September 15, 2017 – Executive search firm McDermott & Bull has expanded with the additions of James Hickey as senior managing director and Tamra Solis as vice president of talent acquisition to its interim leaders division.
Mr. Hickey previously served as national managing partner, private equity services, at Tatum, concentrating on helping private equity firms improve operational performance and respective returns on investment of their portfolio companies throughout the country. He holds over 20 years’ experience in private equity, working with companies on M&A activities, IPO process and SEC compliance. Before joining Tatum in 2008, Mr. Hickey was senior vice president at Merrill Corporation.
“McDermott & Bull is an established and respected brand, focused on assisting companies with the most crucial human capital needs,” said Mr. Hickey. “I’m thrilled that my experience assisting private equity firms and growing middle market companies is expanding to serve the entire executive suite.”
Ms. Solis joins McDermott & Bull with over 20 years of executive search and interim experience. Most recently, she served as talent management partner at Tatum, identifying critical talent to help companies through new business initiatives and challenges. Prior to Tatum, she held roles at Robert Half International and Manpower Professional.
“McDermott & Bull has established an outstanding reputation in the industry,” said Ms. Solis. “I’m looking forward to leveraging my background in talent management and acquisition as we continue to expand the interim leaders division.
Demand for Interim Talent
“The demand for exceptional interim talent at leading middle market companies is at full tilt,” said Rod McDermott, CEO. “The addition of James and Tamra to McDermott & Bull will enable us to expand our footprint and build on the substantial growth we’ve realized within our interim leaders division.”
Founded in 2001, McDermott & Bull’s practice leaders all have substantial executive experience and serve public and private companies across most industries. Since the advent of MB Interim Leaders in 2011, the firm has served both the permanent and interim needs of its clients.
Massive Shift to Contract Employment Underway
By 2025, most workers (70 percent) and employers (68 percent) agree that a majority of the workforce will be employed in an “agile capacity” (i.e. contractor, consultant, temp worker or freelancer), according to a study released by Randstad US.
Sidestepping Talent Gaps
According to a recent report released by CareerBuilder and Economic Modeling Specialists International, hiring temporary and contract employees can help businesses sidestep talent gaps and remain nimble. The study shows more companies will be tapping into this labor segment, with temporary employment expected to add 173,478 jobs from 2016 to 2018 – an increase of 5.9 percent.
“Today, nearly three million people are employed in temporary jobs, and that number will continue to grow at a healthy pace over the next few years as companies strive to keep agile in the midst of changing market needs,” said Kyle Braun, president of CareerBuilder’s staffing and recruiting group. “Opportunities are opening up in a variety of occupations and pay levels, and this is a trend we’re seeing in a wide range of industries and company sizes.”
A separate report by CareerBuilder found that 47 percent of employers reported that they planned to hire temporary or contract workers in 2016, up slightly from 46 percent last year. Of these employers, 58 percent plan to transition some temporary or contract workers into full-time, permanent roles.
“Temporary employment benefits both sides of the labor market,” said Mr. Braun. “Hiring temporary and contract workers helps companies stay flexible and adapt quickly to changing market demands. For workers, it opens doors for those who want to utilize various skills, build relationships with different organizations and explore career options.”
These figures coincide with similar findings by The Execu | Search Group. Its “2016 Hiring Outlook: Strategies for Adapting to a Candidate-Driven Market” report found that 26 percent of hiring managers surveyed planned to increase hiring of temporary employees in 2016.
In addition, a recent Adecco study, “Definitive Guide to Building a Better Workforce,” found that 67 percent of companies use contingent labor to enhance their workforce and close talent gaps. The study surveyed 536 C-suite executives across the U.S. regarding the types of talent they need, skills that are most difficult to find, how they are using contingent labor and progressive recruiting methods to enhance their workforces, employee retention techniques and more.
The report found that 80 percent of employers agree that the U.S. skills gap is a real challenge, and it provides insights into how different companies conceptualize and address this gap in talent. Part of the reason for the increased use of temporary workers: Companies are having difficulty finding quality talent.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Will Schatz, Managing Editor – Hunt Scanlon Media