International Report on current

developments in Interim Management

The Interim Management Report 2023 1

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For the sole purpose of better readability, gender-specific spelling is not used.
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2 The Interim Management Report 2023

Index
1. Interim Management Report 2023 1

1.1. Aims of the study 2

1.2. What is interim management? 2

1.3. Key findings 3

1.4. Core statements 2023 4

2. The Assignment of Interim Management in Companies 7

2.1. Main reasons for the use of interim management 8

2.2. What added value do interim managers create in companies? 9

2.3. Which companies hire interim managers? 11

2.4. In which sectors were interim managers most recently active? 13

2.5. Over what period of time are interim managers assigned? 14

2.6. What are the daily rates for interim managers? 15

3. The Profile of Interim Managers 17

3.1. Experience 18

3.2. Demand 19

3.3. Assignment 20

3.4. Assignment sources 21

3.5. Challenges 22

4. The Polycrisis from the Perspective of Interim Managers 23

5. Survey Methodology and Sample Size 28

6. About EO Executives - Results through people 31

Interim Management
Report 2023
International Report on current
developments in Interim Management

EO Executives has published the Interim Management

Report regularly for over ten years to help managers and
companies keep track of the latest market and economic
developments. The report is based on a survey of several
thousand interim managers worldwide.

In 2023, a total of 2,145 interim managers of all ages,

continents and disciplines took part in the survey. Four
core statements can be extracted from their answers.
They give a good impression of the current trends and
tendencies in interim management - also in relation to the
continuing polycrisis.

01 The Interim Management Report 2023

 1.1.
Aims of the study
This report examines various questions on the
topic of interim management in order to keep
track of current developments in the market.
These questions include:
— What is the typical profile of an interim manager?
— Which companies hire interim managers?
— For what reasons are interim managers hired?
— Which characteristics of interim managers offer
companies the greatest added value?
— How do interim assignments come about, and
what time span do they cover?
— What role do interim providers play in the interim market?
— What are the differences between different
regions in Europe and the world?
— What long-term impact did the global pandemic
have on the use of interim management?
— What challenges and potentials can be identified
in the current polycrisis?
1.2.
What is interim management?
The basis of every successful analysis is a clear
definition of the object of analysis. Before going into
detail on the findings of this year‘s report, it should
be clarified what is meant by interim management.
Interim managers are experienced executives who are temporarily deployed by
companies at management or project level to implement changes, compensate
for absences in senior positions or supplement competencies in the company with
their own skills and experience.
The interim management model is based on the philosophy that every challenge
holds not only difficulties, but also potential that need to be recognised and
utilised. For this to succeed, true leadership competence is needed, but also
situation-specific specialist knowledge and expertise. A successful interim
manager can quickly familiarise themself with new situations, recognise core
aspects, work precisely towards achieving clearly outlined goals and tackle
challenges decisively and holistically.
Interim management must be clearly distinguished from classic management
consultancy (interim management is not merely about theory, but much more
practical implementation), temporary employment (interim management
exclusively concerns managerial positions) as well as the activities of supervisory
boards (interim managers have tasks that go beyond control and steering).
However, the activities of interim managers and temporary project managers are
similar depending on the specific work situation.
The Interim Management Report 2023 02
 1.3.
Key findings
Change Management is still the most important
reason companies hire an interim manager (33%).
This is followed by specialist skills (13%) and crisis
management (11.3%).
Most of the interim managers come from the
Top Board (33.8%), followed by Finance (11.4%)
and Sales / Business Development (9,0%).
03 The Interim Management Report 2023
The average international interim daily rate
is 950.19 EUR, an increase of 7.3% since 2021.
For comparison: In Germany, the daily rate in
2022 was 1,083.12 EUR, taking into account a
7.9% inflation rate.
Almost half (48.7%) of all companies that
hire interim managers have more than
250 employees. 36.3% of interim managers
are working for SMEs.
Companies value interim managers for their
ability to implement strategy and operations,
their extensive experience and their consistent
goal orientation.
Interim managers make a virtue out of necessity:
70.1% emphasise the importance of using crises
as opportunities for sustainable improvements;
69.3% focus on developing new business models
during a crisis.
 1.4.

Core statements 2023

The last few years have been economically turbulent -
first because of the crisis around Covid-19, then
additionally due to the multiple factors of the polycrisis:
war, inflation, energy crisis and the first major conse-
quences of climate change.

Companies have been and continue to be confronted

with comprehensive challenges. Interim management
is a tried and tested concept that enables companies
to react quickly, competently, and in a self-determined
manner to challenging situations. Interim managers
support companies in critical phases, working actively
and specifically towards the desired results.

The following four key statements summarise the most

important findings in this year‘s Interim Management
Report and convey the significant changes that will be
evident in using interim management in 2023.

The Interim Management Report 2023 04

 1. CORE STATEMENT
Interim management is experiencing
an upswing after the Covid-19 pandemic.
Compared to the last Interim Management Report, the managers we
surveyed are significantly more employed in 2023. This is evident not
only from their subjective assessment of their own employment situation
(cf. 3.2.), but also from the data on the usual length of interim mandates
(cf. 2.5.) and the increased number of days the average interim manager
is busy per year (cf. 3.3.).
Further indications of increased demand for interim management are the
increased daily rate level (cf. 2.6.) as well as the fact that this year again
more interim managers stated that they could not imagine doing anything
else, even under ideal conditions (cf. 2.2.). Two years ago, the picture was
different. Although the general conditions of interim mandates (reason for
appointment, length of mandate, daily rate) had hardly changed at that
time despite the pandemic, the data collection showed that overall fewer
interim mandates came about.
Two years ago, we speculated that the similarities between the 2008
financial crisis and the 2020 „coronavirus crisis“ were not merely super-
ficial, but allowed us to predict the future development of the interim
management situation. The 2008 financial crisis caused a short-term
decline in the use of interim managers, but postponed projects and
unresolved problems ensured a very strong demand for interim managers
in the following years. The Covid-19 pandemic is also now providing an
upswing after initially causing a slump in the employment situation of
interim managers in 2021.
05 The Interim Management Report 2023
2. CORE STATEMENT
Interim managers are more often used to fill
in when there are gaps in staffing and skills.
Usually, several reasons play a role in the decision to access interim
management. The main reason in 2023 is still change management,
but less frequently than was the case in 2021.
Reasons for using interim managers that have to do with bridging a
personnel vacancy or temporarily filling a skills gap in the company
are becoming more important (cf. 2.1.). This development is not merely
a correlation with an increase in staff shortages due to the pandemic,
because the increase relates in particular to vacancies before the
successful completion of a recruitment process.
There was a similar development in the aftermath of the 2008 financial
crisis. During the early stages of the crisis, the use of interim management
was avoided by many companies for cost reasons until further delay could
no longer be avoided. For interim managers, this manifested in an initially
reduced and then significantly increased demand - comparable to the
current development.
In a candidate market, finding highly qualified managers is a demanding
and often lengthy process. Needed specialists are not always immediately
available. At the same time, the required specialists skills and personnel
gaps cannot be ignored.
Using an interim manager is perfectly suited to bridge bottlenecks of this
kind quickly and without economic disadvantages.
 3. CORE STATEMENT
Interim management providers
are gaining in importance.
Our survey shows that more interim managers are using interim
management providers to search for assignments. Nevertheless, most
interim mandates are concluded without the involvement of a provider.
According to our survey, the majority of interim managers (63%) acquire
exclusively through one of these channels; only 37% consider both options,
but often in very unequal proportions (cf. 3.4.).
De facto, a split in the interim management market is gradually emerging.
Companies that want to do without a provider must expect to be able
to include only a fraction of the available managers in the search for an
interim executive.
Conversely, providers must adapt to the changed situation and approach
managers outside their own interim pool even more than before in order
to continue to do an excellent job in recruiting qualified interim managers.
The importance of interim management providers as experts for filling
interim positions is increasing. Good providers can achieve approximate
coverage of both interim manager pools through targeted networking
outside their own sphere.
Quality results from quantity, especially in the area of interim
management: a larger pool of interim managers from which to choose
usually means a faster and more suitable appointment.
4. CORE STATEMENT
The current polycrisis is weighing heavily
on many companies, leading to an increased
demand for interim management.
The development of companies is not always proportional to the general
economic situation. Although a general crisis situation in companies was
to be expected against the background of the coronavirus pandemic and
its restrictions, we could not confirm such a situation in the last Interim
Management Report.
However, now that the general economic situation has improved again,
many companies seem to be struggling with major challenges. The
Covid-19 pandemic has been seamlessly followed by a polycrisis, which
poses additional difficulties for companies. One of these challenges,
as our survey clearly shows, is in the area of supply chain (cf. 4.2.). In
addition, many companies currently need managers to bridge the gap
until a suitable permanent manager is found or current employees of the
company have acquired a specific competence (cf. 2.1.).
In the current situation, waiting is not an option for many companies,
which means that interim managers are more heavily utilised on average
(cf. 3.2.). The current very high demand for interim managers can be
seen not only in self-reports and the longer average mandate duration
but also in the fact that the level of the typical daily rate has risen
significantly (cf. 2.6.). Especially in their function of being able to step
in quickly, seamlessly and precisely, interim managers are currently highly
valued by companies.
The Interim Management Report 2023 06
The assignment of
Interim Management
in companies
Interim managers are executives with experience and
expertise who are available at short notice and can be
deployed temporarily and flexibly in companies.

They help through crises and can also build new

business structures or strengthen an existing team.
The work of interim managers goes beyond theory and
includes the practical and goal-oriented implementation
of concrete measures.

The following section deals with aspects of cooperation

between interim managers and companies.

07 The Interim Management Report 2023

 2.1.

32.6 % 13.0 %
Main reasons for the use Change management: Temporary

of interim management
to lead a major improvement/ „skill/competence“
transformation project shortage

In 2023, the main reason for interim

management is change management
11.3 %
in around one-third of cases (32.6%). Crisis management:
to address urgent and
This is in line with the findings from previous years (2019: 34.1%; major issues/turnaround
2021: 33%). In addition, crisis management (11.3%) and compensating for
a temporary lack of skills or competencies (13%) continue to be decisive
factors for many clients. The decisive reasons for interim management
have hardly changed since the last survey.
10.8 % 8.8 %
However, it is noticeable that in 2023 more companies are opting for Bridging time needed to hire Temporary management
interim management to bridge a staff shortage. This concerns cases someone permanently „capacity“ shortage
where there is a lack of skills or competences (13 %), where the selection
process of a new manager is too long (10.8 %) or where a team is to be
supported in a critical phase (8.4 %).
8.4 %
In most cases, the reasons for such bottlenecks are not to be found in Strengthening
the gradually fading Covid-19 pandemic - in fact, the number of interim 9.9 % a project team
managers filling in for a staff shortage due to illness, for example, has
Implementing a major initiative
declined slightly (2021: 4.9 %; 2023: 4.3 %). (product launch, relocation)

Instead, it seems to be a matter of personnel gaps that may have existed 4.3 % 0.8%
Bridging time needed to fill a
before, but can no longer be ignored by companies during the current temporary absence (illness,
polycrisis. Interim management offers the possibility of recruiting secondment)

specialists for demanding tasks quickly. Client was required by its Bank or Tax/Government
authority to engage an interim executive or board

The Interim Management Report 2023 08

 2.2.

What added value do interim managers create in companies?

Interim managers have a wide range of skills and can adapt flexibly and intelligently to the
current situation. Which specific characteristics of the interim managers surveyed were most
important to the commissioning companies?

TOP 3

1. Leadership (24.4 %)
24.4 % Leadership 6.5%

2. Delivery (21.8 %)
20.2 % Delivery / tactical ability to get the job done -7.4%
3. Strategy (18.4 %)
18.4 % Strategy 0.2%

14.8 % Uniting / pulling people together 0.4% According to our survey, what companies value most
in interim managers are their leadership skills (24.4%),
their tactically skilful approach to implementing
11.0 % Project planning 10.6%
agreed objectives (20.2%) and their strategic skills
(18.4%). Thus, the top three qualities mentioned have
10.5 % Council / Insight / Advice -4.7%
remained identical since 2017.

0.7 % -40.9% Other Nevertheless, the answers also reveal change. In

Change in percentage points compared to 2021
2021, the trend emerged that clients increasingly
value qualities that had received little attention in
previous years. This trend continues in 2023 and
suggests that companies are paying more attention
to the full range of services offered by interim
managers.

09 The Interim Management Report 2023

 2.2.

When asked which qualities interim managers themselves consider the most
Which are the most important for their job, the most frequently cited were the ability to implement
strategy (18.8%), a focus on results (16%) and a wealth of experience (14.6%).
important qualities interim
managers should possess?
Interim managers are top executives who Ability to work strategically
but also implement
18.8 % -1.0%

provide concrete help out of conviction and

Results focused 16.0 % -0.1%
with know-how rather than just giving advice.
Wide range of experience 14.5 % 0.7%

33.8 %, and thus the largest share of this year‘s respondents, come from Specific skills/experience
10.4 % 0%
the C-level. The decision to work as an interim manager is usually not chosen for specific job

made for economic reasons, but out of the desire to take on versatile and
Independence 9.4 % 0.9%
exciting tasks. In 2023, more interim managers (36.9 %) than in 2021 said
they could no longer imagine doing any other work (2021: 29.8 %). Ability to quickly get
9.2 % -0.1%
people on side

Which characteristics do these top qualified and motivated managers Not side-tracked by
6.3 % 0.3%
rate as most important for their interim management tasks? The interim company politics
managers surveyed place particular emphasis on practical (18.8%) and
Ability to mentor 5.2 % -0.9%
results-oriented (16%) realisation of the agreed objectives, followed by
general (14.6%) and specific (10.4%) expertise.
Willingness to speak
5.1 % 0.4%
mind where required
Compared to 2021, it can be seen that independence (9.4%; 2021: 8.5%),
courage to express opinions openly (5.1%; 2021: 4.7%), and not being Resilience 4.7 % -0.2%

influenced by company policy (6.3%; 2021: 6%) have gained in importance.

Interim managers seem to perceive themselves more than before in the Other (0,3%) -0.1%

role of an impartial and objective „voice from outside“.

The Interim Management Report 2023 10

 2.3.

Which companies
hire interim managers?

4.1%
Larger corporate
48.7% (> 250 employees)
-2.2%
8.3%
Small to medium
36.3% (> 250 employees)
-3.1%

Public sector
48.7% 8.3% Companies
+0.6%

Charitable
4.1% Companies
+0.5%
36.6%

2.6% Other +0.3%

Almost half of all companies that hire interim managers are larger companies with more
than 250 employees (48.7 %). The majority of the remaining clients are SMEs (36.3 %).
Overall, private companies therefore account for 85 % of the interim management market.

In 2021, SMEs using interim management were still represented at 40.5 %, showing a
slow but steady increase since 2017. The drop to 36.3 % means the share of SMEs is below
the 2017 level. It suggests they are experiencing a particularly bad situation (no financial
resources for interim management) due to the current polycrisis.

The importance that companies in the public sector (8.3%; 2021: 7.9%) and the charitable
sector (4.1%; 2021: 3.7%) have for the interim management market has increased slightly
in 2023.

11 The Interim Management Report 2023

 2.3.

Company size breakdown Larger companies SMEs Pulic Sector

> 250 employees < 250 employees companies

(by countries)
Charitable
companies Other
The type of companies interim managers work
for varies from country to country. In almost
all countries, companies with 250 employees AUT 55.81 % 31.40 %

or more make up the majority of clients - but

there are exceptions, as the data in Italy shows BEL 48.65 % 36.76 %

(large companies: 32.4%; SMEs: 59%).

GER 56.99 % 34.56 %
Public and especially charitable bodies appear more often than
before in most countries in 2023, but they are not typical clients.
Interim management is and remains predominantly a model for
FRA 57.69 % 33.33 %
the private sector.

2021 clearly showed that type of client and daily rate correlate. The
GBR 40.53 % 31.28 %
daily rate tends to be highest in countries where interim managers
are most often used in large companies (average top daily rate in 2023:
Germany with €1083.12).
ITA 32.37 % 58.96 %
In 2023, this picture remains largely the same, but some conflicting
data points can be found - for example, France records an increase in
the share of large companies from 49.4% to 57.7%, while the average NED 61.70 % 28.37 %
daily rate drops from €1028.40 to €993.55. The commissioning
companies seem to be a relevant factor but not the only parameter
for the level of the average daily rate. ZAF 39.29 % 34.29 %

The Interim Management Report 2023 12

 2.4.
Automotive & Vehicle Construct 12.1 %

In which sectors IT, Internet & Communication Technology 9.4 %

Other 7.6 %

were interim managers Pharmaceuticals & Health 7.5 %

most recently active? Energy & Environment 6.7 %

Consumer Goods / FMCG 6.6 %

Automotive is again the most represented Machinery & Plant Engineering 6.0 %

sector in interim management (12.1 %). Finances & Insurances 5.3 %

Electrical & Electronics 4.6 %

Second place goes to the ‚IT‘ sector (9.4 %).
Transport, Traffic & Logistics 4.5 %
The distribution of interim management mandates across
Chemicals & Raw Materials 4.2 %
different sectors generally remains stable.
Professional Services 4.1 %

Interim managers are used as adaptable experts in all subsectors

Building & Architecture 3.3 %
of the economy. Unsurprisingly, the changes in the sector
breakdown of interim management roughly reflect the general Trade & Retail 3.2 %

developments in the market. Since 2021, Living & Furnishing Food & Beverage 3.0 %
(0.7% to 0.4%), Tourism, Leisure & Gastronomy (1.9% to 1.2%), Food
Medical Technology 2.5 %
& Beverage (4.8% to 3%) and Finances & Insurances (6.4% to 5.3%)
have lost the most in our survey in percentage terms. Media, Advertising & Marketing 1.8 %

Real Estate 1.6 %

The largest relative increases in 2023 are in Economy & Politics
(from 0.7% to 0.9%), Consumer Goods/FMCG (from 5.1% to 6.6%), Printing & Packaging 1.4 %
Electrical & Electronics (from 3.7% to 4.6%) and Printing &
Agriculture 1.2 %
Packaging (from 1.1% to 1.4%).
Tourism, Leisure & Gastronomy 1.2 %
The developments fit the general picture in the market, which
Textile & Fashion 1.1 %
is currently characterised by the after-effects of the Covid-19
lockdowns as well as private shortages and austerity measures Economy & Politics 0.9%

due to high inflation.

Living & Furnishing 0.4 %

13 The Interim Management Report 2023

 2.5.

Over what period of time are interim managers assigned?

Long-term and complex crises like the current polycrisis also require long-term and complex
solutions. In the current crisis situation, interim managers are increasingly being used for
longer mandates of nine months or more.

The picture of typical mandate length in interim

2019 2021 2023
management has been surprisingly stable since 2017.

Most interim managers state that their mandates usually last

six to nine (20.3%) or nine to twelve months (22.6%). Only 7.8%

22.8 %

22.6 %
21.8 %

21.5 %
20.8 %
of the interim managers surveyed regularly work on short

20.3 %
19.8 %

19.8 %
19.9 %
mandates of less than three months.

16.6 %
16.1 %

15.6 %
The Covid-19 pandemic led to a slight shift away from medium-

13.8 %
12.9 %
length mandates in our last survey in 2021 and thus to more

11.7 %
variance in mandate length.

9.2 %
8.1 %

7.8 %
This year, the trend is towards longer interim assignments.
In 2021, a total of 48.3% said that a normal mandate lasted
more than nine months; this year it is 53%. This indicates that
the perception is now less of an acute crisis and more of a
long-term problem.
0-3 3-6 6-9 9-12 12-18 18+
months months months months months months

The Interim Management Report 2023 14

 2.6.
2021

The daily rates of interim managers 16.6%

11.4%

11.4 % more

The above-average increase in interim daily rates (+7.3% on an 72.1 % about the same

international average since 2021) reflects general inflation and

16.6 % less
the renewed stronger demand for interim managers. 72.1%

2023
2019

9.1% 21.6%
Daily rates in comparison 16.6%
17.6%
17.6% more
21.6% more +10.2%

2023 71.8% about the same

69.3% about the same -2.8%

10.6% less
71.8%
9.1% less -7.5%
63.3%

2017

Although daily rates also increased slightly on average during the Covid-19 pandemic (2021:
14.0%
+ 1.1 % international average), only 11.4 % of respondents reported having charged higher daily rates 24.0% 14.0% more
in 2021. This proportion has almost doubled in this year‘s survey (21.6 %). At the same time, in 2023
only 9.1 % reported having lowered the level of their daily rates (2021: 16.6 %). 62.0% about the same

With the increase in longer mandates and the self-assessment of many interim managers that 24.0% less
62.0%
their employment situation has improved, the picture is an upswing. Companies seem to have more
(financial) resources available again to develop further and actively pursue change.

15 The Interim Management Report 2023

 2.6.

Average daily rate

2019 2021 2023

AUT 1,065.00 € 896.58 € 1,043.75 €

BEL 870.00 € 873.73 € 950.76 €

GER 1,020.62 € 1,052.02 € 1,083.12 €

FRA 983.16 € 1,028.40 € 993.55 €

GBR 867.46 € 820.35 € 891.72 €

ITA 607.44 € 637.64 € 686.07 €

NED 908.08 € 928.05 € 969.23 €

ZAF 594.52 € 531.18 € 593.88 €

Average daily rate 864.54 € 885.47 € 950.19 €

The average daily rate worldwide is EUR 950.19. This means that the average daily rate has
risen by 7.3% - in 2021, it was EUR 885.47.

The overall significant increase in the daily rate level is also reflected in a comparison of
countries. Although there are sometimes large discrepancies between the usual daily rates
in different countries - for example, the average daily rate in Germany is 1083.12 EUR and in
South Africa 593.88 EUR - a significant increase can be seen in almost all countries.

Nevertheless, it is not a disproportionate increase. For example, according to the Federal

Statistical Office, the inflation rate in Germany was +7.9% in 2022, while the average interim
daily rate in Germany grew by 3% between 2021 and 2023.

The Interim Management Report 2023 16

The profile of
Interim Managers
Interim managers do not come to their job through
specific professional training, but by using their
leadership talent, expertise and many years of profes-
sional experience for companies out of conviction.

In the company, they can - depending on the specific

situation and the wishes of the management - advise
and support the existing management, bridge vacancies
in the team, lead projects or work out solutions to
problems and implement them directly in practice.

The data in the following section provides a picture of

the experience and skills interim managers can bring
to companies, the demand for their services, how often
they are employed and the channels through which they
are commissioned.

17 The Interim Management Report 2023

 3.1.
How many years have you been working as an interim manager?

Experience 2023
<1 9% -2,5%

More than a quarter of our respondents said they had been working as interim 1-2 9% -3,4%
managers for five to nine years (25.4%). At the time of the survey, 18.6% had less
than three years‘ experience as interim managers and 22.5% had been working 3-4 15% -1,8%

in interim management for 15 years or more. This corresponds to the picture that
5-9 25% +2,1%
emerged in previous surveys: interim managers with remarkably little or a lot of
experience are in the minority. 10-14 19% +10.1%

As in previous years, it is clear that interim management is a stable labour 15-19 10% +1,1%

market that allows interim managers to remain in their profession for a long
20+ 12% +2,5%
time. Moreover, no sudden generational change can be detected, even over a
period of years. This continuity is the basic prerequisite for the concept of interim
management to always achieve consistently good results.

2021 <1 12%

Nevertheless, there are indications that a generational change in interim
1-2 12%
management is gradually taking shape, because while the proportion of
3-4 17%
managers with less than 3 years experience in the interim sector has been
5-9 23%
slowly declining since 2017 (2017: approx. 26 %; 2023: 18.6 %), the proportion
10-14 18%
of interim managers with a high level of experience (> 14 years) is gradually
15-19 9%
increasing (2017: approx. 14 %; 2023: 22.5 %).
20+ 10%

Interestingly, in 2021, against the backdrop of the acute crisis, our survey
recorded a temporary increase in the proportion of interim managers with less
than three years experience (23.9 %). It seems there is not a lack of young talent, 2019 <1 10%
but rather that young talent is waiting for the opportunity to prove themselves 1-2 12%
as interim managers. 3-4 18%
5-9 26%
An interim management position is largely based on previous professional 10-14 18%
experience. Even before their current job, interim managers were usually able to 15-19 10%
gain extensive experience in regular management positions. The average age of 20+ 7%
the interim managers surveyed for this year‘s Interim Management Report was
58.2 years.

The Interim Management Report 2023 18

 3.2.

Demand
The general economic situation as well as the situation for interim managers, had to be
interpreted in the Interim Management Report 2021 against the background of the drastic
political and cultural changes caused by the Covid-19 pandemic. This acute crisis is now
over, although the Covid-19 infection continues to have great relevance in the current
polycrisis. Has the employment situation for interim managers recovered since 2021?

2023

20.2% 10.4%
20.2% More than a year ago

22.6%

46.8% 12.7%
About as busy as a
year ago

22.6% -23.0%
46.8% Less busy than a year ago

While in 2021, 45.6 % of respondents answered that their job was less in demand than a
year ago, this proportion has halved in 2023 and is now 22.6 %. At the same time, 30.6 %
say that their employment situation has improved (2021: 20.2 %). This means that the data
from this year‘s survey is in line with the general growth trend in interim management that
we have seen continuously since 2017, with the exception of 2021. Like the financial crisis in
2008, the Covid-19 pandemic seems to have resulted in a temporary slump in the market,
followed by a phase of upswing.

19 The Interim Management Report 2023

 3.3.

2023
Interim Managers in assignment
Assignment
The assignment situation for interim managers has
recovered since 2021 (in 2021, 43.6% were not in a
mandate at the time of the survey; 2023: 35.2%) and
37.7%
reaches an almost identical rate to 2019. 35.2%

However, the employment situation differs greatly in some cases between the
different business areas. In particular, interim managers in Facilities Management
(14.3% without a mandate), Contact Centre (21.4%), IT (27.7%) and Finance (29.9%)
are finding above-average employment at the moment. Obviously, these are the 10.5%
16.6%
areas where companies most want support during the current polycrisis.

In the areas of social responsibility (50% without a mandate), research &

development (47.6%), marketing (44.3%) and sales (42.7%), the interim managers,
on the other hand, recorded an above-average decline in mandates. This may be
37.7% +5.5%
partly because after the „Covid-19 crisis“ there is again a stronger general demand
full time assignment
on the market. Another influencing factor may be the polycrisis, which temporarily
puts areas that are not immediately important for the company on the back burner.
16.6% +1.4%
part time assignment
The current upswing in interim management is also reflected in the number of
days the survey participants said they worked within the past year. In 2021 it was an
average of 159.5 days; in 2023 an average of 185.6 days. 10.5% +1.8%
combination of part-times

In the last report, we drew parallels to the 2008 financial crisis and speculated
that the acute „coronavirus crisis“ would be followed by a significant upswing. This 35.2% -8.4%
Currently not on assignment
assumption has been confirmed. However, it remains to be seen how long-term
this upswing will be given the current polycrisis.

The Interim Management Report 2023 20

 3.4.
2021

Assignment sources 65%

self generated
35% 65%

2023
35%
Interim-Provider
Assignment sources

-7.9%
57.5%
self generated
42.5% 57.5%
2019

7.4%
42.5% 62%
Interim-Provider
self generated
38% 62%

38%
Interim-Provider
Most interim mandates come about without the help of an interim management provider,
for example, through business networks or word of mouth. Nevertheless, more and more
interim managers are being recruited through provider services - in 2015, providers
helped fill interim positions in 29 % of cases, while in 2023 the figure is 42.5 %.
2017

Interestingly, almost two-thirds of the interim managers surveyed (63 %) rely exclusively
on provider services or themselves to generate new business. The remaining 37% use both
63%
channels to offer their services as interim managers. Accordingly, companies that hire a self generated
provider have a very different pool of potential candidates than companies that search for 37% 63%

an interim manager on their own.

37%
For providers such as EO Executives, who continue to support companies promptly and Interim-Provider
accurately by finding the perfect interim staffing, the mandate is to actively increase their
candidate pool and attract interim managers who would otherwise not use providers.

21 The Interim Management Report 2023

 3.5.
Change resistance 11.1 %

Adaptability / Fast adaptation 9.7 %

Challenges Management changes / no clarity about vision / short-term policy 8.6 %

Budget 6.6 %
Which challenges were most relevant
Assignment clarity 6.5 %
for the participants of our survey?
Availability of resources at the right time 6.4 %

Companies usually hire interim managers in particularly stressful phases. Leadership Skills 6.1 %
Problems and difficulties do not intimidate competent interim managers,
Cooperation across teams 5.6 %
on the contrary - they are welcomed by them as an interesting challenge
and used as a practical opportunity. Agility 4.8 %

The biggest challenge for interim managers is and remains the resistance Quick analysis of the current task / concrete results 4.6 %
to change in companies (11.1% of all responses), which - at least according
Customer-specific challenges 4.2 %
to the respondents - continues to increase in importance (2021: 10.5%).
This is hardly surprising, as change management is the top reason Lack of motivation of higher management 3.7 %
companies hire an interim manager (see „2.1. Main reasons for using
interim management“). Credibility - Gain confidence in the higher management 3.6 %

Work pressure / Fast turnaround 3.5 %

The second and third biggest challenges for interim managers are a
quick adaptation to the specific situation (9.7%) and too short-term or Incompetent contact persons 3.4 %
imprecise objectives set by management (8.6%).
Understanding the company‘s mission and overarching goal 3.4 %

This reflects perhaps the three most important core characteristics of

Skills / Skill Updates / Soft-Skills / Competences 2.9 %
interim managers compared to normal executives: Interim managers
create sustainable change in companies; they are highly flexible and Project Dependencies 2.3 %
adaptable, and they are always focused on concrete results.
Business ethics 1.9 %

Restrictions caused by Covid19 0.7 %

Other 0.4 %

The Interim Management Report 2023 22

The polycrisis from
the perspective of
interim managers
Covid-19 had a major impact on the situation in companies
during our last Interim Management Report in 2021.
While the pandemic still cannot be ignored, we are now
in a polycrisis: climate crisis, energy crisis, war, and
inflation. Thus, dealing with crisis situations remains
an essential part of interim management in 2023.

Consequently, companies must continue to consider

dealing with crisis situations as an essential part of interim
management, as the polycrisis will continue to affect their
business situation. Our questions about changes due to
the coronavirus pandemic, challenges and advantages
during the current polycrisis, and personal experiences in
crisis management show that interim managers face crises
productively and see them as opportunities.

23 The Interim Management Report 2023

 4.1.
TOP 3

Polycrisis: 1. Home office will integrate 74.2%

2. Accelerated digitalization
The most important changes
71.2%

3. Digital Leadership 57.4%

from the perspective of

interim managers
Multiple selection

From the perspective of interim managers,

the Covid-19 pandemic has led to lasting Home office will integrate as an
74.2%
changes, especially in the digital sector. integral part of working life

The digitalisation of the labour

71.2%
world has been accelerated
In the last Interim Management Report, we asked for a small outlook
on the time after Covid-19 and what interim managers consider to
Digital leadership - the pandemic teaches
57.4%
be particularly important during and especially after the pandemic. a new form of modern management
The development of new business models (70.1%), the permanent
establishment of positive changes (68.6%) and the recovery at the Work-life blending: work and leisure can no
38.4%
longer be clearly separated from each other
financial level (49.1%) were mentioned most frequently.

Decision-makers recognise the potential

How do interim managers rate the importance of pandemic-related of sustainable management
30.9%

changes now that the exceptional situation brought about by Covid 19

has officially ended in most countries? Companies are moving much closer
22.1%
to their cusomters and their needs

The vast majority see the most important changes in the digital sphere:
almost three quarters (74.2%) see the integration of the home office into Other 5.8%
everyday working life as a crucial aspect, while 71.2% name accelerated
digitalisation and 57.4% digital leadership, i.e. a management style
adapted to the digital world, as essential.

The Interim Management Report 2023 24

 4.2.

The challenges of the polycrisis from TOP 3

the perspective of interim managers 1. Supply chain difficulties 74.1%

2. Digitalisation / IT 42.8%

According to this year‘s survey, one economic aspect 3. Managing remotely 42.6%

presents interim managers with particularly great

challenges: the smooth running of the supply chain.

Three out of four respondents (74.1%) said that the supply chain
Difficulties in the
supply chain 74.1% was a particular difficulty for them during the polycrisis. By
comparison, in 2021, against the backdrop of the coronavirus
Digitalisation / IT 42.8% pandemic, 38.3% found maintaining the supply chain difficult.

Managing remotely 42.6%

Perhaps this clear spike has to do with the fact that more and
Financial issues 34.5% more interim managers are no longer experiencing a shortage
(2021: 48%; 2023: 19.5%) but rather too much demand (2021:
Difficulties in production 23.6% 6%; 2023: 10.5%).

Decreasing demand 19.5% Besides supply chain, digitalisation (42.8%), remote

management (42.6%) and financial problems (34.6%) were
Working from home 19.2%
most frequently mentioned as challenges in the polycrisis.
Layoffs / company closures 16.2%
The issue of digitalisation was a difficulty for only 29.7 % in
Increasing demand 10.5% 2021 - it seems that the Coronavirus measures have triggered
extensive changes in the world of work that have not yet
Travel restrictions 9.3% reached their peak.

Other 7.2%

25 The Interim Management Report 2023

 4.3.
TOP 3

Positive aspects of the polycrisis from

1. New way of working 62.0%

the perspective of interim managers 2. Digitalisation / IT 56.8%

3. Cultural change in 52.4%

Every difficulty is also an opportunity to grow and improve. management & leadership

This central principle in interim management continues to

emerge clearly during the polycrisis.

Two years ago, in connection with the

coronavirus pandemic, we asked where New way of working 62.0%
interim managers saw positive aspects
of the current situation. Digitalisation / IT 56.8%

Cultural change in
management & leadership 52.4%
The top three answers were similar as this year: new work (2021:
71%; 2023: 62%), digitalisation (2021: 59.7%; 2023: 56.8%) and a
Development of new
new type of management culture (2021: 60.1%; 2023: 52.5%). business models 51.1%

In general, however, the answers have diversified, and besides New growth opportunities 35.1%
human components, factors such as new growth opportunities
(35.1%), an optimised supply chain (29.8%) and an optimised Optimised supply chain 29.8%
production line (10.4%) have come more into focus.

Optimised production line 10.4%

While the coronavirus pandemic created a homogeneous
exceptional situation internationally, each company experiences
Other 2.3%
the polycrisis in its own way.

The Interim Management Report 2023 26

 4.4.

Important factors in crisis management

The last question in the Interim Management Report 2023 asks interim managers
about their personal focus in crisis management. Here are the results:

Which factors did the respondents

perceive important in crisis
Maintaining the positive
70.1%
effects as the new normality management?
Development of new
business models 69.3%
Our survey clearly shows that interim managers
Building strategic/
long-term supply chains 50.1% are highly motivated and positive leaders who want
to help companies emerge stronger from the crisis.
Financial recovery /
loan repayment 31.9%
Quickly restoring the status quo is only a low priority
M&A / Building new for them (21.2 %); instead, they attach importance to
strategic alliances 29.4%
permanently maintaining positive effects (70.1 %) and
developing new business models (69.3 %).
Increase demand and sales 24.1%
Compared to the situation during the coronavirus
Return to pre-crisis normality
as quickly as possible 21.2% pandemic two years ago, long-term stable supply
chains (2021: 31.1%; 2023: 50.1%) and business
Other 4% networks (2021: 21.6%; 2023: 29.4%) have strongly
increased in importance.

27 The Interim Management Report 2023

Survey methodology
and sample size
The results of the Interim Management Report 2023
are based on an anonymised survey in which a total of
2,145 interim managers from all over the world and in all
business functions took part between 19 December 2022
and 31 January 2023.

The following section provides information on the

specific composition of the pool of respondents.
The structure of the survey and the report was designed
to ensure the greatest possible comparability with the
data in previous reports. The percentages in the report
are rounded, so they may not add up to exactly 100 %.

The Interim Management Report 2023 28

 5.1. 5.2.

Represented Continents Represented Business Functions

Top Board / Executive Manager 33.8%

Finance 11.4%

Sales (Business Development) 9.0%

IT & IT Project Management 8.9%

Project Management (non IT) 7.5%

Supply Chain / Retail Management 6.1%

Operations (Manufacturing + Services) 6.0%

Human Resources (HR) 5.7%

Marketing 3.7%

Engineering / Technical 3.5%

Quality / Health & Safety 1.5%

R&D / Innovation 1.0%

5.8% Africa 89.2% Europe Corporate / Social Responsibility 0.7%

Contact Centre Management 0.7%

2.5% Asia 1.1% North America
Facilities Management 0.7%

0.8% Australia 0.6% South America

Since the percentages presented in this report are rounded,

they may not add up to exactly 100%.

29 The Interim Management Report 2023

Our recommendation
for interim executives
Joining our community of interim managers will give
you the competitive edge you need to succeed in today‘s
rapidly changing business landscape.

Increase your chances of landing new opportunities

Registering with us can increase your visibility to potential

clients, provide a competitive advantage, and help build
your professional network. Gain access to a wide range of
job opportunities and showcase your expertise.

Register with us today: careers.eoexecutives.com

The Interim Management Report 2023 30

About EO Executives
Results through people
EO Executives is an international executive search firm
and interim management provider. For more than
20 years, we have been filling management positions
in close cooperation with our clients - both with
permanent and temporary executives or interim managers.

We believe that companies expect more than many

executive search firms can offer them, and we are not
satisfied until our executives deliver the desired results
once they have been successfully positioned within
the company.

Only then do we refer to the Perfect Match.

31 The Interim Management Report 2023

 Temporary assignment
SINCE

1997
EXECUTIVE SEARCH AND
INTERIM MANAGEMENT of interim executives
MORE THAN Interim Management - Fast & Straightforward

30,000 From over 20 years of experience in interim management and after

INTERIM MANAGERS
WORLDWIDE more than 1,000 successful mandates worldwide, we can affirm:

The challenges you are encountering with your company are so

MORE THAN
individual that they also need to be solved in a highly individualised

1,000 way. Our consultants will be happy to support you with your request:
SUCCESSFUL INTERIM
ASSIGNMENTS WORLDWIDE

www.eoexecutives.com/en/consultants
MORE THAN

4,000
CLIENTS WORLDWIDE
IN THE LAST 20 YEARS

The Interim Management Report 2023 32


This is what
you can rely on:
Your options
Depending on the specific challenge, our
consultants will support you in finding the
most suitable solution for you.
An extensive interim mandate is not always
necessary. During a one-hour, free initial
consultation, you will gain clarity as to
whether the assignment of an interim or
project manager makes sense for your task.
The result: With the assignment of exactly
the right executives & specialists, you will
achieve your business goals.
33 The Interim Management Report 2023
1 Initial consultation (non-binding)
In a preliminary conversation with a consultant,
you clarify whether an interim manager is a suitable
solution for your specific task.
2 Free initial consultation
During the free initial consultation, you will receive
clarity about the concrete solution options. One or two
consultants or interim managers are available to you as
partners for the conversation.
3 Interim Project-Assessment (IPA)
The IPA is an excellent way to prepare your decision.
During a short-term mandate, an interim manager
prepares a detailed project proposal for you.
4 Project Execution
The interim manager carries out the project in your
company. Regular project meetings of all parties involved
ensure that the set goals are achieved.
5 Final Report
Upon completion of the mandate, the interim manager
prepares a comprehensive final report and ensures
a smooth handover to your managers or employees.
Interim Management:
The fields of application

Liquidity Cost management HR Production

Ensure liquidity by means of Increase efficiency in the short Utilize all the potential in Human Effectively adjust capacities:
an optimised financing and term: Cost management as a Resources: costs, flexibilisation, Relocations, closures and
cash structure. permanent task in the company. redundancies, retention. portfolio streamlining, etc.

IT & Digitisation Supply Chain Seize opportunities M&A

Execution of digitization and Ensuring stable and resilient Seize emerging opportunities Acquisition of competitors or
IT security projects such as supply chains as well as the in the areas of processes, digiti- (partial) sale of own company.
business continuity concepts. optimisation of supply chains. sation, change management.

The Interim Management Report 2023 34

Interim Management:
Benefits & Advantages

Relieve the existing management

Develop and implement new solutions quickly

Interim managers are available immediately

Interim managers are immediately productive

High return on investment

100% focus on results and implementation

35 The Interim Management Report 2023

Excellent success in
attracting executives
We are experts in executive search and know exactly what matters when
management teams need to achieve good results. Our awards confirm
our successes and are a daily incentive for us to continue pursuing our
expertise with the same philosophy: Results through people.

Our industry expertise becomes your competitive advantage

All consultants at EO Executives bring many years of in-depth experience

in their respective industries, as they themselves have held corresponding
management positions for many years.

They know your industry, the challenges associated with it and, above all,
the people who are an excellent fit for your company.

The Interim Management Report 2023 36

Executive Search
is a matter of trust
You have a vacant management position to cover? Contact us -
whether you have already prepared a job profile or would like to
find out more about hiring the right executive for your vacancy.

For specific interim requests, we support you within a few hours:

Your request will be processed immediately and a consultant will
get in touch with you:

Visit our website: www.eoexecutives.com

EO Executives - Results through people
Executive Search & Interim Management

EO International GmbH
Pantaleonswall 27
50676 Cologne

T. +49 221 888 216 50

E. admin@eoexecutives.com

Interim Management Report 2023 by EO Executives. © 2023 All rights reserved. www.eoexecutives.com