Since the economic downturn in 2008, we have seen the dramatic impact it has had on businesses throughout the UK; with a shift in the way management choose to operate their organisation. The continual cuts taking place within businesses over the last 6 years, has seen a knock on effect on the workers and job opportunities. But are these changes Good or Bad? From a recent survey carried out within the IT sector, by Randstad Technologies, figures show that a third of IT professionals within the UK have seen the IT sector change since the recession hit, with one in four, claiming that the changes that have taken place are actually positive. The Health Care sector has differed from other sectors during the recession, with the need for contractors remaining stable throughout the financial setback, with opportunities for contractors remaining afloat. There has been much activity during the recession involving the Education sector. We have seen cutbacks in areas such as pensions and salaries. With permanent staff leaving their positions, there then becomes a demand for more skilled temporary contractors to fill these roles. The demand for skilled workers has been reflected in the increase of hourly rates for contractors within the Education sector. Due to business cuts a strong shift towards agency work has taken place, leading to an influx of contractors being drawn to temporary work. This however leads to longer gaps in-between assignments, with so many people competing for the same role. Despite this, things seem to be stabilising and from recent studies it seems things are on the up with contractors holding confidence in their future within the contracting market. Companies that have used contractors understand the need for skilled workers within roles and the importance of continuing to sustain the skilled interim specialists to help develop and build their organisations. This is great news for recruiters, who have seen an increase in the need for skilled contractors. With this growing influx of contractors the pressure is on the recruiters with additional administration, legal and payroll work to undertake for each contractor. However with the right support and ensuring everything set up correctly this will be a positive step for the recruitment industry. Recruiter Agencies, that pay their contractors through Umbrella Companies such as ePayMe, can offer the contractor permanent employment (Overarching Contract) to enable the contractor to move from one assignment to another. This allows the contractor to gain some benefits that are offered to permanent employees, providing a secure, reliable payroll solution with the knowledge that their contractors are fully insured through the umbrella company. The economic turbulence we have experienced has had an impact across the sectors, though there have been some room for contractors to fill the vacancies open to temporary staff through cuts, it is the attitude of the businesses and the confidence they hold in the market that is going to make any positive changes. As the economy stabilises and begins to grow, we will continue to see more opportunities for contractors, with strong skill sets to develop and grow within companies. The ‘contracting field’ seems to be shifting towards its former glory, prior to the recession. With specialists more confident in pay and the growing job opportunities, there seems to be less enthesitis on long-term assignments, with confidence in the capability of the employment market. ePayMe – t: 0800 622 6119 e: info@epayme.co.uk w: www.epayme.co.uk