The HR and finance sectors are experiencing a significant rise in skills shortages, prompting an increased reliance on interim workers.
- A recent report reveals that 67% of interims are chosen for specific skills or experience to fulfill role requirements.
- Majority of interims emphasize a results-focused approach, with 82% focused on deliverables.
- Interim hires are being utilized for change management, covering permanent roles, and strengthening project teams.
- Widespread skill gaps and economic challenges push professionals toward interim roles for flexibility and opportunity.
In light of the rising skills shortages within the HR and finance sectors, interim workers are increasingly becoming a vital solution. Research conducted by a specialist recruitment firm indicates that 39% of interims are hired to address short-term skills gaps left by permanent staff, with the majority of these hires possessing specific skills or experience critical for fulfilling their roles.
The report, surveying over 300 finance and HR professionals, underscores that 67% of interim workers are selected due to their specific expertise. This strategic hiring illustrates the growing trend of employing interim candidates proficient in crucial skills, especially as organizations face challenges in sourcing permanent talent.
Furthermore, interim workers are characterized by their results-oriented focus, with 82% prioritizing deliverables. This keen focus on tangible outcomes makes interim professionals valuable during periods of uncertainty, such as during structural changes or when strengthening project teams.
Research highlights other core reasons prompting interim hiring, such as change management related to business structures (37%), covering vacancies of permanent hires (35%), and augmenting project teams (29%). These statistics highlight the multifaceted roles interim workers play, not merely as stopgaps but as integral contributors to business operations.
According to Chris Goulding, Managing Director of the recruitment firm, “Interim workers offer employers a valuable solution to resolve skills and structural issues in their workforce… whether supporting existing teams or engaging in change management work.” His insights underline the agility interim workers bring, addressing immediate organizational needs.
Amid this reliance on interim roles, many companies also recognize the gaps in current employee skillsets. Gartner’s findings reveal a substantial 70% of HR practitioners feel underprepared for their roles, stressing the critical need for upskilling. In finance, where 73% of roles are now highly skilled, there is a growing imperative for skill development across the workforce.
Competition for talent is intensifying, with CIPD’s research indicating a 70% increase in competition between 2021 and 2022, reflecting how challenging it has become to retain skilled professionals. This landscape further encourages the strategic employment of interim workers as a viable means to support business continuity and growth.
Interestingly, the growing interim workforce aligns with changes in workplace structures. Some professionals, initially not planning for interim work, shifted due to redundancy or difficulty in securing permanent positions. These workers find the flexibility and potential for higher earnings attractive, with minimal office attendance required.
Goulding notes, “Workers are attracted to interim positions.” Flexibility, work-life balance post-COVID-19, and economic pressures enhance the appeal of these roles, suggesting a likely continued growth of the interim workforce.
Interim roles, driven by skill shortages and economic pressures, are becoming indispensable across HR and finance sectors.
