“Talent-on-demand” is often the buzzword among headhunters who offer Interim Management in addition to Executive Search. Valtus and Management Factory have been taking a different approach for 20 years, which enables clients to find good solutions to complex problems quickly and reliably.
The Valtus Triangle
Valtus doesn’t just want to convey talent. We see ourselves as a business partner for overcoming critical challenges, be it M&A processes, post-M&A integrations, restructurings, transformations, or the rapid development and/or separation of business units. We support our customers until the task is completed. Central to Valtus’ self-image is therefore the triangle of Client, Valtus Partner and Interim Manager:
Our values “Care / Share / Dare” encapsulate the form of cooperation we strive for. The Valtus partners are experienced managers themselves and thus generate measurable added value, from the first contact and the precise formulation of the business scope. Steve Rutherford from Valtus UK describes this approach as follows: “Our market offering is somewhat different. Our partners have typically held senior roles in major corporations, our networks have been built through recommendation rather than Linkedin. The support we offer to both client and interim manager on assignment is the benchmark in our industry.”
The Interview
The strong involvement of Valtus partners increases the likelihood of finding the right manager for the specific task. Especially in the UK, clients are sometimes surprised when a Valtus partner also wants to be present at the job interview. On the one hand, they are used to talking to candidates one-to-one, but on the other hand, they sometimes have the feeling that the presence of a Valtus partner could serve to influence the outcome of the interview in an unreasonable way. Olivier Marret from Valtus UK has an interesting point of view on this: “I am absolutely there to influence the outcome; I want to ensure that I have the right interim manager to work with to deliver my client’s requirement. Interim Management isn´t recruitment. It is somthing completely different. It is the fixing of a major problem, more akin to management consultancy. The first meeting between our client, our interim manager, and Valtus, should resemble a consulation and diagnostic with a surgeon rather than a conventional interview.”
The tri-partite interview is therefore not the end of the selection process, it is the starting signal for implementation. During the project, the Valtus partners also regularly compare the progress of the project and the satisfaction of the clients and the managers. They are available as sparring partners, coaches and input providers throughout the entire duration of the project.
The structured selection process
With more than 900 mandates per year and a promised delivery capability of 10 days, excellent processes are needed. Valtus is a provider of premium Executive Interim Management. We therefore only accept the best executives who have successfully completed at least three mandates in our pool. The selection process does not only include interviews with the talent consultants. We also actively seek references and then decide for which types of mandates, industries and positions (CFO, CEO, COO, CIO, CHRO etc.) the respective executive is suitable. Valtus currently has over 15,000 managers in its pool.
If one of our clients has a specific need, our talent consultants quickly identify the most suitable candidates. They clarify availability and interest so that we can propose two to three candidates within three days. This is followed by the round of introductions described above for three as well as another personal appointment. A start is then possible within 10 days.
Many interim managers have been working for us for years, sometimes even decades. Valtus, or in this case Valtus UK, thus knows very well who has which specific qualifications and skills, and who also fits which customer in terms of personality.
Growth in demand and supply
Predictability and planning horizon have drastically decreased in economic life in recent decades. Today, owners, supervisory boards and (holding) boards of directors have to react more and more quickly and with increasingly incomplete information. As a result, there is an increasing demand for experienced managers who can consistently and agilely drive topics forward and who can quickly establish trust and a constructive working atmosphere with middle management and the workforce.
In many cases, the traditional search for top managers via headhunters not only takes far too long, but it is also becoming increasingly difficult. Steve Rutherford describes it this way: “Many of my headhunting pals are very skilled and can get high quality people into processes, but the final big issue they face is the hardest of all – getting the preferred candidate to take the offer. Candidates are dropping out of processes, turning down offers and taking ‘buy backs’ from current employers with increasing regularity, leaving important roles unfilled and clients frustrated.” In addition, more and more senior managers no longer want to work permanently in the line. Many accomplished CEOs, CFOs, COOs and CIOs are opting for a self-determined career as an Executive Interim Manager. 71% of interim managers in the UK are older than 50 years, the average age in 2023 was just under 54 years. 70% of British interim managers are male and 30% are female (cf. IIM Survey 2023).
The use of executive interim managers can be doubly beneficial: Firstly, the manager can actively tackle specific upcoming challenges himself and thus move the company forward quickly. Secondly, the client can take sufficient time to find a long-term candidate for the position.
The UK Market
While the use of interim managers in public administration is the exception in the DACH region, 37% of mandates in the UK are assigned to the public sector. The top two industries are therefore Local Government and Healthcare, followed by Business/Professional Services, Technology/IT and Financial Services. Manufacturing only comes in sixth:
Quelle: IIM Interim Management Survey 2023, © Institute of Interim Management
Among the most important areas of application for interim managers in the UK, it is striking that almost a fifth of the mandates concern business change / transformation and only two percent turnaround / restructuring:
Quelle: IIM Interim Management Survey 2023, © Institute of Interim Management
As a result, more programme and project managers are employed in the UK than traditional C-level positions:
Quelle: IIM Interim Management Survey 2023, © Institute of Interim Management
While 10 years ago the majority of mandates in the UK were awarded directly (company <=> interim manager), in 2023 74% of interim managers already stated that their last assignment was brokered through an interim service provider such as Valtus. Valtus UK focuses exclusively on the private sector and is considered one of the best addresses in the field of Executive Interim Management.
Valtus’ cross-border expertise
Often, a corporate headquarters or a private equity firm needs a manager in another country. This is where the large network of Valtus Alliance with offices in London, Paris, Brussels, Stuttgart, Vienna, Copenhagen, Stockholm, Oslo, Helsinki, Milan, Madrid, Sao Paolo and Singapore comes in. While interim managers within the EU can also work in other countries, this has been de facto impossible for continental European managers in the UK since Brexit. Steve Rutherford describes this foreclosure as follows: „Whereas, in previous times, a business might have ‘exported’ a rising star, a trusted Interim Manager or established consulting partner, this is now virtually impossible. If the individual concerned doesn’t have either a UK or Irish passport, getting a visa quickly enough to fix an urgent problem is generally impossible. As far as our current government would put it, ‘Brexit means Brexit’ and there is little chance of utilising a European national to fix a UK issue. Fortunately, the UK Interim Management market is, in many ways, the most mature of any in the world. European clients are often surprised (and delighted) to find that, for many situations, they will get a strong choice of Interim Managers, and that they also might be able to find talent here that they couldn’t find at home e.g. ESG, Digital, Sales, etc. Interim Management is a preferred career choice for many senior leaders here in the UK, and this has a bearing on the breadth and quality of managers available.
European clients are sometimes confused by UK taxation in the context of interim management. A large proportion of customers in the UK also find it difficult to understand, especially when it comes to HMRC’s ‘infamous’ IR35 statute. This determines the tax rate that an interim manager pays and thus affects the burden on the client. There are thousands of online posts about it describing how terribly complicated it would all be. In fact, it’s quite simple, it’s all about common sense, transparency and filling out a form properly. Of course, we have experience with this, because we regularly support our customers in this.”
Do you need an interim manager for a specific task in the UK or in another country? Contact us!