While the rest of the economy is reeling from the effects of the recession, the contract worker sector has actually been expanding, according to the most recent industry study.
One of the largest contractor industry bodies recently reported that there’s been a 12 per cent jump in the number of contract workers operating in the UK, either as a freelance contractor or working through an umbrella service company. Around one out of very three businesses in the UK have turned to interim working solutions and umbrella company contractors for shorter-term projects, the survey also found.
It just goes to show that life goes on, even in a recession. Yes, businesses are absolutely terrified to take on new permanent workers because of the affect it will have on their bottom line, but projects still need to be completed if the firm wants stay in business – so the best solution is to make use of contract workers due to their flexible nature.
This pleases freelancers just fine, as we’re just looking for a way to keep busy in an environment that is challenging enough as it is. Many freelancers have actually made the transition from permanent working after facing a redundancy or job loss triggered by the economy, pleasantly surprised to find they are actually more in demand than they were when they were just one of many cogs in the machine of a single business.
There are of course downsides to being a contract worker, the biggest one being that you’ve got to hustle to find a new project after your last one ends. Other issues, like handling PAYE, are streamlined through working through an umbrella company, which handles all the difficult bits when it comes to employment law – a fact that makes them a popular choice for many contract workers.
