Group Company Secretary- Asset Management Company
Over the past 3 months DMJ has noticed a 45% increase in the number of interim instructions received within the company secretarial market. From a talent-pool perspective, the interim contractors make up a small fraction of the goveance profession, often making it challenging to match suitable individuals to relevant assignments creating a great opportunity for those interested in dipping their toe into interim employment.
So, what has caused the increase in interim opportunities? Traditionally, the first 3 months of the year tend to be a busier period for company secretaries as businesses are going through their Year Ends. This increases workloads and often getting short-term support with a focus on Year-End work is seen as a good solution to relieving some of this strain and avoiding an extended period of working long hours within the department.
However, due to the pandemic and changing regulations, this previously annual short-term phenomenon of interim work, is no longer so short-term. Goveance teams are now looking at interim work as a more permanent solution to managing their workload for a number of reasons.
The lack of certainty across markets in general has put some restrictions on companies bringing in permanent members of staff, leaving contract workers as an option to fill any gaps that may emerge due to natural attrition. This has led to an increase in medium length contracts (6 – 9months) as businesses wait for greater certainty on how things will be organised when business practices closer resemble their pre-pandemic selves.
Some challenges employers and contractors face revolve around rates and expectations. With the changes to IR35 coming into effect this month, limitations are expected on Ltd company contractors managing to identify relevant assignments. In addition, over recent years, Ltd company day rates have been able to grow as they still presented a relatively cost efficient and flexible solution to any interim requirements that may emerge. We work with advisors in identifying whether assignments may sit outside of IR35 and have a range of individuals to match any length and formation of contract, ensuring that both employers and employees are in full understanding of these upcoming regulation changes.
Another obstacle has always been the availability of contract workers. Timing has become an important factor in securing the best individuals, and therefore the greater amount of planning and anticipation businesses are able to afford, the more successful their recruitment processes are likely to be. We have addressed this issue and those above through research and the creation of the Interim CoSec Marketplace.
Our Interim CoSec Marketplace aims to provide both employers and contract workers with up-to-date access to the market and to match relevant assignments with suitable interim consultants. We have been able to communicate with a broad selection of experienced consultants whilst also contacting our key clients across all sectors to ensure our access is as complete and as up to date as possible. We have been diligently working to collect high-quality interim employees for companies facing the challenges noted above. Employers can lea more about the Interim CoSec Marketplace and see the quality of our available candidates here.
There is also a dedicated space available for those interested in taking on interim goveance work. Goveance professionals can click here to understand all the benefits associated with contract work including flexibility, variety, increased eaing potential and much more. What is really exciting about the current interim employment market from an employee perspective is the plethora of positions available and the lack of quality professionals to fill them. It truly is a seller's market offering great opportunities and quick starts.
Our Interim CoSec Marketplace is a constantly evolving service that adapts based in the needs of the market. We are certain in its pliancy meaning that if we don’t have a role or candidate currently to fit your needs, we can adapt to provide the perfect solution.
Contact me for an informal and confidential discussion about interim employment at firstname.lastname@example.org or 020 3058 1459. We have a wealth of experience in this space and are certain we can guide you through this expanding market.