Engineering contractors expect their earnings to increase or at least stay the same over the next 12 months, according to giant group.
The specialist service provider’s latest analysis of its contractor database found that just 4% of professionals expect their earnings to drop over the next 12 months. This has been attributed to an ongoing shortage of talent brought on, in part, by ineffective talent pipelining into the industry.
Matthew Brown, managing director of giant group, commented on the analysis. “We’re not surprised to see contractors’ earnings rise as there are a large number of major engineering and infrastructure projects going ahead at the moment and these all require the specialist skills of contractors. And with such a dearth of talent being brought into the industry, these professionals are able to command lucrative rates.”
“Interestingly, our analysis also found that contractors are staying in roles for longer periods of time than they have done in the past. This is perhaps due to the large-scale nature of the projects being undertaken, but also highlights that professionals aren’t flitting between jobs, as they have often – unfairly – been accused off. Skills development is a real priority for modern day contractors and firms have to pay above the average for these specialist attributes. While this isn’t good news for employers, it’s likely the issue will continue for some time, or until something significant is done to clear the blockage in the talent pipeline.”
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Since 1992, giant has developed and delivered groundbreaking workforce management solutions to the recruitment market:
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