Oil and gas contractors could benefit from ‘Efficiency Task Force’
Contractors in the oil and gas sector could be set to benefit from improved prospects following Oil & Gas UK’s announcement that it is launching an Efficiency Task Force (ETF). The new group will aim to drive improvements that will make the sector more competitive and support the drive to maximise economic recovery. This drive for greater efficiency points towards the use of contractors as a more cost effective solution to employees, as ContractorCalculator CEO Dave Chaplin explains: “Logically, contractors should be benefitting from this new initiative. As we know, contractors provide access to scarce and niche skills without the cost and risk burden associated with employing permanent staff.” More...
Contractors in the construction sector enjoy strong levels of expansion
Contractors experienced varying fortunes throughout August 2015, as the Purchasing Managers’ Indexes (PMIs) from Markit and the Chartered Institute of Purchasing and Supply (CIPS) show strong expansion in the construction sector exceeded the modest performances from the manufacturing and services sectors:
- Staffing levels dropped slightly during August, following a 25-month sequence of job creation, reports the UK Manufacturing PMI, although SMEs reported an increased headcount. Production increased at a modest rate, as companies scaled up to meet business largely driven by domestic demand.
- The UK Construction PMI reports that the industry enjoyed strong levels of expansion with regards to employment levels and business activity in August, stretching the current period of staff expansion in the sector to 27 successive months. Meanwhile, 53% of respondents anticipate a further rise in activity over the next 12 months. The sector “maintained its position as a strong engine of job creation in August”.
- While it continued its 32 month growth sequence, the UK Services PMI recorded the weakest rate of business activity expansion in the sector since May 2013. Despite this, signs of improvement were evident as firms raised headcounts at a faster rate than the recent low witnessed in July, although it remained slower than those recorded at the beginning of the year.
Oil and gas contractor rates growth continues, despite oil price slump
Salary increases for contractors in the oil and gas sector continued to grow in 2015, albeit at a slower rate than that witnessed the previous year. This is according to the Oil and Gas Salary Survey 2015 by recruiters Nigel Wright, who are not surprisingly attributing the slowing growth rate to the global oil price slump. On average, fees increased by 2.3% in 2015, compared to a rise of 5.5% the year before. The majority of contractors actually said they were happy with these rises, with 20% claiming to be satisfied and 37% moderately satisfied with their current rates. More...
Contractor market in Netherlands continues strong growth
Contractors in core technical contracting disciplines seeking overseas contracts should consider looking towards the Netherlands for opportunities after the Dutch Federation of Employment Agencies (ABU) recorded a significant increase in contractor hours, year-on-year. Staffing Industry Analysts reports that the ABU confirmed a 9% increase in hours worked by contractors through July and August, compared to the same period in 2014. This was led by a 23% increase in the technical sector and led to an overall year-on-year 10% rise in sales across all sectors. More...
Contractors concerned over pensions, shows IPSE survey
A recent survey by the Association of Independent Professionals and the Self Employed (IPSE) shows that more than half (54%) of contractors are concerned about their finances post-retirement. IPSE’s study shows that 37% are unable to contribute towards a pension fund while 9% are unsure of how to save for retirement. “This survey shows the difficulties the self-employed face when planning for their future. We know this isn’t easy, and those working for themselves have tough decisions to make about their pensions and future financial situation,” notes IPSE Chief Executive Chris Bryce. More...
Engineering contractors subject of ‘war for talent’ in France
Engineering contractors looking for opportunities to contract abroad should consider France as a potential work destination. This follows a report that shows demand for niche engineering skills in France are in high demand, according to Staffing Industry Analysts. The report, published by Expectra, claims that the Paris region of France has witnessed a 2% year-on-year pay increase for engineers, due to what Expectra CEO Christophe Bougeard described as a: “War for talent forcing companies to offer significant increases despite the precautionary context.” The survey was based on actual pay records from nearly 69,000 engineering workers. More...
Contractors the key to growth in the capital, shows CBI/Pearson survey
Contractors could be the solution to sustaining future market growth in London, after businesses expressed concern over the current shortage of skilled candidates. This is according to the 2015 CBI/Pearson Education and Skills Survey, which found that 48% of businesses aren’t confident that they will be able to source qualified candidates, despite 66% of firms’ currently requiring workers. Core contracting sectors such as engineering, construction and manufacturing are all suffering severe shortages of skilled workers. “Local growth risks being undermined by a shortage of the higher-level skills businesses need to get on, and the situation is only going to get worse,” warns CBI London Director Lucy Haynes. More...