5 Interim Management Trends in 2023

In 2023, interim management continued to evolve, marking significant trends despite a slowdown in overall growth. Companies are increasingly using this practice to quickly adapt to an ever-changing economic environment. Here are the top five trends in interim management in 2023.

 

Interim management: definition, role and missions

Interim management consists of temporarily putting in place experienced managers to support companies in phases of change, crisis or growth.

With their experience and know-how, they are able to quickly diagnose problems, propose effective solutions, and implement them within tight deadlines. These experts, called interim managers, take strategic and operational responsibilities to meet specific needs.

Their role often includes restructuring, process optimization, complex project management, or digital transformation. Their intervention allows companies to benefit from an external and impartial view, thus promoting more informed strategic decisions.

Interim managers often act as consultants to provide punctual and specialized expertise. They play a key role in the change management and crisis management.

Interim managers’ assignments may also include temporarily replacing executives or senior executives, improving operational performance, managing succession, or overseeing an M project. These professionals bring significant added value thanks to their ability to manage complex situations and to implement concrete and measurable action plans.

Their effectiveness is based on key management qualities such as their adaptability, their ability to quickly integrate existing teams and to mobilize the necessary resources to achieve the set objectives. They are often called upon to intervene in contexts where responsiveness and flexibility are crucial, which makes them indispensable allies for companies seeking rapid and successful transformation.

 

5 trends in interim management

1. Moderate but Continued Growth

After a spectacular growth of 39% in 2022, the interim management market grew by a more modest 13.5% in 2023. This slowdown reflects a stabilisation of the market after a year of strong demand, particularly linked to the post-health crisis.

→ Companies are always looking for the flexibility offered by interim management to adapt to market fluctuations.

 

2. Predominance of relay management missions

Relay management missions, which account for 51% of assignments in 2023 compared to 47% in 2022, are becoming increasingly popular. These short assignments allow companies to access temporary expertise for immediate needs, providing flexibility and efficiency during critical transitions. They ensure business continuity, fill skills gaps and bring a fresh look at operations, helping to strengthen the competitiveness and resilience of companies.

Faced with the shortage of talent, this solution is popular with many companies. Indeed, the recruitment of specific skills and has become a major challenge. Relay management offers an effective alternative by allowing companies to quickly have qualified managers without the constraints of permanent recruitment. The Specialized firms play an essential role in connecting companies with these interim managers.

 

3. Increase in the average daily rate

The average daily rate reached a record €1,314 excluding tax/day in the last quarter of 2023. This increase is due to inflationary pressures and increased demand for specific skills, highlighting the growing value of Interim managers. The The most sought-after positions are those of top management and C-level, and include HRD, CIO and CFO functions.

 

4. Continuation of missions in the industrial sector

In 2023, the industrial sector continues to dominate the interim management market, representing 49% of missions, a slight increase from 47% in 2022. This trend also reflects the need for industrial companies to remain competitive in the face of rapid market changes and regulatory requirements.

This predominance is explained by the need for industrial companies to manage complex transformations and address strategic challenges such as sustainability. The Interim managers play a crucial role in these processes, providing their expertise to navigate through periods of change. Interim managers are able to carry out restructuring, supply chain improvement and crisis management projects, thus contributing significantly to the success of these transformations.

Other sectors of activity that require interim management include services, which represent 26% of assignments, and distribution, with 8% of assignments. The other sectors of activity account for 17% of the missions.

 

5. Emergence of impact missions

For the first time, impact missions accounted for 4.3% of missions in the second half of 2023. These missions focus on improving performance social, environmental and societal aspects of companies, while strengthening their economic performance and resilience. This trend reflects a growing interest in projects aligned with ESG (Environmental, Social and Governance) criteria. Companies are looking to integrate sustainable practices into their overall strategy, not only to meet stakeholder expectations but also to comply with increasingly stringent regulations.

The term “impact” comes from the expression “Impact Finance“ “, which finances projects with a positive social and environmental impact. The Impact interim managers are working on projects such as reducing carbon footprints, improving working conditions, and developing ethical business practices, reflecting companies’ growing interest in ESG (Environmental, Social and Governance) criteria.

These developments show that interim management remains a strategic lever for companies seeking to adapt quickly to contemporary challenges. Leadership and adaptability qualities are essential for interim managers, allowing them to effectively lead turnaround and transformation projects.

Why choose WAYDEN for your interim management needs?

To find out how interim management can transform your company, contact WAYDEN, an expert in interim management. With our expertise, we’ll help you navigate complex challenges and achieve your strategic goals quickly and efficiently. Take advantage of the experience and Skills of our interim managers to drive change and optimize your performance.

Contact us to find out how WAYDEN can help you with your problems.

Source: France Transition Barometer 2023 (Federation of Interim Management Actors): https://www.francetransition.org/donnees-du-marche/le-barometre-dactivite-france-transition/