Across the UK, contractors and temporary staff are receiving notably higher pay rates. The REC disclosed that the steepest inflation in contractor pay rates recorded was in London. However, across the board, wages were continuing to rise, extending this trend to 62 months.
Contractor pay rates accelerating at an exceptional rate
REC director of policy Tom Hadley commented on this rise suggesting:
“Employers are increasing starting pay to draw candidates away from current roles into new positions. Growth in pay for temporary roles especially is accelerating”
With the growth in contractor pay rates, those planning to move jobs have a better chance of negotiating higher rates. According to the REC, agencies are attributing higher pay to the hastening decline of temporary staff availability and the continued growth in vacancies. The consequent demand for skilled contractors has resulted in employers’ willingness to increase starting rates.
Outlook of temporary staff placements positive
Although, some recruiters did acknowledge that a rise in preference for permanent staff had caused a slight softening in temporary staff placements. Nonetheless, the labour market is still very much favourable for temporary employees. Skilled jobseekers are in a strong position to negotiate better pay and benefits in both the public and private sectors. Both sectors are experiencing steep increases in job vacancies and staff demand, which is good news for contractors looking for work.
In terms of temporary placements, Scotland recorded the sharpest rise in temp billings while growth was also sharp across the Midlands and the South of England. In London and the North of England, placements rates were a little more modest but still significant.
IT contractor skills in highest demand
Due to the booming financial services industry, ContractorUK reported that IT contractor skills highly in demand at the end of the first quarter were:
- Business Analysts
- Big Data Specialists
- Infrastructure Engineers
- Mobile Specialists
- Web Developers
- User Experience Specialists
These particular skills are highly pursued due to more firms aiming to maximise on the data they capture. Infrastructure Engineers are required to design and develop a solution that enables data to be captured and analysed. Big Data specialists can then support the business by assessing and harnessing relevant data collated which would be advantageous to the business. Following this Business Analysts are needed to use the information gathered to effectively rework the business processes and operations to get ahead of the competition.
Additionally, following changes to Google’s algorithms, mobile-friendly websites have become a priority for businesses. As a result, experts in this field including Mobile specialists, Web developers and User Experience specialists are highly in demand.
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