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Demand for interim managers jumps 15 percentage points

The number of companies looking to recruit interim managers rose 15 percentage points in the first quarter of 2014, according to figures by the Interim Management Association (IMA).

The survey also found that enquiries about hiring managers rose by 18 percentage points across the same period, taking it to the second highest level since IMA records began in 2006.

There was also a significant shift in the proportion of interim managers in the public and private sectors. Almost half (44%) of appointments are now in the public sector, up from 30% in the last quarter of 2013.

Within the private sector the majority (45%) of interim managers are in financial services, down 1 percentage point from the previous quarter.

IMA chairman and director at Penna Simon Drake told HR magazine 2014 Q1 saw the fastest upturn in enquiries about interim managers 2008.

"In the financial sector it's mainly driven by regulatory reform," he said. "So you need people who can come in and really hit the ground running. Companies are looking for high performers who have experience of getting results very quickly in the boardroom."

Crown Estate interim head of HR Craig McCoy told HR magazine leaders are now taking interim work more seriously as a career option.

"It's something that's taken off as a career path," he said. "If it suits your lifestyle and the way you work there's no reason it can't be a stable profession. It's a specialist skill and can make you very desirable to employers."