Businesses are hiring senior interim managers pushing up rates for interim executives, according to interim staffing specialist Interim Partners.

The firm’s research shows 79% of interim executives are now paid more than £500 per day, up from 74% last year.

The research among 900 interim managers also shows 13% of interims are now paid £1,000 or more per day.

Doug Baird, managing director of Interim Partners, says: “During the credit crunch and subsequent recession, UK plc was forced to cut hundreds of the most senior management jobs. Businesses now need to replace these people but nervousness means they are hiring more aggressively on an interim basis than on a permanent basis.

“The shortage of senior managers and directors has meant that remaining staff often have been overseeing multiple projects and job titles simultaneously. Businesses can no longer delay in filling these roles. However, the economic uncertainty means they are only willing to commit to recruiting interim managers to fill many of these roles.”