In recent years, many companies have been confronted with particular challenges. The global Corona pandemic is seamlessly followed by a polycrisis, in which various factors - war, inflation, energy crisis and the first consequences of climate change - have to be considered in parallel. For such situations, interim management is often the optimal solution.
Download the Interim Management Report 2023 as PDF
The Interim Management Report 2023 by EO Executives
For more than ten years, EO Executives has conducted a comprehensive survey of several thousand interim managers every two years and published the results in form of the Interim Management Report. The Interim Management Report 2023 offers a fascinating and revealing insight into the world of interim management and also provides valuable information on general economic developments and trends in the current polycrisis.
Based on surveying 2,145 from all over the world, the report offers an informed overview:
- how corporations use interim managers (assignment length, operational area, daily rate, etc.) in order to cope with challenges;
- who works as an interim manager (professional experience, personality traits, etc.) to effectively support corporations; and
- what interim managers do to support corporations, especially in a crisis situation such as the current polycrisis.
The following is a brief summary of the key findings from the Interim Management Report 2023. Additional insights, precise numbers, graphical representations and detailed analyses can be taken directly from the report, which is offered by EO Executives as a free download.
The Assignment of Interim Managers in Companies
The reasons why companies hire interim managers – as shown by the Interim Management Report 2023 – include above all, but not only: change management to lead significant transformation projects, temporarily bridging capability and competence gaps, and crisis management to deal with urgent problems. Interim managers bring value for companies not only through their short-term availability, but also through their leadership skills, tactical approach and strategic capabilities.
Top Industries for Interim Managers: Automotive, IT & Pharma Lead the Way
According to the Interim Management Report 2023, about half of the commissioning companies are larger businesses with more than 250 employees; private companies account for about 85% of interim mandates. In terms of the industries in which interim managers were deployed, a broad field emerges, with Automotive, IT & Digital Technologies, and Pharma & Healthcare taking the top spots.
The Interim Management Report also shows that the assignment duration of interim managers varies greatly, with contracts typically determining a mandate length of six to twelve months. The average international daily rate for interim managers is € 950.19.
The Profile of an Interim Manager
The Interim Management Report 2023 reveals, among other things, that more than a quarter of the interim managers surveyed have been working in this capacity for five to nine years; the average age of an interim manager is 58.2 years. Most interim managers are working in a full-time mandate.
Compared to the 2021 survey, the interim management market has improved noticeably again, with only 22.6% of respondents stating that their work is less in demand than a year ago. According to their own statements, the biggest challenging factor for interim managers on site is resistance to change within the company itself, followed by rapid adaptation to the specific situation and imprecise objectives on the part of company management.
Accessing the Right Interim Executives: The Benefits of Providers
Interestingly, 57.5% of the interim managers surveyed generate most or all of their assignments themselves, while 42.5% prefer to rely on interim management providers such as EO Executives. Only about one in three interim managers consider both options when generating assignments, but often in very unequal proportions. For companies, this means that they either have good and diverse contacts to interim managers themselves in order to quickly select the exact match when needed, or they can quickly and easily gain access to a large number of suitable candidates via a provider, who has already screened the candidates for the specific need.
The Polycrisis from the Interim Managers' Point of View
From the perspective of interim managers, the Corona pandemic has led to lasting changes – especially in the digital sector, as the Interim Management Report 2023 shows. Around three quarters of respondents see the integration of home office into everyday working life as the most important challenge – but accelerated digitization and digital leadership have also become defining issues. Currently, the supply chain seems to be the most pressing issue for many interim managers.
Turning Challenges into Success: Interim Managers' Perspective
However, according to the report, interim managers see these challenges not only as difficulties, but also as opportunities for lasting improvement. The new way of working resulting from digitization, along with technological developments in the area of IT, is the greatest potential gain for companies in recent years in the view of those surveyed.
How to judge the Interim Management Report 2023?
The Interim Management Report 2023 published by EO Executives offers useful insights, based on a comprehensive survey, into the use of interim management in companies, the typical profile of interim managers and their evaluation of the current economic situation.
Navigating Special Situations: Interim Managers' Expertise in Focus
As "problem solvers in special situations", deployed in a wide variety of companies, interim managers possess knowledge and experience necessary to identify economic contexts, opportunities and problem sources. The Interim Management Report provides valuable insights for managers and companies who want to keep an eye on the current developments surrounding the market and the economy.
Download the Interim Management Report 2023 as PDF
Results Matter: Overcoming Obstacles in Interim Manager Selection
The results of the Interim Management Report 2023 show that interim management is experiencing an upswing after the COVID-19 pandemic and is increasingly being used for bridging staffing or skill gaps.
In addition, it is shown that interim management providers continue to gain importance as the interim market gradually splits, making it increasingly confusing for both companies and interim managers. This increasing confusion represents an obstacle to quickly finding not just one but the truly best candidate for the specific issue at hand. Because ultimately, only the results delivered by the interim manager count.
About EO Executives
EO Executives is a global executive search company and interim management provider serving clients from offices in Austria, Belgium & Luxembourg, Denmark, Germany, Netherlands, South Africa and United Kingdom. EO Executives is specialized in placing critical leadership and management positions.
EO's consultants, each of whom is specialized in individual industries, are the interface to more than 215,000 executives worldwide. EO staffs both executives for permanent positions and interim managers for temporary assignments.
Through the use of management diagnostics, EO's consultants ensure that candidates are a lasting fit with the company's culture and deliver the desired results.
EO International GmbH
Phone: +49 221 / 888 216 50