Financial and IT contractors in London should prepare for increased demand
London-based financial and IT contractors look set to benefit from a stream of new contracts as activity in the capital’s financial centre increases. The latest Morgan McKinley London Employment Monitor suggests that April saw a strong desire to move among workers (up 28%), coupled with an increased number of available opportunities (up 14%). As the second largest consumer of IT contractor services, increased activity in the UK financial sector has a strong positive impact on contractor prospects. “We’ve seen increases from every angle; month-on-month, year-on-year for both job opportunities and those seeking new roles,” notes Hakan Enver, operations director of Morgan McKinley Financial Services. More...
Contractors gain further support against government’s “sustained attack”
Contractors will gain greater representation and support against the “sustained attack” by government as the The Freelancer and Contractor Services Association launches an associate programme. The objective is to broaden its representation of the contracting service providers and galvanise the opinions of the industry. Julia Kermode, CEO said: “We have never seen such a sustained attack on the flexible workforce as we have witnessed in the last year.It has become clear that as a fragmented industry we have been unable to make our voice heard. A Conservative led Government does not mean stability…All the indications are suggesting further challenges ahead from across the political parties.”
Digital and big data contractors increasingly in demand to fill widening skills gaps
Contractors with skills in the digital and big data sectors will see demand for their services soar as large companies struggle to keep pace with digital innovation, says the Harvey Nash/KPMG 2015 CIO Survey. The race to innovate has left many organisations lacking a comprehensive digital strategy and the skills to implement it. Despite efforts to recruit, the survey highlights that the skills gap is one-third bigger than in 2013. “Contractors who can acquire the right skills and then target clients and market their digital and big data capabilities effectively can look forward to a strong forward pipeline of lucrative contracts,” said ContractorCalculator CEO Dave Chaplin. More...
Contract market recovers in Scotland, suggesting contractors should stay put
Contractors based in Scotland in the core contracting disciplines of IT & computing, engineering and accounting/financial have a compelling reason to stay in the country as the market starts to pick up. The latest Bank of Scotland Report on Jobs survey shows a sharp decrease in the number of contractors available in April, alongside increased demand, albeit at a slower rate. This follows several months of the Scottish contract market softening. More...
Oil and gas contractors could provide stability as market faces job cuts
Oil and gas contractor prospects for North Sea work are looking positive again as private equity funds, including Riverstone Energy, Carlyle Group and Blackstone, announce plans to invest billions into North Sea assets. Funds are hiring high-profile executive teams to drive costs lower, but there is every chance that global skill shortages will provide opportunities for contractors, both at a strategic and operational level. More...
Contractors fearing penalties gain support from accountants
Contractors concerned about falling foul of HMRC penalties and the tax compliance system are clearly not in the minority, according to comments made by AccountingWEB members in response to the HMRC discussion document on penalties. While it is accepted that penalties should remain for recalcitrant taxpayers, accountants believe that the current system of automatically penalising those who have made a mistake or lack understanding of tax obligations is not “fair” or “in proportion”. More...
Contractors in IT and engineering are sought after, as key skills get harder to find
Contractors with IT & computing and engineering expertise can look forward to increasing demand for their services as the skills shortage worsens and employers look to them to close the gap. The latest JobsOutlook by the Recruitment and Employment Confederation (REC) shows that businesses are increasingly relying on contractors to meet demand and enable business growth. More than eight in ten employers (84%) say they hire contractors to access “key strategic skills”, which is up from the 55% who cited this reason in April 2013. Kevin Green, REC chief executive, explains: “Employers [are] hiring more people on short-term assignments because they can’t find permanent staff with the skills.” More...
Contractors fighting late payments may gain support from a new Conciliation Service
Contractors could be seeing the end of their monthly battles with clients to get paid on time. The government intends to create a Small Business Conciliation Service, as part of a new Enterprise Bill to tackle the problem of late payment. Chris Bryce, chief executive of the Association of Independent Professionals and the Self Employed (IPSE), welcomed the news: “Late payment is a crippling issue for the self-employed who need to be paid on time to keep their business afloat. A newly established Conciliation Service could play a key role in making sure the smallest businesses have somewhere to turn when they are being paid late and could help deliver a better payment culture where small and large businesses work more harmoniously together.” More...
Contracting in oil and gas to boom as industry moves towards flexible workforce
Contractors in the oil and gas sector can look forward to increasing demand for their services as the industry engages in financial restructuring in the face of a prolonged drop in the global oil price. The Grant Thornton UK LLP report, which is based on a survey of senior oil and gas executives, found that this is forcing companies to reassess and reshape their operations dramatically. “Despite demand remaining buoyant over the past year, oil prices have been on a rollercoaster of volatility which the industry hasn't seen for decades. This has forced many oil and gas companies into a new mindset,” said Linda Beal, global leader for the energy and resources industry at Grant Thornton UK LLP. Beal goes on to say that “agility is proving the key to success” and warns executives “to keep all options open with a more flexible workforce that can readily scale up or down and is even more able to move internationally than has been the case until now.”More...
Contractors thrive as silver bullet to talent shortage yet to be found
Contractors can look forward to a secure future with sustainable demand for their services as the global talent shortage continues, with no solution to the problem yet to be found. The ManpowerGroup’s The Talent Shortage Continues Survey found that of the 37,000 employers in 42 countries interviewed in the first quarter of 2014, 36% on average report difficulty in filling jobs; the highest proportion in seven years. The survey concludes that a different way of working is required: as tasks become more segmented, they will be distributed to many and will increasingly be performed by contractors. Fulltime permanent employment is no longer “the best fit”, the survey claims. More...