Hyderabad: Experienced CEOs, HR heads and CFOs are being taken on lease for a period of six months to one year by firms, which are looking at experienced hands but are unable to afford the talent for a long term. The country's major headhunters say that while this is a prevalent trend in the west, it is catching up in India now, reports Roli Srivastava, TNN.
While 'temp staffing' is fairly commonplace in various industry sectors for junior and entry-level positions, firms looking at temporary CEOs and CFOs is a fairly recent phenomenon, they say. While there were some such placements about four years ago, Shiv Agarwal, CEO of ABC Consultants says that the demand for 'CFOs on rent' is a new trend that is picking up now.
"It is now becoming prevalent in India in senior and middle management level. At the top management level, it is not called temp staffing (or temping) but Interim Management. The money is fairly good and work is done on a milestone basis. It works for people who do not wish to be wedded to a company and are looking for flexibility," says E Balaji, CEO, Ma Foi Management Consultants.
Industry experts point out that such placements are particularly visible in MNCs that are setting shop in India. "There are a lot of MNCs who come to India but are caught in procedural delays in setting up their company and need a CEO and a CFO in place before the company gets started," says Sudhakar Balakrishnan, Managing Director, Adecco India.