'Rent a CEO' concept catching up in India
Tuesday, 13 April 2010, 02:58 Hrs
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.
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