…But fewer opportunities in financial services.
Accountancy and finance contractors expect more job opportunities to arise in the public sector over the next year, according to the latest survey by giant group, the umbrella employment provider.
According to giant, 43% of accountancy and finance contractors expect growth in job opportunities in the public sector, up from 38% surveyed last year.
Matthew Brown, Managing Director of giant says: “The Coalition’s cost cutting plans have created a lot of work for finance teams within the public sector, who are having to manage costs more effectively in order to cut public spending and reduce the deficit.”
“But with budgets still being squeezed, there is considerable pressure to keep permanent staff costs to a minimum. This should create some opportunities for accountancy and finance contractors as a way of delivering the skills needed without breaching limits of permanent staff numbers that have been in place.”
“Experienced contractors are being drafted in to help boost in-house teams, identify savings and manage finances more effectively. They will be relied upon to ensure that public sector bodies are controlling costs and making the most efficient use of their financial resources.”
However while accountancy and finance contractors are optimistic about their opportunities in the public sector, contractors are becoming pessimistic about the job prospects in financial services.
According to giant, just 17% of accountancy and finance contractors expect to see more job opportunities in financial services over the next 12 months, down from 24% last year.
Matthew Brown explains that the decline in opportunities in financial services reflects ongoing challenges in the banking sector, as well as the lingering Eurozone crisis.
Matthew Brown says: “Revenues across all the biggest investment banks have been hit this year, which has had a direct impact on their attitude towards staffing.Â It has also had a knock-on effect on demand from other big users of accountancy and finance contractors in the City.”
In another sign that job prospects in financial services remain subdued, accountancy contractors are increasingly looking for the security of a long term contract, rather than a contract that pays a higher hourly rate.
69% of contractors surveyed said they would prefer a long term contract over higher hourly pay, up from 54% who were asked last year.