Youthful energy in interim management: a new era

Interim Managers were often professional seniors who lost their permanent jobs due to external factors and consequently chose to continue their professional life through an independent status. Typical for that time was the CFO who, after the takeover of his employer, saw his job being filled by a colleague appointed by the buyer. And so he continued his career as an independent interim manager.

Interim managers were limited in number and belonged mainly to the +50 age group and male. However, the interim management landscape has changed a lot.

What brought about this change in the interim management landscape?

• Students sample entrepreneurship during their studies, through the creation of mini-enterprises, at an early age.
• Start-ups are sexy and have a great appeal, but not everyone has an appetite for that type of risk. Marketing your own knowledge and expertise as an entrepreneur, is a great alternative.
• The Big4 attract massive numbers of graduates every year. These young people often transfer to operational consulting firms after only 2-3 years. There they discover the high daily rate that their employer charges for their services to successive clients. Thereupon, they decide to market their knowledge and experience themselves.

What is the consequence of this trend?

• The average age of the self-employed interim manager has fallen sharply. At Essensys, we see that is now at 43 years.
• The number of female interim managers is on the rise. More and more women are choosing careers through self-employment. 
• In the project sourcing market (Finance, ICT, Engineering), the share of interim management has increased from 5% in 2000 to 25% today.
• Unlike the classic hierarchical career structure of permanent employees, young interim managers build their career path by stringing together as many areas of expertise as possible, in a multitude of different business environments. This offers a wealth of experience not only to the interim manager but also to the companies where the assignment is accomplished.

What does this mean for the interim management market and Essensys?

The CEO Benelux of a major financial institution sums it up, "The young Dutch interim managers we hire are usually of a higher quality than our own employees." 

For these young professionals, the self-employed status is a catalyst for acceleration in competencies and experience. And, since the Dutch labor market is years ahead of the Belgian one, the tide is therefore not likely to turn any time soon.

This market movement, often perceived as counterintuitive, is becoming a major challenge for a lot of companies.

The rejuvenation of interim managers is what drove us to launch our recent Essensys Professionals initiative. Discover us at www.essensys-professionals.be.

Written by Michel Van Hemele,
Managing Partner @ Essensys