The return of an element of economic optimism has rapidly increased the number of permanent roles that companies need to recruit within their finance teams. Has the last four years reduced finance teams to an unmanageable level? Will this create an interim boom as the market picks up and businesses start to accelerate growth plans and projects?
Capacities of finance teams have certainly been stretched with the headcount reduction and cost saving initiatives that invariably businesses have embarked upon in the last four years. Core reporting roles have reduced in number and not been backfilled as candidates have resigned. This therefore, has left very little extra capacity in teams leaving new projects under resourced and requiring external capacity.
With the average interview process for qualified finance roles taking circa eight weeks, and a greater number of candidates being on a three month or more notice period, means that obtaining extra permanent manpower is a lengthy process. Strong interim assistance is therefore becoming more common than ever. Which coupled with a lower flow of interim candidates in light of VISA restrictions could well lead to a marked increase in rates within the interim market.
With increasing PE activity, system investments and commercial projects, is the UK market about to see interim candidates able to charge premiums for their services potentially limiting companies capacities to react to the improving economic conditions?