Research conducted on behalf of the Interim Management Association finds that pay for short term managers within the manufacturing industry has risen by 13 per cent in a year to an average of £845 per day.
The research, conducted in quarter four 2010, finds that director level interim personnel within manufacturing can earn up to £1750 per day.
In addition, the manufacturing industry is increasing its use of temporary mangers. In the first quarter of this year, the industry accounted for 13 per cent of all private sector assignments, compared with nine per cent a year ago. This makes manufacturing the second biggest employer of interim managers after the banking and finance sector.
Recruitment company Interim Partners says it has appointed 26% more interim managers in the manufacturing industry in the last six months than in the previous six months. Tom Legard, head of manufacturing practice at the company, suggests this could be a signal that the industry is putting in measures for high growth projects.
“In some cases, using an interim is crucial to expansion projects,” he says. “For example, we have seen strong demand for interims to put European-standard quality and safety control systems in place where a UK manufacturer is expanding capacity by outsourcing the production of component parts to factories in China and South East Asia. Often that expertise is not available locally.
“Interims also offer a valuable pair of fresh eyes to review and streamline management reporting systems so that companies are in the best possible position to respond quickly to new opportunities in the market.”