is not for the faint hearted. 72 per cent of interims said that managing the expectations of multiple clients, keeping on top of planning and juggling client commitments were their biggest challenges. Other difficulties encountered included finding the work and managing the logistics of working in different locations. Multi-tasking is the number one skill needed for successful portfolio working according to a third of the interims, closely followed by leadership skills (24 per cent) and planning and organisational skills (22 per cent). Having good client management and people skills were also deemed important. Interim Management is challenging but brings variety. It allows people to work at very senior levels in business and make boardroom level decisions. It suits people who do not espouse office politics, who want flexibility, individuals who are tenacious when it comes to finding work and who are willing to take a risk – giving up any permanent job in the current business climate and leaping into the unknown is risky. Having operated as an interim manager for many years now, I believe the rewards outweigh the risks and having a diverse and interesting career is something to which many people aspire. Top tips for becoming an interim manager Setting up a small business – Get the right financial advice on setting up a limited company and the tax implications of working as an interim manager. There are numerous websites including those of interim management providers like Russam GMS, the Interim Hub, which is a great source of information about how to become an Interim and from organisations like The Professional Contractors Groups. Get your message right – You will need a good CV with clear messages on what skills you will bring to assignments with some good brief examples and facts and figures of where you have made a difference. Make sure you tailor the CV for each assignment. Networking – If you are leaving employment to become an interim make sure you retain as many contacts as possible with former colleagues and clients, go to events where your potential clients will be and join industry networking groups. Marketing – More than 50 per cent of your work will be won directly with clients so networking and marketing are essential. Peer Support – Get as much advice as possible from experienced interims through groups such as InterimWomen.com. You might find yourself competing for assignments but interims are happy to share experiences and offer support to get new interims started – we like healthy competition! Get to know the interim management providers – Do some homework on the providers and see which ones specialise in your sector. Register but don't forget that you need to get to know the consultants so you are on their radar for possible assignments. Join the IMA Institute which runs a programme to give members the opportunity to speak to providers. Do your research – Once you secure an interview make sure you do some thorough research on the prospective client. The most successful interims are those who plan, plan and plan. And finally – Interim management offers a great way to work with a diverse range of clients. But it is not a soft temporary option – it is hard work; assignments are intense and there can be gaps between assignments when you are not earning Interim Women is a business network set up by Russam GMS. |
By Kate Pritchard, Friday 11th February 2011 |
| A ten-point charter advising Business Secretary Vince Cable on how to accelerate the economy and help small businesses. Interim management provider Russam GMS asked 11,000 interim managers what Vince Cable needed to do now to power UK businesses. A panel of judges, which included John Philpott, chief economist at the CIPD and professor Russel Griggs, chair of the CBI's small business council, sifted through the entries to pull together a ten-point charter for Cable. Here it is: 1. The SME sector is going to be a key part in the salvation of the UK economy, but it needs as much help as it can get. SMEs need to get better and continuous advice, particularly around strategy, risk and general management. 2. We need to build our export market and end the reliance on Europe as our main export market as it has its own troubles – except for Germany. 3. The demise of manufacturing in this country is a major problem and the UK needs to provide incentives to manufacturers to improve efficiencies and this doesn't mean making cuts. 4. Government needs to address UK productivity which lags behind US and France and Germany. It needs to get business leaders passionate about addressing productivity for this to improve. 5. Train people in key areas where the UK excels including law, teaching, science, design and engineering, the arts and pharmaceutical manufacturing and develop our service industries. 6. With the demise of RDAs and Business Link there needs to be alternative support organisations for UK SMEs. There needs to be funding for SME advisors and business mentors. 7. Grants for research and development need to be made more readily available to SMEs. 8. We need to prepare young people for business and sow the seeds of entrepreneurialism at school. 9. We need to invest in people in good times and bad – the "cut, cut, cut" mentality is draining energy and creativity from business. 10. Immigration is necessary particularly where there are clear and skills shortage. It should be viewed as this rather than a social inconvenience. Do you agree with these priorities? What would you add? Original article here. |
Smarta Beta, Friday 11th February 2011 |
| Small businesses have been tasked with leading the recovery and delivering the bulk of any economic growth the UK will see this year (no pressure, then). But what should the government be doing to help you in this endeavour? Here are a few suggestions... With the government and the CBI in agreement that entrepreneurs will be the UK economy's saving grace, and chancellor George Osborne getting ready to dust off the trusty red suitcase for his second appearance at the Dispatch Box next month, now seems like an ideal time to tell the government what it could - or should - be doing to support small businesses. The interim management community has done just that. Interim management provider Russam GMS asked its network of 11,000 managers how business secretary Vince Cable could best help small businesses in their efforts to drive the economic recovery, and got a panel of judges including John Philpott, chief economist at the CIPD, and professor Russel Griggs, chair of the CBI's Small Business Council, to judge the responses. The exercise resulted in two prize-winning tips for Vince, and a 10-point charter for the business secretary. The first of the two winners said Cable could best serve small businesses by sending a message of hope and optimism, and lifting the spirits of the UK workforce, adding: "The 'cut, cut, cut' strategy has eroded energy levels, spirit and the creativity needed to drive performance and results". The second winner argued that boosting skills levels would drive economic regeneration, and that the UK should play to its strengths by investing more in training in areas such as science and design: "We should promote, train and invest in those work activities that we are genuinely good at and in which we feel comfortable in performing in industry." According to Charles Russam, the firm's chairman, interim managers "operate at the heart of the UK economy and as serious small business owners", making them ideally placed to offer Cable a few words of wisdom on the support small businesses need to drive economic growth. Here is their charter in full: 1. The SME sector is going to play a key part in the salvation of the UK economy, but it needs as much help as it can get. SMEs need better and continuous advice, particularly around strategy, risk and general management. 2. The UK needs to build on its export markets and end the reliance on Europe. 3. The demise of manufacturing in the UK is a major problem and the UK needs to provide incentives for manufacturers to improve efficiencies - which doesn't mean making cuts. 4. Government needs to address UK productivity, which lags behind the US, France and Germany. The government needs to get business leaders passionate about addressing productivity for this to improve. 5. Train people in key areas where the UK excels such as law, teaching, science, design and engineering, the arts and pharmaceutical manufacturing, and develop our service industries. 6. The demise of RDAs and Business Link has prompted a need for alternative support organisations for UK SMEs. There needs to be funding for SME advisers and business mentors. 7. Grants for research and development need to be made more readily available to SMEs. 8. Prepare young people for business and sow the seeds of entrepreneurialism at school. 9. Invest in people in good times and bad; the 'cut, cut, cut' mentality is sapping energy and creativity from business. 10. Immigration is necessary - particularly where there are clear skills shortages. It should be viewed as such, rather than as a social inconvenience. What would you add to this list? Is there anything else the government could be doing to support entrepreneurs and help get the economy back on its feet? |