Contractors could benefit as more UK graduates decide to emigrate rather than put their degree to use in this country.
It seems that high achievers are finding the lure of well-paid jobs overseas a very attractive opportunity. Whilst this will undoubtedly diminish the pool of highly skilled candidates in the UK, the decreased competition could open up more doors for contractors and freelancers.
According to the Trendence Graduate Barometer, almost a third of our top students are being lured to foreign climes. Top destinations for graduates are the USA, Australia and Canada where lucrative opportunities abound for those looking to leave Britain behind to further their career.
Kathryn Callow, Trendence Graduate Barometer’s UK accounts director, said the UK risks a talent drain. Graduates are continually being told that there are no opportunities available and prospects for the future look bleak. It should therefore come as no surprise that they want to focus their attention on securing a position overseas.
Skilled umbrella contractors and freelancers should be able to use this to their advantage and secure lucrative contracts. They will have fewer people to compete with and as more students move abroad opportunities should abound in the coming months and possibly years.
The UK is already suffering from a shortage of healthcare professionals and engineers and recruiters have reported problems sourcing competent IT personnel for certain key roles. The government has pledged to tackle the skills shortage problem, but until they do, prospects look promising for the contracting community.
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