The Office for National Statistics (ONS) announced that the UK economy shrank by 0.3% in the last quarter of 2012 indicating that we could be heading for a triple-dip recession.
The report stated that the overall growth was very flat and reflected a ‘bumpy economy’ mainly due to a decline in manufacturing, mining & quarrying which accounted for a 10% decline.
The main positive news coming out of the survey was that there had been a 0.9% growth in the 3rd quarter of last year, mainly boosted by the Olympic Games hosted in London.
However, with a challenging and demanding market lies opportunity and we have certainly seen that in the last 18 months. Clients are embracing the use of interim mangers by hiring their skills and expertise on a short-term basis to particularly inject leadership and change skills for their business.
In a difficult market you need to be able to react to difficulties within a short timescale and hiring key individuals for your executive leadership team to navigate through difficult waters can often be achieved quickly and effectively with the use of interim managers.
One of the difficulties in this market is getting your house in order and reacting to team changes quickly, particularly at executive level. The use of interim management professionals allows CEOs to keep their business on track by using a more economically viable resource – when they need it.
Let’s face it, in this tough market with the threat of a triple-dip recession looming, we’re all focused on outcomes, delivery and efficiency….that nicely sums up the core skills of an interim manager!
The full report can be viewed on the ONS website: www.ons.gov.uk/ons/dcp171778_296664.pdf