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Contractors are confident in demand for their skills in 2012

Contractors are confident in demand for their skills in 2012

Contractors are feeling upbeat about the year ahead the results of a new survey undertaken by The Pulse Umbrella Group released today (15 March 2012) show that almost three-quarters (73 per cent) are confident about the demand for their skills in 2012. But only 16 per cent see their fees increasing this year, and over half (53 per cent) would consider reducing their rates to get work if they had to.

The Contractor Confidence Survey shows that the majority of contractors (70 per cent) also expect contract lengths to increase or stay the same in the next twelve months, with just 16 per cent expecting a decrease. Most (54 per cent) see their rates remaining the same, but 30 per cent see them decreasing.

Chris Futcher, Chief Executive of Pulse Umbrella Group, says: “After the economic turbulence of the past few years, we are seeing more optimism in the market as companies again look to contractors to fulfill their specialist requirements.

“However the fact that our survey also shows that over half of contractors would consider reducing their rates shows that they are still taking a pragmatic view of securing work, and most are willing to accept less money if that would be the difference between securing a role or not.”

Asked what they would do if their employer introduced a mid-contract & lsquo;take-it-or-leave-it’ reduction in pay, the majority (55 per cent) would accept it but start looking for their next role and another 30 per cent would immediately seek a new role.

Despite the positive attitude of contractors to 2012, it appears that they are still not completely relaxed about securing further work almost half (44 per cent) feel worried about where their next placement will come from if they finish a contract and don’t have another lined up. But 38 per cent say they do not worry if they don’t have jobs lined up back-to-back, as they enjoy a break and are confident that something else will come up.

When asked how long they could live on their savings after a contract came to an end, 44 per cent said they would have plenty of time to look for work as they’d be able to cope for three months before it became a concern. In contrast, just 10 per cent have no savings and need to keep working without a break to support themselves.

Chris adds: “Contractors seem to be being cautious in their approach, with many saving enough to sustain them should work dry up suddenly. Anecdotally we’re hearing that, as many don’t believe the economy is totally out of the woods yet, they are trying to keep money in reserve should work become more scarce.”

A copy of the Contractor Confidence survey can be downloaded from The Pulse Umbrella Group website at www.pulseumbrella.com &lthttp://www.pulseumbrella.com&gtfrom 15th March

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