What was needed, thought Thompson, was a service that supplied a whole range of expertise on an on-call basis. Result: Thompson started IMCOR, a temporary employment service that provides interim executive help for companies that re quire such services.
Thompson started his company in April 1988, and business is booming. He says there has been a need for this type of service for a long time. What made it work, he says, is that the downsizing and mergers and acquisitions that took place in the business world made available a large supply of very talented people, some of whom no longer want a full-time position. Thompson's solution was to bring together companies who needed executive help on a short-term basis with executives who could fill in on an interim basis.
Thompson says he places individuals in positions of chief executive officer, chief operating officer, chief financial officer, marketing and human resource managers, executives for negotiating license agreements, and a broad range of specialists from middle to top management.
Such executives, according to Thompson, may be on assignment from three months up to a year, depending on client requirements. Salaries for such temporary/interim executives generally range from $75,000 to $150,000 on a per annum basis, with some higher.
Assignments Vary
Executives who sign up with Thompson submit a resume. They are screened and asked to fill out an extensive six-page questionnaire that focuses on functional and industry skills. Each person is then evaluated to see where he or she qualifies in IMCOR's talent pool. This information is then put into a computer. When a company asks for a specific type of expertise, a computer search is made to come up with appropriate candidates. There are extensive interviews between the candidate and the client before the selection is made, says Thompson. All fees are paid by the client company. According to Thompson, 25 percent of his out-of-work clients end up with permanent (full-time jobs) assignments.
One of Thompson's clients, Linda Plevrites, an accountant, worked at Time Inc. for 24 years. She started in 1964 "at the lowest rung of the ladder" and ended up as controller of the magazine division. She accomplished her career goals and "hit the wall" at 46 years of age when she asked herself, "What am I doing? I don't want to spend all my time doing this." She quit her job, her husband sold his business, and they decided to enjoy themselves. Plevrites then took time off to go to the gym three times a week, take piano lessons, and do what she calls "fun things."
Nine months later she heard about IMCOR, a temporary employment service that placed executives. She contacted IMCOR, filled out the applications, went through the interviewing process, and was called in by an advertising agency to "act as an accounting manager, a controllership kind of function." Plevrites says, "You work at your whim, long and hard. It's similar to Time Inc. I stepped into something that fits like a glove. It's a lot of fun, with different problems and a different environment. People have been easy to work with." Plevrites says she likes the sense of freedom. At this writing she and her husband are planning a six-month trip to Europe. "I don't think I'll ever take another job," she says. She and her husband may go into business together later on, but for the moment she enjoys her lifestyle, knowing that she can work where and when she wants.
