Clients need to be aware that a permanent employee on £60,000 per annum is actually costing the business a lot more. Once you have added in recruitment costs, bonuses, holiday pay, employers' national insurance contributions, pension, health and company car benefits, the real employment costs are nearer £100,000 per year.
To learn more about how cost-effective hiring an interim manager can be, contact us now.
You then need to factor in the advantages of quickly plugging that recruitment gap. In a typical recruitment scenario a company takes a month to find the right person. The executive being hired will then have to typically serve a three-month notice period. So it will be four months before the candidate is in place, and five months before you know whether they are really the right choice or not. If the decision has been a bad one, you start all over again.
A senior manager is, on average, worth at least three times their annual salary in terms of their contribution to a company. Considering an executive earning of £60,000 per annum, if you take four months to find the right person, the delay has cost your business £60,000 in terms of lost contribution and that's excluding the recruitment fees and the unease and inertia which the recruitment delays have created.
Unlike a permanent employee who can have several months of grace while they settle in, get to know their way around an organisation, meet people and so forth, our interim managers are recruited with a clear set of deliverables and a fixed, often incredibly short time scale in which to deliver. They know how to quickly fit in and get things moving.
They will not get side tracked with office politics. They are implementers who know they will be judged on their ability to hit the ground running and deliver from day one. The value of this speed can be enormous.
As they are not involved in company politics - they are not going to tell you what you want to hear - but they will tell you how it is!
Knight Hamilton provide senior executives and managers as well as key sales, marketing and technical candidates.
Please contact us with your required job role and objectives. We will then obtain the specific contractor or interim manager for you within a few days.
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