PAYE umbrella contractors with a keen eye on future assignments will be heartened to hear that the interim and temporary market is performing surprisingly well despite the parlous state of the economy.
This is the verdict of the latest quarterly survey from the Venn Group. Although hiring levels have fallen back slightly in Q2, the 4% decrease is largely attributable to the unusually sharp 33% rise in hiring activity in Q1. Hiring levels now are 14% higher than they were in the last quarter of 2011.
Surprisingly, contractors working through umbrella companies have seen demand surge in the public sector, particularly in the NHS. As the transition from Primary Care Trusts to Clinical Commissioning Groups gathers momentum, contractors with expertise in the IT skills market and finance especially have been drafted in to ensure front line services continue to function smoothly. There has been an 8.6% rise in temporary and interim roles in the NHS in London alone.
Moreover, temporary roles in the financial sector rose by 6.9% in Q2. Experienced professional interims are being recruited to fulfil key functions, notably asset management, compliance and regulation. The Commerce and Industry sector has also seen a healthy rise in temporary recruitment.
Venn Group director Robert Bowyer said: “Whilst there is no doubt that the employment market is experiencing turbulent times, in the second quarter of 2012 the temporary market appears to be faring very well. On the whole businesses are spending more on recruitment than last year as they increasing rely on contract staff in today’s economically unpredictable market in a bid to cut their permanent headcount costs.”