Is The UK’s Lack Of Skills An Opportunity For Contractors?

Is The UK’s Lack Of Skills An Opportunity For Contractors?

23 April 2015

Amongst all the good news and continued belief in the buoyancy of the UK’s economic performance, an elephant has been lurking somewhat awkwardly in the room: an acute lack of skills.

Rough estimates proffer that the Construction industry requires over 44,000 new entrants to the sector to keep pace with demand and to regenerate an ageing workforce. The UK also needs to be bringing thousands more engineers to the workplace than it is currently doing. To put it bluntly, there aren’t enough skilled personnel coming into the workplace across UK industry.

So where does this leave contractors? According to Umbrella.co.uk’s Dexter Dyer, it leaves well-placed to pick up great job opportunities – and increased pay rates: “A recent KPMG report into the UK job market showed that March 2015 was a very month for recruiters and businesses seeking skilled employees. The drain on skills was so acute, that many roles could not be filled.”

“Putting to one-side the fact that a skills shortage isn’t a strong long-term position for UK PLC, there is a short-term upside for contractors. Demand for talent outstrips supply, and more companies than ever are dipping into the contracting community to find the quality help they need.”

“Even people in permanent positions are evaluating the possibilities offered by freelancing. IT, Engineering, Construction, even Marketing and Finance: all are industry sectors that need the steadying hand of proven contractors to help them continue to prosper as the UK economy carries on growing.”

“One of the main reasons to consider contractor-side work is the higher remuneration on offer. There are extended contracts being offered as companies seek to retain staff, so there is a higher-level of security on offer. Additionally, the rates of pay continue to increase and far outstrip the rewards of permanent roles, even for many experience staff.”