Contractor News Roundup: July 2020
94 per cent of businesses are reporting they have limited capacity to take on more work without more staff and of that, 98 per cent of employers are saying they will be relying on contractors, according to data from the Recruitment and Employment Confederation (REC). Those that hold professional and managerial skills, technical and engineering skills will see the highest demand.
73 per cent of the respondents from hirers reported that they preferred to take on contractors via agencies, as it gave them the skills they needed to complete short term jobs. Furthermore it shows that 38 per cent of clients plan to increase their contractor worker numbers before the year end. Additionally, organisations are now considering means of additional resources in the form of temporary workers such as contractors, due to 74 per cent thinking that the economic climate is improving.
Chief executive of the REC Kevin Green said that businesses “Employers are consistently telling us about the importance of temporary workers, especially in areas where there are skills shortages. People with managerial experience are especially in demand, and this points to the need within many businesses to implement changes in order to boost productivity”.
Green added “More generally we are seeing employers shift their focus away from hiring new staff in order to concentrate on getting the most out of the people they already have. This is good news for workers who should see more training opportunities and incentives being offered, potentially including increases in pay”.
If you want to know more about what life is really like as a contractor, our contractor case studies contain plenty of information for those who are considering taking the plunge. We can also provide advice on the advantages and disadvantages of going limited and a range of other issues surrounding contractor tax to ensure that you are operating in the most profitable way possible which can be vital if you want to secure any type of lending.
For more detailed advice about buying property as a contractor, planning for your future, or just making the most of your income, call our friendly team today on 01442 275789 or email firstname.lastname@example.org.
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