The number of available permanent jobs in the UK has decreased by 21 per cent from February to March, with 25 per cent of job seekers withdrawing from the market.
It was revealed that the markets dipped in January, recording a historically poor start to the year, resulting in a watchful and nervous atmosphere for those seeking permanent work throughout Q1.
For contractors, however, this news works in their favour. Suggestions that organisations have been holding off recruiting permanent staff until after the EU referendum result at the end of Q2, stating that many businesses may have to wait for Q3 before hiring activity picks up again.
This means that in the coming months, contractors are likely to see an increase in demand for their specialist skills as businesses turn to their temporary services as a solution while post 'Brexit' uncertainty remains.
Research conducted by PwC for the Confederation of British Industry (CBI) warned that the 'Brexit' result could cost the UK as many as 950,000 jobs, blowing a £100 billion hole in the economy.
Head of Logistics and Associate Director Steve Eston at Precision Search commented on the findings:
"Having spoken to a few of our senior clients, I am sensing that there is a hesitation in senior strategic hiring decisions post Brexit. As a result, a lot of our partners are looking towards interim solutions and professional contractors to solve their short-term hiring needs until firms start to understand how it will affect their business.
Speaking to my professional interim network, there is certainly a lot of activity and a real buzz that lends a lot of credence & weight to the attached findings. As a business, Precision Search are handling an unprecedented amount of interim assignments currently and I can only foresee this trend continuing until after the referendum.
If you need to hire contractors for your logistics business, Precision Search can help. Contact Steve or Richard on 0116 254 54 88 or email hello@precision-people.uk