Interim management and Treasurer Search
Finding temporary solutions in corporate treasury is a service we have been providing since we started our company ten years ago. Over the years this service has grown quicker than recruitment for permanent positions. At the start of this month we even placed three interim managers within two days! Time to share with you what we see and do in interim management.
The two most prominent reasons why our client needs an interim manager are “not enough capacity” and “the need for a specific expertise”. With the first category you can think about maternity leaves, rapid growth or the new establishment of a treasury organisation. With the second it can be selection, implementation and/or testing of a TMS, starting a new bank relation or managing specific funding. From this it is clear that interim management covers the gap between regular recruitment and specialized consultancy. Clients choose for one of these solutions based upon cost, flexibility, quality, stability and other reasons.
Recruitment of interim managers is an industry on itself for a number of very important reasons. Regular recruitment agencies often land the assignment and then start identifying and contacting candidates. They take the time interim management clients do not have. Specialized consultancy firms can often deliver quickly, but their high caliber consultants are often too expensive and not motivated to pick up longer term assignments.
The strategy of Treasurer Search is focusing on a relatively small group of corporate treasurers. 90% of the candidates are candidates we are in contact with before landing the assignment we place them in. As a result we can present high quality candidates at a market price and in a short amount of time. In the current group of interim managers working in assignments we found for them, there is a substantial number with whom we cooperated before.
Professionals who choose to work on assignments for a living, are often overqualified and can hit the ground running. They work from their own entity and invoice us (in Dutch, ZZP). Next to this group we find assignments for candidates that are qualified and between permanent jobs or want to do some work before retirement. For this group we can also arrange payrolling solutions. From a contractual perspective we also notice that a number of large corporates involve external service providers to manage relations with interim managers. Reasons mentioned for this are meeting legal requirements/risk management (DBA), cost effectiveness and speed. I personally doubt if these goals are met.
Currently the labour market, especially on the junior and medior side is in favour of employees, Brexit is happening, the economy is flourishing and there are many other reasons why the interim management market should grow and shrink. Many experts have an opinion about this. Personally I do not see substantial moves up or down. The market for interim managers remains volatile and unpredictable.
Can we help you find the right (interim) corporate treasury expert?
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