Contractors look set to benefit from self-employment friendly measures of a Conservative Government
Contractors look increasingly likely to be working under a Conservative Government for the next five years, with the BBC reporting that the Tories are currently predicted to win a General Election majority in the House of Commons. Contractor-friendly policies proposed by the Conservatives include tax breaks for married freelancers and increases to the inheritance tax threshold. Less positive pre-election promises include cuts to pension tax relief for contractors earning over £150,000 a year and a 'crack down' on aggressive tax avoidance that could sweep up some contractors as collateral damage. More...
Contractor demand in professional staffing continues to grow, says APSCo
Contracting and temporary vacancies remain strong in the professional staffing market, with an increase of 9% year-on-year, reports the Association of Professional Staffing Companies (APSCo). These figures bode well for contractors choosing a more flexible lifestyle and contradict reports that the UK economy slowed in the three months to March 2015. APSCo chief executive Ann Swain notes: “Government initiatives to encourage an entrepreneurial approach to employment have had a significant impact on attitudes towards contracting. This is reflected in the fact that 15% of the workforce is now self-employed. A rise in contract vacancy numbers no longer represents weak permanent employment figures.” More...
Contractors in creative sector to see salary gap close between London and wider UK
Contractors working in the creative industry outside of London should no longer find their salaries lagging behind those in the capital. According to a survey by creative industry online network Creativepool, the gap between London and UK-wide salaries has dropped by 6% during the last year. “Optimism is the word that can be used to describe the creative industry for 2015 as 60% of those within the sector think their pay will increase. We believe Creativepool’s report shows the industry’s confidence as a whole,” suggests Creativepool founder Michael Tomes. More...
Contractor opportunities increase in London’s financial sector
Financial services and IT contractor prospects look increasingly positive as contract and job openings continue to increase in London’s financial sector. Data from recruitment firm Astbury Marsden shows that contract and job vacancies jumped by 54% in April 2015, when compared to the same period last year. “On the mergers and acquisitions side; while the bulge bracket firms are picking up dozens of mandates, smaller firms are also getting in on the action,” commented Astbury Marsden managing director Adam Jackson. Contractors would do well to monitor this trend in order to spot hard-to-fill vacancies. More...
Oil and gas contractors working in the North Sea should remain optimistic
Oil and gas contractors working in the North Sea have plenty of reasons to remain optimistic while major oil and gas firms continue to cut jobs. Rigzone’s Jon Mainwaring highlights that industry is pressing ahead with several projects, including BP’s Clair Ridge development and the GDF Suez and Centrica’s project in the southern North Sea, which is set to create up to 4,800 new contracts and jobs during its five-year construction. Scottish Enterprise international sector head for gas and oil David Rennie advises “trying to keep” an “eye to the long term”. He also points out that, even at oil prices of $50 per barrel, two-thirds of North Sea oil-producing fields remain economic. More...
Contractor numbers set to rise as major sectors sustain employment levels
Contractor hiring remains buoyant despite a slow down in the major sectors, according the Markit/Chartered Institute of Purchasing and Supply (CIPS) Purchasing Managers’ Indexes (PMIs) for April 2015:
- The UK Manufacturing PMI shows manufacturing employment grew for the 24th consecutive month in April, with an increase in orders for the domestic market. Contractors in the consumer goods sector look set to gain from this “stand out performer”
- Contractor job creation remained robust during April, according to the UK Construction PMI where “sub-contractors continue to be the winners in ongoing work,” says Markit senior economist Tim Moore.
- The UK Services PMI shows a marked rise in employment in April, which should led to opportunities for contractors who provide professional services.
Tech contractors could gain from ‘rosier picture’ of hiring reported by KPMG
Contractors in the UK tech sector could find their prospects considerably enhanced if the results of the latest KPMG/Markit Tech Monitor UK survey bear out. The report, which tracks the performance, confidence and employment outlook of UK technology businesses, revealed that two-fifths of the survey panel anticipated an increase in hiring over the year. KPMG partner and head of technology Tudor Aw estimates that the 21st century UK tech sector now accounts for over one million contracts and jobs: “The UK tech sector has grown significantly, delivering three times the rate of job creation as the wider UK economy.” More...
Contracting for an SME manufacturer remains a ‘solid’ option, as domestic orders increase
Contractors working for small and medium-sized manufacturers can look forward to a busy schedule according to the results of the latest CBI SME Trends Survey. The total of domestic orders, output and numbers employed in the three months to April increased, although the survey showed continued slow growth for exports. CGI deputy director-general Katja Hall expects a “pick-up in activity in the next three months” but warns that “prospects for exporting to the rest of Europe remain a concern”. More...
Contractors’ chance to make up shortfall in digital workforce
Contractors with skills, qualifications or experience in tech specialisms have an opportunity to exploit the widening skills gap. Skills body the Tech Partnership’s Employer Insights survey revealed that 72% of large companies and 49% of smaller companies have gaps between the skills held and the skills needed by their tech staff. Clients have also reported that hard to fill vacancies that take an average of 91 days to fill account for over a third of all tech specialist openings in financial services. Contractors with digital prowess should also avail of the fact that it takes employers an average of six weeks to address the skills void through recruitment and training. More...
Contractor are more common than we think, confirms REC General Election quiz
Contractor numbers in the UK workforce far outweigh the perception of the general public, according to the results of the Recruitment and Employment Confederation (REC) ‘Question Time quiz’, which has run for the last five weeks to gauge awareness of political parties’ policies on jobs. The data reveals that, although 36% of the UK workforce has held a temporary post at some point, almost four in 10 participants answered incorrectly when asked. REC director of policy Tom Hadley comments: “This suggests there is a way to go to make people aware of some of the realities of the UK jobs market, and to provide context for the debates around jobs that we see play out amongst politicians and in the media.” More...