Contractor hiring in UK financial services sector is set to increase
Financial and IT contractors look set to benefit from a strengthening financial services sector. This is according to the latest CBI/PwC Financial Services survey for June 2015. A rise in activity is forecast across commercial companies and financial institutions, although capital investment, including technology expenditure, has been scaled back. Employment increased to ‘a more stable headcount’, despite productivity output per employee not fully recovering since the recession, suggesting that highly skilled and motivated contractors still have a very significant role to play in the sector. More...
Contracting in media and marketing is leading sustained flexible workforce growth
Contractors working in professional services can expect ongoing vacancy increases, according to new survey data from the Association of Professional Staffing Companies (APSCo). Contract vacancies ‘remain resilient’, with opportunities up by 2% year-on-year, the report suggests. Media and marketing are particularly strong, showing a rise of 6%, which reflects the findings of PwC’s Global Entertainment and Media Outlook 2015-2019 that the sector is enjoying a four-year boom. More...
‘Unconventional’ oil and gas contractors disappointed as fracking rejected
Oil and gas contractors with unconventional skills had their hopes for a UK shale gas surge disappointed as local government officials reject fracking in Lancashire, according to Reuters’ Karolin Schaps and Susanna Twidale. The refusal, while viewed as “a serious setback for shale gas in the UK” by John Williams, senior principal consultant at Poyry Management Consulting, shows the strength of local opposition to shale gas development. This rejection is the latest in a line of delays for unconventional gas production, suggesting that contractors with those skills should target more promising shale gas markets in the USA, South America, China and Australia. More...
Contract market shows strong growth in Europe
Contractors looking for a new contract elsewhere in Europe should start looking now, as the market across the continent showed significant growth in April 2015. The number of hours worked by contractors increased by 6.2% compared with the same month last year, according to figures from Eurociett, the European Confederation of Private Employment Services, reported by Staffing Industry Analysts. Belgium, the Netherlands, Finland and Italy reported growth in double figures; Poland and France continued to rise; and Switzerland returned to growth after three months of decline. Only Norway reported a decrease of 8.2% during the first quarter of 2015. More...
Contractor prospects in manufacturing look positive as firms plan to invest
Contractors looking for clients in manufacturing had a boost to their prospects, according to a survey by manufacturers’ lobby group the EEF. The survey, reported on by the BBC News, highlights a surge in investment and claims that manufacturing now represents about 10% of the UK’s economy. Lee Hopley, the EEF's chief economist, said: “Ongoing commitments to invest in technology, skills and innovation provide positive signals about the sector's future growth and productivity prospects.” More...
Engineering contractor demand grows while manufacturing still struggles, says Markit
Engineering contractors are still benefiting from a post-election boost, although manufacturing has softened, according the Markit/Chartered Institute of Purchasing and Supply (CIPS) Purchasing Managers’ Indexes (PMIs) for June 2015:
- The UK’s manufacturing sector softened in June according to the UK Manufacturing PMI. Overall, the second quarter, saw the weakest growth of output and new orders since Q1 2013, but hiring was maintained. New export orders declined following subdued demand from Europe, although domestic market conditions held up quite well.
- Construction grew at the fastest rate for four months in June, UK Construction PMI figures show. This was driven by a sharp upturn in both commercial and civil engineering activity. “Persistent skill shortages in the construction sector are contributing to sharp rises in labour costs in some areas,” highlighted Tim Moore, Senior Economist at Markit and author of the Markit/CIPS Construction PMI.
Interim management contractors need to be found if they want to work, highlights IIM
Interim management contractors find 45% of assignments with interim service providers, which is consistent with last year. This is according to the findings of the Institute of Interim Management (IIM) Service Providers Survey and Guide 2015. Most assignments (76%) are not advertised but are filled by contractors who have been found by recruiters. Contingent workers, therefore, need a strong visible presence on the internet and should make it clear that they are available for work. Contractors are also advised to develop relationships with a small, select number of service providers. For the second year running, Odgers Interim was voted the leading interim service provider by the IIM. More...
Contractor ‘contribution’ recognised at top level of Government
Contract workers have been acknowledged by the Government for their contribution to the growth of the UK economy. This is interpretation of the Freelancer & Contractor Services Association to an invitation received by its chair Graham Fisher to attend the Chancellor’s post-Budget briefing on 9 July 2015. In response to the invitation, Fisher said: “Flexible labour is, quite simply, the future and it appears the Government recognises this fact.” They now want the Chancellor to make it easier for contractors to operate and is calling for a fairer tax system.
Contractors to gain greater representation through new trade body PRISM
Contractors now have a new trade association representing their interests. Headed by chief executive Crawford Temple, not-for-profit PRISM was launched in May 2015. Speaking exclusively to ContractorCalculator, Temple said: “PRISM has been created as a framework to do what they have not managed to. [It] is a trade association that will represent the interests of the entire sector.” He continued: “An executive committee elected annually will set out PRISM’s goals, determine the representations it makes, and obtain any necessary funding.” More...