IMA Code of Practice

Code of Professional Practice and Good Conduct

The Government’s Department for Trade and Industry is responsible for ensuring compliance with the statutory regulations governing operations of employment agencies and employment businesses in the UK. However, the Interim Management Association recognises the need to establish and maintain standards of best practice in addition to the regulatory regime and seeks to promote such standards on behalf of the interim management sector.

This Code of Professional Practice and Good Conduct (The Code) is intended to assist members by defining a high standard of professional practice and by detailing good conduct, breaches of which could lead to suspension or loss of membership of the Association.

For the purposes of this Code, the term ‘Member’ shall include all categories of membership as defined in the Constitution, and all terms and expressions used shall have the meaning assigned to them in the Constitution. The Code shall be binding on all members.

The Code may be amended from time to time by approval of the membership at an Annual General Meeting.

Confidentiality

Members shall regard as totally confidential all information concerning the business affairs of their clients and members shall require their interim managers to give a similar undertaking.

Professional Values and Activities

The provision of interim management services is a professional endeavour. A profession is characterised by the objectivity, integrity and thoroughness of its practitioners. Members will maintain the highest standards of professional work and behaviour so that their actions reflect favourably on the Association, its members, their clients and interim managers.

A member shall not, through any action or inaction, do anything which could bring the Association or other members into disrepute on any professional matter or which could be detrimental to the aims and objectives or good standing of the Association. Members will conduct all their promotion, public relations and new business activities in a manner that involves no representations, expressed or implied, that are false, deceptive or otherwise misleading.

Among other values binding members are:

Introduction Fees

Where interim managers are currently on assignment with an organisation members shall not pay to that interim manager, their spouses, partners or business associates, nor to companies controlled by them, any fee for the introduction of additional interim assignments, or other consulting or advisory work with the organisation the interim manager is working for nor for any subsidiary organisation, parent or organisation or associated organisation.

Industry Statistics

All members are committed to supply accurate statistical information on a confidential basis to the Association for collation of statistics to aid the members’ generic understanding of the interim management market and to aid awareness and liaison with Government and other third parties.

Equal Opportunities

Members shall seek to develop a positive policy towards, and take necessary steps to promote, equal opportunities employment.

National Insurance and Tax

Members shall ensure that they comply fully with the law relating to Tax and National Insurance.

Employment Agencies Act

Where applicable members shall make themselves and their staff fully aware of time provisions of the Employment Agencies Act 1973, and its regulation and any other relevant legislation. Such legislation must be complied with both in sprit and to the letter of the law. Breach of the law shall be deemed to be a breach of this code.

Fair Trading Policy and Competition

It is the policy of the Association and its members to engage in free and fair competition in the provision of interim management. Neither the Association nor any member will engage in any unlawful restraint of trade or unfair method of competition.

In dealing with clients the members of the Association will normally follow these trading standards:

• To establish a clear understanding of the client’s organisation and requirements and to provide objective professional advice on the appropriateness of interim management, visiting them whenever possible for this purpose.

• To provide a written statement, setting out the description, scope and character of the services to be provided by the member and interim manager.

• To make a comprehensive search for appropriately, qualified interim managers. If a candidate has already been put forward for an assignment by another agency then members should not put that candidate forward again to the client.

Wherever possible to supply a limited choice of screened executives to a client. To make a thorough evaluation of interim managers, including personal interviews and careful assessment of the individual’s suitability and qualifications for the assignment. Members will treat all individuals on their database equally in making this assessment.

Members will normally be expected to state their terms of business to clients without ambiguity. They will define and advise an appropriate price structure for supplying the executives proposed. While commercial and competitive conditions prevail, members will be expected to quote fee rates on a daily basis, including gross margins, with the addition of expenses and VAT as appropriate. Variations to this approach are unusual.

Members shall ensure that prior to commencing work, the interim manager is fully briefed as to the scope of the work; responsibilities and time period of the assignment and members shall also ensure that the interim manager is aware of relevant contractual arrangements with the client.

Members normally undertake to visit client premises and to conduct their search and preliminary interviewing of possible candidates, free of charge. The Association sees this as an important part of our professionalism and approach to customer care. A search fee may be charges by a member in some circumstances and where this is so a client will be notified in advance.

Deviations from these trading standards will be exceptional and may be subject to scrutiny by the Recruitment & Employment Confederation Professional Conduct and Disciplinary Committee in the event of complaint from another member or third party outside the Association