36% of interim workers actually said recognition for the work they do was the most important thing. It adds a string to the bow and more context and value to someone’s CV, where they can relieve hiring managers or business owners of a shortfall. There’s no better time to use an interim because when you’re not sure how things are going to look in 12 months, interims are a perfect way to see you through that period of time. We only see this going one way, with an inevitable increase in demand, so the question is how candidates can position themselves competitively.
Welcome to Macroscope, your lens into real estate hiring and careers, brought to you by Macdonald & Company. I’m Caitlin MacNamee, Associate Director at Macdonald & Company, specialising in temporary and contract recruitment within asset management. I’m Alex Moore, Director at Macdonald & Company and Head of Real Estate Services, working with consultancies, advisors, and some of the UK’s largest occupiers and prop cos.
Just as we started to see green shoots in the market, instability returned, and real estate is often one of the first sectors impacted in times of uncertainty. Coming out of the pandemic in 2021 and 2022, we had around 18 months of positive momentum. Then we saw the effects of the war in Ukraine, political budget changes, and wider global factors that heavily influenced the market.
As a global real estate recruiter, we’re seeing broad trends from both clients and candidates. The World Economic Forum suggests there could be a skills shortage of around 40% by 2027, so today we’re focusing on trends in hiring and how uncertainty directly impacts recruitment decisions in real estate.
While capital is still available, businesses are becoming more selective about where it’s deployed. Sectors like senior living remain essential and continue to see investment, whereas areas like retail have slowed. This makes interim, contract, and fractional hiring effective ways to navigate choppy waters.
Interim hiring is the most immediate and flexible solution. Contracts can be as short or as long as needed, paid on a day rate, and usually involve minimal notice periods. Contract roles are slightly more rigid, often fixed-term, and commonly used for cover such as maternity or secondments, with individuals treated much like permanent staff.
Fractional hiring typically operates at a senior or strategic level and works well for knowledge gaps. It allows organisations to bring in experienced professionals on a part-time basis, often individuals who’ve worked across multiple environments and can add immediate value during periods of change or uncertainty.
Historically, many businesses focused almost exclusively on permanent hires. However, over the past 12 to 18 months, more clients have embraced interim and fractional hiring, particularly in the private sector, where it was previously more common in the public sector. We’re now seeing this approach used across both senior and mid-tier roles.
Fractional hires are often brought in not to replace someone, but to strengthen a function. For example, adding strategic capability when a senior leader is pulled too heavily into day-to-day operations. It’s become a recurring trend across hierarchies and sectors.
One example involved an Asian media company entering the UK market. Rather than hiring permanently upfront, a fractional hire working three days a week for six to twelve months provided strategic guidance, allowing them to enter the market successfully before making permanent hires.
In uncertain markets, clients turn to interim, contract, and fractional hiring for speed. Permanent recruitment takes longer, and line managers often juggle hiring alongside their main roles. Agencies accelerate the process by vetting candidates early, reference checking throughout, and navigating complex legislation such as IR35.
Using an agency helps ensure compliance, manage frameworks like the CEST tool, and reduce risk. Agencies also add value by saving clients’ time, filtering large applicant pools, and delivering highly tailored shortlists aligned to specific needs.
Certain disciplines are particularly affected by skills shortages. Data centres are one of the fastest-growing asset classes, while valuation, lease advisory, building surveying, and ESG roles face notable talent gaps. ESG roles, in particular, benefit greatly from interim hiring due to small and specialised candidate pools.
Many ESG professionals come from facilities or FM backgrounds, and we’ve placed candidates into roles across sustainability, energy management, and health and safety, both in the UK and internationally. Interim recruitment allows businesses to define highly specific requirements and source rare expertise efficiently.
Beyond ESG, roles such as building surveyors also lend themselves to fractional models. For example, pairing a senior professional with deep industry experience alongside a fractional specialist with modern CAD or technical skills can deliver well-rounded capability.
From a candidate perspective, moving into interim work can feel daunting due to the perceived loss of stability. However, the benefits often outweigh this, including flexibility, control over assignments, and the ability to shape career direction. Contractors value having autonomy over what they do and how long they do it for.
Interim work is generally more lucrative, with day rates often exceeding permanent salaries, though it comes with trade-offs around stability. Interestingly, salary survey data shows that recognition is more important to many interim workers than pay, followed by their relationship with their manager.
These findings highlight strong job satisfaction among interim professionals, who take pride in delivering impact quickly. Interims often enter roles with a clear focus on outcomes, operating at pace and with a strong sense of purpose, even over short timeframes.
For businesses, it’s important not to fixate on cost alone. While interim hires may command higher rates, the value they deliver often far outweighs the expense, particularly over short-term programmes. Cultural fit and clearly defined success measures are equally critical.
Interims want clear scopes, KPIs, and expectations so they can deliver efficiently. Looking ahead, we expect leaner permanent workforces supplemented by interim and fractional talent, especially during periods of uncertainty. Graduate intakes have slowed, and this could further increase reliance on flexible hiring models.
The most effective future workforce will likely blend permanent and temporary talent. This balance brings fresh perspectives, energy, and experience from interim professionals alongside the institutional knowledge of long-term employees.
For candidates, preparing for this shift means investing in technology and AI literacy, staying close to industry events like UKREiiF and MIPIM, and seeking mentorship from recruiters and senior figures. The interim world offers flexibility to suit different life stages, and the ability to move between permanent and temporary work will become increasingly valuable.
If today’s discussion on flexible leadership and interim talent was useful, head to the show description. For support with hiring or building flexible, high-impact teams, visit macdonaldandcompany.com/contact and subscribe to Macdonald & Company for more episodes of Macroscope.
