Contractors underpin new ‘No Stone Unturned’ growth strategy
Contractors will play a major role in implementing the UK’s proposed growth strategy, if the coalition government take on board the views of Lord Heseltine in No Stone Unturned in Pursuit of Growth. His recommendations in the government-commissioned report are sweeping. They would require close partnership between the public and private sectors and the local support of small businesses, in which contractors and freelancers will play a major role. Tucked away in the strategy document is a requirement for the public sector to tear up its rulebook on pay grades and hire the talent it needs to drive through the proposals. This may well lead to an increase public sector contracts, despite the Coalition’s introduction of its off-payroll rules. More...
Contractor growth has left behind work and worklessness bodies
Ongoing and rapid growth in contracting and freelancing has left many institutions dealing with the issues of work and worklessness no longer fit for purpose. That’s according to the Fabian Society’s report, New Forms of Work, which also highlights how the UK’s institutions of taxation, government policy, social security, worker representation and trade unionism must adapt to a growing shift away from full-time permanent positions towards more flexible, short-term or part-time positions. “We need to take a long, hard look at whether our labour market institutions are fit for the changing nature of work,” explains Fabian Society general secretary Andrew Harrop. More...
Flexible workers, including contractors, keep the UK’s clients hiring, says CBI
The UK’s flexible workforce is keeping clients hiring, with 48% of UK’s science, hi-tech and IT-based businesses expecting to have a larger workforce in 12 months time. The Confederation of British Industry (CBI)/Harvey Nash Employment Trends Survey Autumn 2012, Seeking a Competitive Edge, shows that while temporary opportunities are forecast to be flat, “Businesses are targeting their recruitment on professional, technical and managerial roles, highlighting the growing demand for higher-skilled individuals and the shift to a knowledge economy.” More...
Oil and gas contractors to benefit from new North Sea exploration
Oil and gas contractors will benefit directly from new exploration activity in the North Sea, following a record number of exploration licence applications, of which 167 were granted by the government. The news, which follows major projects announced by Shell and Talisman last week, is a welcome reversal of 2011’s lowest levels of exploration for several decades. “The record number of applications for licences in this 27th Round shows that investor confidence is returning,” believes Oil & Gas UK’s economics and commercial director Mike Tholen.
Energy contractor prospects gain boost from new nuclear investment
Prospects for construction, engineering and IT contractors working in the energy sector received a boost following Hitachi’s announcement that it may build between four and six nuclear power plants across two sites. Up to 12,000 contracts and jobs will be created during the construction phases and Hitachi has committed to involve the UK supply chain from the outset.
Software-based roles dominate demand growth for online contractors
Growth in online demand for contractor services is dominated by IT, content creation and design, according to the latest stats from online freelance marketplace Freelancer.co.uk. The number of copy typing assignments, which translates as data entry, grew by 145% in the third quarter of 2012, followed by a 44% increase in HTML5 projects and a 41% increase in eBay-related projects. “Every industry we can think of is turning into a software business,” explains Freelancer.co.uk chief executive Matt Barrie, “and every job function is increasingly being performed using software tools in the cloud.” More...
Financial IT contracting threatened as City jobs remain over a third down
Financial IT contractors experienced a blow to their prospects following the news that jobs in London’s financial sector are 36% down compared to October 2011. Morgan McKinley’s London Employment Monitor recorded an 11% rise in financial jobs during October 2012, in line with market trends, but new jobs are at an historic low. As the City is the second largest consumer of IT contractor services after software development houses, the health of the UK financial sector has a direct impact on IT contractor prospects. More...
Contractors can play a part in inward investment, with the UK a top ten destination
Contractors have a vital role to play in ensuring that inward investment projects are a success, as the UK is ranked as the seventh most attractive global investment destination by Chief Financial Officers (CFOs). The latest BDO Ambition Survey of over 1,000 CFOs shows that over a third of leading global corporations are planning investment in the UK, Germany and the USA – the only three markets in the top ten outside of the ‘BRIC’ economies. Contractors are a low-risk turn-key solution for business seeking to start up and enjoy rapid returns from their investment in the UK. More...