by Chris Williams0
Why The Infrastructure Industry Is Ready For Interim
Although some sectors such as financial services and public health have been using interims for a number of years, there are other areas where adoption has been slower, but is now significantly increasing. Consultant Christopher Williams shares his thoughts on the rise of interims in the infrastructure industry.
Infrastructure Taking The Initiative
The link between infrastructure and economic performance has always been a strong one. Whether it is in times of boom or bust, it is a symbiotic relationship. As the economy continues to recover (withholding developments in Greece), it is the infrastructure industry that seems to be grasping the initiative and looking at new ways to contribute to growth. But what are the key factors behind this trend and how are interims involved?
From speaking to many businesses in the sector, large and small, it is key that investment has returned. The increase in confidence has helped organisations support different projects and programmes, bringing them off the shelf and back online – good news for the businesses and also the professionals who work in them, interim or permanent. This factor looks set to pick up steam, as large foreign investment (particularly from China) acts as a great boost for British infrastructure.
- Economic performance
The improving British economy situation has also helped. Falling unemployment, rising wages and positive economic indicators means that certainty has returned and this allows businesses to look at expansion, growth and hiring, rather than acting with caution. Government economic support for these projects is also a consideration, across areas such as road and rail.
- Improvement needed
In infrastructure in particular, there is also a clear case for improvements needing to be made in the industry and hiring the experts to carry them through. Whether this is to meet new demands, improve organisational efficiency, or combine services, the requirement to make companies more productive and demonstrate tangible improvements is central.
- Technological changes
The advance of technology means that infrastructure businesses, especially utilities, must keep up to date with the latest ways in which to deliver their services to their customers and hire the talent to realise them. For example, many energy providers are now looking at how to implement smartpay technology into their organisations. This will not only modernise their offering to their customers and help solve service and billing issues, but will also help to retain a competitive edge. Regulators in each industry are a real driving force behind this progress.
- Commercial element
Lastly, whether hiring interim or permanent, the infrastructure sector has become significantly more commercial. In a more competitive environment, the changing dynamic and rising customer awareness and advocacy has meant that organisations need to ensure they have the right talent in place, who are not only able to perform a functional role, but also balance this with a commercial element too. This is about the development of commercial propositions, as organisation look to diversify geographic or service offering to achieve new profitable revenue streams. Such changes in technology above have lead to the potential for higher margin work, and the attractiveness of this opportunity has led to the greater investment.
Have you had experience in the infrastructure industry? What do you think are the key trends for the sector going forward? Share your thoughts below.