The average return on investment (ROI) for interim assignments is £1.68 million, new research has revealed.
An analysis of change management and business transformation assignments, completed by Boyden Interim Management last year, has shown that whilst businesses spent more on interim managers – around £120,00 per assignment – the average return for a typical business transformation assignment was in fact £1.68 million.
Broken down, this means that for every £1 spent on employing an interim manager, businesses could receive £14 back in increased business value.
The research also found that change management and transformation assignments were most popular amongst the manufacturing and financial industries, with financial intermediation generating the most return on investing in interim managers - 15 interim managers in this sector brought in over £5 million each for their client businesses, 13 generated £1.5 million and a further 15 created between £500,000 to £1 million.
Nick Robeson, chairman of the Interim Management Association, said: "We are seeing organisations’ resourcing needs increasingly driven by major change projects. Interim managers provide a flexible and highly effective solution at pace, and this is as true for the public sector as it always was for the private sector. Typically interim managers can add value up to and sometimes exceeding 15 times their cost. Every organisation wants to be successful and we’re seeing interims playing an ever more important and increasing role."