21 August 2003 | Colleen Harris
Full-time assignments for interim purchasers are falling as companies seek greater savings, according to a new survey from Russam GMS, a temporary specialist manager recruitment agency.
Even though part-time interim purchasers - those working less than five days a week - are paid a higher daily rate than full-time temporary managers, they are cheaper in the long-run as companies seek better value from their personnel budget.
Charles Russam, chairman of Russam, said: "Part-time work now accounts for about 42 per cent of the market, and that's going up. I think a lot of clients are using that as a way of getting skilled senior people in on a cheaper basis."
The average daily rate for a full-time interim purchaser fell from £439 in December to £420 in June, while part-time equivalents fell from £550 to £530, according to the survey.
"Competition for work is quite fierce and fee rates are getting quite tight now," said Russam. "What we don't know is whether there is less work about. But certainly the activity rate has gone down."
Nigel Corby, director of recruitment agency Global Executives, said: "I see a considerable reduction in the overall activity in our market, which is a pity because interim managers almost always return value between two and three times their cost."
The survey found that IT interim managers were the best paid with an average daily rate of £705 for part-time work and £555 for full-time assignments.
Full-time production and engineering interims earned the least with an average daily rate of £415, and for part-time staff, sales and marketing interims had the lowest rate of £455.