London's Olympic Games are set to provide job opportunities for contractors, as revealed by a new survey by the Recruitment and Employment Confederation (REC). 31 per cent of companies expect to increase the number of agency workers in the next quarter. This comes as great news for umbrella company contractors whose spirits have been dampened lately due to economic pressures on the temporary jobs market.
Tarpon, a UK-based contractor umbrella company welcomes the findings. “The role agency workers have played in setting up the Olympic facilities and ensuring they are ready on time for the event cannot be underestimated. That businesses appreciate these efforts, and are offering more work is the greatest reward we could have wished for,” said a spokesperson.
A further 28 per cent of companies surveyed said they will look at increasing their reliance on agency workers in the next three to 12 months. This suggests the temporary jobs market is set for long term improvements.
REC researchers believe the London Olympics, set to kick off in less than one month's time, are the long-awaited economic boost both consumers and businesses have been waiting for.
“The expected correlation between the Olympics and market improvements is hard to deny. Major sporting events and cultural celebrations have been known to boost national morale and reinforce consumer confidence in the past,” commented the spokesperson for Tarpon.
The positive forecast is supported by further research from Lloyds Banking Group, who have used the term “Olympic effect” to describe the impact of the Games on the national economy. According to the findings, the tourism and construction sectors are expected to be amongst the greatest beneficiaries.
Umbrella companies are likely to see a rise in demand for contractors with skills and knowledge in these particular industries.
Tarpon are an umbrella company specialising in contractor tax efficiency, enabling contractors to maximise their income and streamline their admin. Tarpon also provide contractors and agencies with professional advice surrounding potential employment law and tax challenges, including IR35 and AWR.
Discover what your take home pay will be with Tarpon by using our online umbrella company calculator. Or speak to one of our experts, by calling 0800 434 6402.
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