Employer Hiring & Pay Intentions Bode Well For Temp Labour Market
Agency workers have good reason to be optimistic about their job prospects in the foreseeable future, as suggested by the latest JobsOutlook report from the Recruitment and Employment Confederation (REC). A large proportion of employers intend to hire more temporary workers in the next three to 12 months, with prospects also looking good for pay.
The figures in the March report are based on a survey of 600 UK employers regarding their recruitment plans. Almost half (48% to be precise) expect to make greater use of temps in the next three months – a number that represents an increase of one point on the preceding month. The same proportion of employers intend to bring in more agency workers within four to 12 months. In this group, the number of employers declaring such intentions has gone up by two points.
Hourly pay rates have registered month-on-month growth since September 2012.
Since the start of this year temporary workers have benefited from a sharp increase in pay rates. According to the latest edition of the REC/KPMG Report on Jobs, hourly pay rates for temps in March recorded their fastest growth in seven months. Hourly pay rates have registered month-on-month growth since September 2012.
With the economy perking up and confidence among employers following suit, the outlook for pay remains positive. The REC found that 28% of employers intend to increase wages this year and 40% are considering a pay rise for their staff. While the economic revival plays a part in the decision, another major factor is the growing skills shortage. Offering attractive pay has become essential for securing highly sought-after professionals, demand being particularly strong for IT specialists and people with managerial experience, the REC noted.