The Professional Contractors Group has confirmed that pay rates for freelancers and umbrella company contractors are on the increase.
Truth be told the writing has been on the wall for a while now concerning the way self-employed Brits are being paid. However, the new PCG survey, which examined the relative confidence within the freelancing community, put any speculation to bed after it was found that temporary and interim workers are experiencing rising pay rates even as permanent employees haven’t seen a pay increase in some time.
It’s really not rocket science when it comes down to the impetus behind the recent change. While employers are finding it absolutely impossible to find permanent workers that have the requisite skills and experience to fill most of the most needed and crucial roles, British freelancers and contract workers are in high demand for a plethora of vacancies. There’s simply not enough temporary workers to go around in order to satisfy the needs of all these British businesses, so firms have begun to provide highly competitive pay packets to sweeten the pot.
This of course makes it a bloody fantastic time to be a contract worker, at least for the time being. Yes, the skills shortage – if left unchecked for a long period of time – will result in the nation’s freelancers becoming exhausted by trying to be all things for a whole crop of British firms that are afraid of being left behind by being unable to compete in the economic recovery. There’s a very serious possibility there. However, there are some projects and programmes being instituted by both trade industry bodies and the Government itself that could eventually stem the tide of the skills shortage. These programmes are focusing on providing more apprenticeship and graduate level positions, especially in the STEM sectors where the most trouble has been lately, and if these projects are successful it could easily halt the rising tide of the talent gap and provide better long-term stability to the employment market.
In other words, freelancers and umbrella company contractors are always going to be a popular choice for British employers. However, right now they’re particularly attractive, so don’t feel afraid to strike whilst the iron is hot!