The interim executive phenomenon is booming, and the rewards are great if you can cope with the downsides says Steve Crabb, editor of People Management.

Imagine a world where you could work for, say, six months, save up some cash and go travelling for a few months, before starting another short-term job.

Most people would be lucky to get more than the minimum wage when they returned, and they'd run the risk of being labelled a quitter' if they did it too often.

But an increasing number of people are doing this regularly and getting paid handsomely for it: the interim executives.

These people are super-temps' ­ highly experienced executives who decide to go freelance and take on limited assignments, usually arranged by an agency which vets them and provides support facilities. Bob Mason, the former BT HR director who's now at the sharp end at London Underground, is on an interim posting, for example.

Filling the skills vacuum
There's been an explosion in the interim executive market over the past few years. Companies like Praxis have been handling interim assignments since the late 1980s, but it was a slow burner for most of the 90s.

It isn't hard to see the attraction for employers: interims are usually cheaper than management consultants, and unlike most consultants, they'll actually implement the solution, as well as devising it.

And if you've got a short-term need, you have a lot more flexibility if you get an interim in than you would if you hired a full-time senior executive. Companies have been using interims to fill temporary skill vacuums (implementing change programmes, for example) or to effect a skills transfer.

An interim who knows everything there is to know about supply chain software might be brought in to bring the rest of the management up to speed, for example. Along the way, they'll probably learn something new themselves, so everyone gains.

Marks and Spencer brought in interim executive Claire Cutler last September to overhaul its employment standards ­ basically, the company's rulebook.

When the current revolution at M&S began under Luc Vandevelde, the firm realised it had become utterly dependent on outside consultants for its strategic thinking, and, as a result, it had been lurching from one fad to the next.

Interims like Cutler ­ who had previously worked for Citibank and Glaxo ­ helped M&S to develop its own, in-house strategic capability.

So demand has been increasing, but supply is another matter. Some would-be interims are forced into the market by redundancy, others may be looking to turn an interim posting into a full-time job.

A special report published this month by People Management suggests there may be as few as 700 "experienced, senior" interim executives in the UK ­ people who can be effective from day one and add real value to the client. These people are at a premium, charging up to £2,000 a day, although the average may be closer to £500.

And People Management's web site will shortly feature a new web resource on interims (for employers and for interims themselves).

The market is changing
The market is changing fast, though.

There are now over 250 interim agencies in the UK, and we are now seeing interims in their 30s and 40s, where previously it used to be predominantly senior executives on the verge of retirement.

If this sounds like an attractive career option, you do need to consider the potential downsides.

There can be long gaps between assignments, no job security, possible resentment from the permanent staff you'll be working alongside, and you have to take responsibility for ensuring that you keep your skills and knowledge up to date, or else you'll quickly become stale.

But if you can cope with that, the rewards that come with being an interim can be very good indeed.

{{JOBS & CAREERS }}

Topics