Welcome to Robert Cavendish
Robert Cavendish is a niche Financial Services interim firm set up to provide a unique personal service for its customers. Managed by a group of energetic, enthusiastic and experienced professionals, we will show you that you can trust us to remove the headache of hiring staff, allowing your company to operate with rapidity and efficiency. In our experience, bringing in someone who is sensibly over qualified dramatically reduces the time and risk of projects or handovers being successfully delivered.
It is thought by many people that hiring an interim manager is expensive. However, in our experience they have been proven to save time and money. Here are some interesting points to consider...
Acceptable Day Rates
A permanent employee for a senior level role isn’t just paid a salary. They also potentially gain pension benefits, car allowances, medical insurance and other perks.
No Holiday pay
A permanent employee will receive paid holiday. Allowing for bank holidays there may well be at least 28 days or more a year when you’ll be paying a permanent employee but they won’t be working. If an interim doesn’t work, they don’t get paid.
Employer’s national insurance, at around 13.8% of salary, is another significant cost to add on a permanent hire.
No Sick pay
Permanent employees often qualify for sick pay. Interims don’t.
When a permanent executive joins a firm, if they have to move, their package may include covering relocation costs. An interim, in contrast, is used to going wherever the next assignment takes them.
Adding it up
Just allowing for these additions, an executive on £100,000 actually costs more like £175,000
Senior employees often have some element of performance-related pay in their package. This may take the form of share options or a bonus. Normally, this will amount to around 20-25% of salary. In the interim management market bonuses are not normally expected. What’s expected is that the interim will deliver brilliantly for the day rate you’ve agreed as that’s what they’re there for.
If a senior permanent employee isn’t delivering or your business circumstances change it will take some time to exit them from your organisation. They may have a three months’ or more notice period. During which time you will be incurring the cost of their salary but most likely they will be doing very little. In contrast, interims are typically on just a month’s notice.
Sectors and Functions
Robert Cavendish is a dedicated Financial Services consultancy founded to provide a unique personal service for our customers…
About Robert Cavendish
Companies typically turn to Interim management when they need to complete a specific project by a definite date or when they require an experienced person to fill a gap in their management team…
If you would like to have an obligation-free chat with one of our consultants about available positions or about the ever changing Financial Services market more generally, please contact us at any time…