Tech skills shortage means opportunities for contractors
Sectors which are recruiting staff for key disciplines such as engineering, IT and construction are having difficulty finding enough qualified staff for the range of roles available, meaning that it could be the perfect time for anyone considering a move to contracting to take the plunge. The Recruitment and Employment Confederation survey shows that as many as 98 per cent of contractor clients are planning to increase the rate at which they employ contractors over the coming quarter with up to 99 per cent expecting to hire more contractors in the following three quarters.
The JobsOutlook report could be just what permanent employees need to help them make the decision to opt for contracting, as the demand for their skills is not just at an all-time high, but is likely to be ongoing for the foreseeable future. The report has also identified both the engineering and technical sectors as the areas most likely to suffer from shortages of skilled and experienced professionals, with a quarter of contractor clients agreeing that the year ahead is likely to offer a number of opportunities in these industries.
The chief executive of the REC, Kevin Green, has interpreted the report’s findings, pointing out that all the signs point towards increasing confidence in the market, with businesses seeking to take advantage of increasing demand in their services by expanding their operations. Government investment in infrastructure and transport has provided a range of opportunities for businesses and individuals, as well as stimulating the economy.
However, the number of skilled candidates available to take up these positions could be a cause for concern, with a number of infrastructure initiatives requiring specialist skills and experience in managing the kinds of projects which are being planned in order for them to succeed. Employers are already expressing concerns over their ability to find appropriately skilled staff, with many reporting severe shortages in the key industries of engineering, construction and IT.
In an ideal world, the contracting workforce would be perfectly placed to provide a solution to the problem at hand, with their ability to accommodate rapid changes in supply and demand and the fact that they are able to provide skills which are in demand at short notice. This is another factor that makes it an ideal time for employees to switch to contracting, especially given that 41 per cent of contractor clients have confirmed that the contractors they are hiring are earning more than permanent staff in equivalent roles, twice the number of last year.
If you are considering making the move to contracting, then our free 60 page guide to running your own limited company could help you to understand some of the options available to you as a contractor working through your own company. We have a number of contractor case studies which can give you an idea of what life would be like if you decided to work for yourself and plenty of guides and advice on a range of related subjects.
For more information on how our low-cost, fixed-fee packages could help you make the transition, our friendly team are always on hand to discuss your needs. Simply give us a call on 01442 275789 or email email@example.com.