Report finds engineering contractor market has returned to pre-recession levels
• Engineering professionals optimistic over opportunities in the next 12 months
• Contractors placing less emphasis on longer placements
• An impressive 93% of respondents expect rates to increase
Contractors in engineering are feeling optimistic about both pay and opportunities, according to a study by giant group. The professional umbrella employment provider’s latest analysis compared current contractor sentiment to its ‘Temporary Recruitment Market Report’ which analysed the healthcare, finance, IT, engineering and education sectors in 2013.
The organisation’s latest analysis found that 93% of contractors in the sector believe that their earnings will increase or stay the same over the next 12 months. Contractors also noted increased job security with 66% reporting they felt more secure or around the same in their roles compared to one year ago. Much of the upturn in positivity can be attributed to large-scale projects such as the development of the Crossrail and HS2 railway lines which have raised demand for engineering contractors in an array of areas.
These results match the overall trend found in giant group’s study which found that the UK contracting arena has returned to pre-recession levels with many professionals reporting more opportunities now than before the economic downturn. As a result, contractors now place less emphasis on longer assignments, indicating they’re optimistic about the state of the employment market.
Managing director of giant group, Matthew Brown commented on the results.
“With improvements in the economy comes increased investment in infrastructure projects and we believe this is driving much of the demand for engineering talent. Complex projects such as Crossrail and the HS2 railway line require talented experts who aren’t always readily available in the permanent workforce. This has meant specialists have been highly sought after to plug gaps and lead projects in a range of areas. We expect contractors will remain in demand over the next year, with construction specialists able to choose from a variety of projects should they so wish.”
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