In its latest survey giant found that the majority of respondents (41%) were expecting an increase in finance contract opportunities over the next 12 months. As demand for these expert skills intensifies, contractor payment is set to change with 74% expecting to see their earnings grow. Growth predictions across contracting in general appear to be on the horizon as the Recruitment and Employment Confederation has recently reported. In its latest Jobs Outlook the REC revealed 30% of employers plan to increase contractor use over the next 4 12 months.
Despite this predicted growth some respondents noted an air of caution given the length between assignments, with the number of respondents recording gaps of over 61 days remaining on a par with figures from the same period in 2012 (11%).
A breakdown of the contracting opportunities revealed that the public sector is currently recording the highest levels of work with 54% of respondents currently working in this area. Although this is a 5% increase on 2012 figures, those surveyed suggested this is likely to drop back to last years levels over the coming 12 months. This recent spike in project activity can be attributed to the new developments within the sector such as the launch of the Payment by Results (PbR) system within the NHS sector.
Matthew Brown, Managing Director of giant group commented, Its encouraging to note that contractors in the finance sector remain optimistic despite the on-going trend of lengthy gaps between assignments. As we continue to see more positivity in the UK business arena this sentiment will only grow. It would appear, then, that 2014 is set to be a good year for contractors.