"Outlook for contractors is good" – according to Hays
According to Hays, previously Hays IT, recovery has come in the second half of the year – with net fees showing an increase of 8% and the company’s profits up by 23% compared to the first half. Contractor placement business represented 58% of net fees in the first half of the year, with the permanent placement business representing 42%. Hays have stated that permanent placements are currently running ahead of contractor placements, but this is also good news for contractors, as, when the permanent market fills up, contractors will be in high demand.
A Hays representative commented, “The outlook across 90% of our markets, including the UK private sector, continues to improve. All in all it wasn’t too bad a ‘downturn’ for contractors, compared to other downturns, and now it looks as if recovery is well under way.” The number of contractors which Hays had in the marketplace fell by only 9% during the recession, which is remarkably low compared with other downturns. Permanent staff however were more badly hit, falling by 19%.