• Only 17% highlight job security as the most crucial factor in choosing a role
• Two-thirds of contractors expect rates to rise
• Just 5% expect rates to drop, a reduction of 3% year-on-year
IT contractors are feeling more confident 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 analysis found that contractors in IT are predicting more opportunities will become available over the next 12 months, with many appearing in the financial services sector. This demand can be partly attributed to increased legislation within the financial arena that is aimed to tackle reckless banker behaviour and will return the market back to pre-recession levels. The continued emphasis on regulation has meant businesses are now searching for talented specialists who can embed complex systems into existing infrastructure.
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 findings. “It’s extremely encouraging to see such positivity amongst IT contractors; however it’s not entirely surprising. The IT sector was always going to bounce back as technology is so deeply embedded in our everyday lives. It’s particularly interesting to note the shift in significance of job security. Pre-recession, contractors were selecting this as by far their most important factor in choosing a role; however professionals are now seeing increased opportunities in the market and want to secure the best rates as a result.”
Since 1992, giant has developed and delivered groundbreaking workforce management solutions to the recruitment market:
• award-winning giant strongbox is the professional umbrella employer of choice for temporary workers, freelancers and contractors. Independently voted Best Umbrella employer five times by readers of Contractor UK.
• giant precision is a suite of cloud-based back-office solutions designed to enhance your company’s performance. With precision essential, timesheets are made easy. And precision unlimited spans HR contract management, timesheet management, billing, payroll and payments
• Payroll disaster recovery and international payments are also available from giant precision as standalone services.
For more information, visit www.giantgroup.com
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