The economic crisis has led to an increase in finance contractors seeking job security, a survey by professional employment provider, giant group, has revealed.
According to the survey, Temporary recruitment market report: what was the impact of the financial crisis? finance contractors are noting an increase in preference for lengthy contracts over a higher per hour payment. Numbers of those preferring long term assignments have grown by 13% since 2006.
The results also indicated membership to financial professional bodies has dropped as the contracting market becomes more crowded. While 80% of those surveyed pre-recession were part of the leading trade bodies (ICAEW, ACCA, CIMA and CIPFA), this number has dropped significantly to just 14% during 2012 and 2013.
Matthew Brown, Managing Director of giant, commented on the report, “The finance sector is one of the greatest examples of an industry that recognises the value of contractors during difficult times. However, while professionals in this area are in demand, the desire for more job security is still prevalent. The significant drop in membership to trade bodies also presents a slight concern. While it’s understandable that individuals are cutting back expenditure themselves, the competitive advantage such a membership has for a contractor shouldn’t be underestimated.”
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