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Security more attractive than higher pay for finance contractors, research finds

Results from the organisation’s latest survey of finance contractors working in the UK found that 68% of respondents would favour longer projects over increased pay, representing a substantial increase year-on-year. The percentage of contractors who prefer improved rates fell by 7%.

Managing director of giant group, Matthew Brown, commented on the findings, “It’s somewhat surprising to see contractors preferring long term assignments over increased financial gain, however it is understandable. During the global recession many professionals will have been uncertain about their job security. We predict as we move further into recovery, contractors will once again begin to favour financial gain over longer assignments.”

The survey also found that a high percentage of finance contractors (43%) are currently working in the public sector. This could be attributed to year end projects such as statutory accounts and financial returns. The public sector is also increasingly looking to access specialist skills on a short-term or project basis.

Brown continued “It’s certainly encouraging to see so many organisations utilise contractors in order to access the additional specialist expertise they need. With public sector spending under increasing government scrutiny the need for robust accounting procedures and good financial reporting practices has never been more important.”

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