A LEADING UK umbrella company, Tarpon, recently commented on the temporary boost that the 2012 Olympic Games would provide to both the UK temporary employment market and the UK economy. It’s no surprise that expectations were high – even before the games kicked off.
The lasting effect, otherwise know as the ‘Olympic legacy’, was confirmed by the latest report from the Recruitment and Employment Confederation (REC), which concluded that many companies were looking at increasing their reliance on agency workers in the next three-to-12 months, therefore suggesting the temporary employment market is set for a long-term boost.
Further confirmation of the boost within the temporary employment market has been provided by the latest quarterly survey from the Venn Group, who specialise in professional temporary recruitment. The findings of the survey concluded that there will be even more demand for contractors throughout the UK, helping provide clarity for all UK PAYE umbrella company contractors, who may be expecting the worst, because of the current economic climate.
The quarterly survey concluded that although hiring levels have seen a slight reduction during Q2, this was a result of the sharp rise of 33 per cent in hiring activity throughout Q1. Compared to last year, hiring levels have increased by 14 per cent.
The Director of Venn Group, Robert Bowyer, commented on the findings:
“Whilst there is no doubt that the employment market is experiencing turbulent times, in the second quarter of 2012 the temporary market appears to be faring very well. On the whole businesses are spending more on recruitment than last year…”
It was also noted that contractors working through umbrella companies have seen a extra demand within the public sector. Tarpon believe that the market for temporary contractors will continue to go from strength to strength. A spokesperson from Tarpon commented:
“The survey helped display that several regions are doing very well, and also a wide range of industries are increasing their hiring levels – all of which may have carried on from the Olympic buzz. We believe the Olympics will leave a lasting legacy that umbrella company contractors are sure to benefit from.”
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.
Tarpon UK Ltd,
Wigmore Park Centre,
tel: 0800 434 6402