Contractor demand in all sectors continued to rise, as candidate numbers fall
Contractor demand continued to increase during April 2014 across all core contracting sectors, but the availability of candidates for new contracts fell at the sharpest pace since 2000. This is according to April 2014's Recruitment and Employment Confederation (REC)/KPMP Report on Jobs, which also highlights worsening skills shortages. “The jobs market could be jeopardised with thousands of employers not able to find the skills and talent they need to meet increasing demand,” notes REC CEO Kevin Green. More...
Numbers of oil and gas contractors working offshore boosted by record investment
Following record levels of investment, the number of oil and gas contractors and employees working offshore in the North Sea rose by 8.6% during 2013, shows the latest Oil & Gas UK’s Demographics Report. The number of contractors and employees in their twenties increased significantly, up 14.7% on 2012. This shows that the age profile of the oil and gas workforce may be balancing towards younger contractors and employees. Less positively, there was a decline in the number of women working in the sector. More...
Self-employed contractor and freelancer numbers reach another record high
The number of self-employed contractors and freelancers rose by 283,000 to reach a record 4.55m in the first three months of 2014. This represents the fastest increase in self-employment since records began. Self-employment rose by 4.2% during the quarter, outstripping the 0.4% growth in employment over the same period. “The way we work is fundamentally changing in this country,” says PCG chief executive Chris Bryce. “We have seen a steady rise in self-employment over the past ten years as people begin to recognise the benefits of being in control of their own destiny.” More...
Finance and IT contractors to benefit from surge in City hiring
Financial and IT contractors can expect a stream of new contracts as hiring in London’s financial sector surged by 67% over the last 12 months. Morgan McKinley’s London Employment Monitor for April 2014 also shows that candidate availability fell during the month, suggesting looming skills shortages. “In terms of the roles most in demand, organisations are seeking risk and compliance specialists, with an increase in funds compliance advisory roles and distribution compliance roles within the last month,” explains Morgan McKinley Financial Services operations director, Hakan Enver. More...
Contractors at risk of HMRC errors if taxman gets powers to raid bank accounts
Contractors may be at risk of paying the incorrect amount of tax as a result of HMRC errors if the taxman is granted new powers to deduct unpaid tax directly from bank accounts. BBC News reports that the Treasury Committee “says it is very concerned because tax officials have a history of making mistakes”. According to committee chairman Andrew Tyrie: “People should pay the right amount of tax. But HMRC does not always ask for the right amount.” More...
Construction contractors to benefit from increases in commercial construction
Contractor contractors targeting clients in the UK’s commercial property sector look set to benefit from increased activity. The latest Savills Commercial Development Activity report shows: “a robust degree of positive sentiment and one that was the second strongest in the survey history”. Activity is also increasing nationwide, and not just in London and the South East where it has been previously focused, benefitting contractors throughout the UK. More...
Contracts and jobs being generated by rising export sales
An increasing number of contracts and jobs are being created as a result of rising export sales. The British Chambers of Commerce (BCC)/DHL Express Trade Confidence Index shows that 40% of firms are looking to hire more workers, the highest number on record. The future is also looking positive for contractors with exporting clients in their sights, as 71% of exporters are confident that future export sales will increase. More...
Demand for engineers far exceeds supply, offering contractors short-term benefits
The demand for engineers across the UK currently far exceeds supply, which in the short term is good news for engineering contractors as it means demand for their services can only increase. In a report by Rigzone’s Robin Dupre, engineering firm Aquaterra Energy highlights that there is demand for 87,000 engineering graduates each year, but the UK is only producing 46,000. Part of the solution according to Patrick Phelan, managing director of Aquaterra Energy, is to “map the skills shortage and perform skills gap analysis in order to provide the data to more closely match shortages with actions to generate suitable candidates.” More...
Contractors and flexible workers make up 10% of clients’ workforces
Contractors and other flexible workers, including temps, freelancers, interims and consultants, now make up an average of 10% of the workforces of the organisations who use their services. The Chartered Institute of Personnel and Development’s Labour Market Outlook for the Spring 2014 also shows that around 69% of all hirers use workers on temporary contracts. Interestingly, 83% of public sector clients use contractors, but only 65% of private sector clients do, with this figure dropping to 51% for small to medium sized enterprises. More...
Contractors should see tax returns becoming “as easy as online banking”
Tax returns that are “as easy as online banking” to use and an online business tax dashboard are just two of the initiatives HMRC is introducing as part of its digital strategy. Caroline Baldwin writes in Computer Weekly that HMRC’s chief digital and information officer Mark Dearnley told delegates at the Public Sector Show in London that: “There is no reason why over time we can’t provide the same level of service you get from your online bank now.” More...