“Whilst the press would suggest we are in more ‘uncertain’ times, the interim HR market has remained resilient at certain levels throughout the first quarter of 2008 and, as a result, we have seen an increase in revenue of more than 20% compared to the same period last year,” reports Digby Morgan COO, Alistair Cook.

There has been a continuing high demand for interim candidates for assignments at the lower to mid level end of the HR market. Demand for Business Partners, HR Managers and so on remains high in a wide variety of industries and we envisage this demand remaining largely constant throughout 2008.

There has, however, certainly been a tightening or a slowdown in the market as a result of the ‘credit crunch’ over the last six months affecting the larger multi-national financial services organisations - particularly at the senior end of the market. In addition, decision making processes have become more protracted over the last few months as employers are becoming increasingly specific with regard to their requirements. The acquisition of top talent remains as tough as ever.

The financial services clients that are continuing to appoint senior interim consultants are often the smaller boutique players or those expanding into the emerging international markets.

However, this tightening in the financial services sector is being offset by the growth in the demand for interim HR professionals from other sectors and from the continuing importance of the SMEs. Organisations undergoing essential restructuring and change as a result of recent corporate activity such as M&A, outsourcing or off-shoring continue to require senior skilled interim HR consultants to support them through these periods of turbulence.

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