InterExec
InterExec is an agency based in the United Kingdom, providing senior businessmen similar services to those provided in other professions such as a literary agent, talent agent and a sports agent. Headquartered in the City of London, InterExec also has offices in Birmingham and Manchester. The company claims to be the only business in the UK offering this type of service.
History
The agency opened in 1976, when it began working for employed executives seeking a career move. In those days an executive was often employed by the same company for life and few understood the concept of planning one’s career to maximize income, skills and expertise .
Business model
The Employment Agencies Act 1973 stipulates that, with few exceptions, it is illegal for employment agencies to charge fees to workers for finding, or seeking to find, them jobs.. Whilst the Employment Agencies Act 1973 prohibited employment agencies charging. In November 2008, there was a European amendment to (c. 35), in section 9 (inspection), subsection (4), of the act
Richard Donkin from the Financial Times commented:
“The more I look at it, the more it seems to make sense to allow a service like InterExec’s. The 1973 act was introduced to outlaw cowboy agencies that were exploiting job seekers in low earning occupations, often making promises that they could not fulfil. If InterExec is entering into a grown-up relationship with high-earning individuals who are probably too busy to spend much time on job searches, why should that be against the law?
“Apart from fee structures, what is the substantive difference between this kind of agent and a literary agent? If executive talent is seen as a prized commodity, then executives should be able to employ agents to look after their interests.”.