The number of new assignments for interim managers rose by 22% in the third quarter of 2011 compared with the previous three months, according to the Ipsos MORI survey. This is a clear indication that many businesses are still putting a high value on interim management despite the difficult economic climate.

This quarterly snapshot found that the private sector accounted for 65% of all completed assignments in Q3 2011, up from 61% last quarter. This share of private sector assignments completed by IMA members is now at its highest level since Q4 2007.

More than four in ten assignments were in Banking & Finance, by far the top requested industry, which has risen again by 3% since last quarter.

Richard Clifford, Director of Financial Services sector at Campion Willcocks, is confident the demand for interims in Banking and Finance will continue in 2012. “We expect to see strong ongoing demand for interims next year as many of the major banks carry out large change programmes resulting from strategic reviews, M&A activity, increased regulation and cost cutting initiatives,” he said. “We are also receiving demand from a number of new market entrants competing with the large financial institutions.”

37% of public sector assignments in this quarter were in Local Government, this is on a par with Q2. Assignments in the Health sector rose by 2% and account for 27% of completed assignments in this sector.

Project and Programme Management, as always, was the most common reason for an assignment with more than a third (36%) of all interims hired for this function, a 3% increase on Q2. Business Improvement and Change or Transition Management represented 15% and 14% of assignments respectively, with Gap management accounting for 23%.

The number of enquiries in Q3 increased substantially and is at its highest level since Q2 2010. Campion Willcocks continues the trend of receiving the most enquiries out of the 27-member companies.

The survey is encouraging for the interim market, as it shows that businesses value interim managers as a strategic, flexible resource at a time of economic uncertainty.