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The economic downturn has led to a more crowded contracting space, according to professional employment provider, giant group. In its report, ‘Temporary recruitment market report: what was the impact of the financial crisis?’ giant group found that the economic crisis has led to increased demand for skilled temporary workers to fill gaps created by headcount reductions.
In line with this demand, the survey of contractors between 2006 and 2013 also highlighted an increasingly crowded market. As unemployment rose, this temporary route to employment became a key option for many candidates. This is evident in the rise in gaps between assignments despite increasing opportunities.
The results also indicate a growing trend post-recession in contractors seeking more job security and longer term assignments. Levels of those looking for security, work life balance and the chance to develop skills are increasing across the board.
Matthew Brown, Managing Director of giant, commented on the report: “Overall the picture has remained fairly positive for the contracting community. For individuals, the results of our survey suggest that now is the time to make sure your personal brand is competitive to ensure you stand out in a crowded marketplace. For businesses, if having top contractors working on specialist assignments helped weather the storm of the recession, it’s time to look at how they can now help your business grow and thrive.”
“For recruitment agencies, this new business environment has led to an increased demand from clients for skilled interim specialists, resulting in an ever-growing contractor database. In turn, this has caused a rise in competition to get the best talent on the books, not to mention the subsequent administration time associated with this workforce,” he concluded.