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Focus on The Interim Management Market in Europe

Interim management has its roots and current centre of gravity in Europe. Countries like the UK, the Netherlands, and Germany are seeing the most growth, and the industry in France is also booming, with a yearly value of an estimated €285m (IXPA, 2023).

The hazards as well as opportunities of market volatility are not always black and white, as we have seen in the past few years in Europe, marked by the pandemic, geopolitical and economic imbalances. 

Although the success of firms in weathering these storms and undergoing change is dependent on several variables, it is quite clear that seasoned senior interim managers have been invaluable during these times.

So, what are the drivers over in Europe, and what lessons can interim management leaders draw from them? And is there anything that regions like North America learn from? Well, let’s find out:

Status Quo of Interim Management Market in Europe

Most Common Functions

Billed days rose by an average of 7% in 2022, with the biggest recovery occurring in nations severely impacted by the pandemic the year before, according to INIMA. General management (31%), operations (9%), HR (9%), financial services (9%), and sales (7%) were the most prevalent five functional specializations for European interim managers. Most European assignments (91% of them) were in the private sector.

Confidence & Optimism

In line with the findings of an extensive France Transition survey, most transition managers (60%) exude confidence, and rightly so. More and more, forward-thinking companies increasingly rely on their expertise and extensive experience to navigate the post-crisis landscape. 

Changes Induced by the Pandemic

Yet, 70% believe the pandemic has profoundly reshaped corporate governance, with companies aiming to accelerate transformations (72%), reimagine economic models (47%), rationalize costs (47%), and enhance agility (45%).

Higher Demand for Specialization

Specialized digital, logistics, and energy profiles are in high demand. Critical soft skills include agility in decision-making, expertise, leadership, and charisma, outweighing qualities like listening and adaptability.

Shift towards IT Departments

Before the crisis, transition managers were primarily engaged in general management (62%), finance (53%), and human resources (43%). But with the growing importance of cybersecurity, they are now making inroads into IT departments.

SME Adoption & Growth

Plus, interim managers predominantly operate within large entities, with 58% in mid-sized companies (ETIs) and 20% in large corporations (GEs). But still, they are also gaining traction among SMEs (20%), a much higher proportion than in past years.

Bringing the Elite of Interim Management in North America

Every company has its own set of challenges, and here at xNorth, we tailor our solutions accordingly, taking and applying the lessons from Europe.

We are firm believers in the benefits of teamwork, which is why our experts often team up with our Interim Executives to provide optimal results.

If you're looking for a reliable business partner to help you succeed in today's dynamic market, xNorth is open to fruitful partnerships.
 

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