116% increase in interim demand signifies extent of business leadership gap, with most acute need in the office of the Chief Financial Officer
Despite slow, sometimes halted, hiring and frequent budget tightening amid global economic uncertainty, an acute need remains for high-end independent talent—also known as on-demand talent—with skills to pivot adeptly in increasingly competitive business environment.
In its sixth annual High-End Independent Talent Report, Business Talent Group (BTG), a Heidrick & Struggles company and the leading talent marketplace for independent management consultants, interim executives, subject matter experts, and project managers, reported a strong rise in demand for interim leadership. This urgency for on-demand talent reflects the desire of companies to leverage more flexibility and bring in new skills to navigate economic uncertainty and rapidly changing markets.
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Underscoring that finding, the 2023 report registered a 116% increase year over year in the need for interim leadership at all levels throughout organizations, with the demand for such interim help in the C-suite rising by 78%. The most acute interim need was in the office of the Chief Financial Officer representing nearly half of all interim C-suite leadership requests. Additionally, requests for CEOs surged 220% year over year and climbed 100% for Chief Human Resources Officers and Chief Transformation Officers.
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“The dramatic increase in demand for interim leadership underscores the significant challenges companies are experiencing in today’s turbulent market. The uncertainty that organizations are facing emphasizes the importance of effective leaders to drive critical transformations and position companies for resilience in a world of constant change,” said Amelia Warren Tyagi, CEO of Business Talent Group. “As business leaders are challenged to do more with less, they are acknowledging the full benefits offered by on-demand talent—in both interim leadership roles and project-based work—to deliver the expertise needed to fill skills gaps and navigate uncertainty while remaining flexible with capacity and cost.”
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