The June 2015 London Recruitment Index registered a 6 percent month-on-month increase in job availability, with 6,522 vacancies, compared to 6,179 recorded in May 2015.
Much of this activity can be attributed to opportunities within the private sector as businesses bring on board senior talent on a project basis to facilitate future growth. There has been particular demand for contractors to fill technology and digital roles as businesses invest in ‘future-proof’ systems and tools to aid efficiency, productivity, and stakeholder communications.
This activity is in line with wider market confidence, with official figures showing that the UK economy is growing faster than projected, and the GfK/KPMG consumer confidence index reporting levels not seen since the 1990s. This demand is mirrored in the rates that these professionals are currently commanding; developers with experience in PHP programming are earning up to £350 a day, and IT Service Managers making in excess of £600 a day.
Jodie Finn Associate Director of Venn Group, commented: “Activity across commerce and industry remains high post-election, but June saw particular demand for senior IT specialists to implement systems fit to manage future growth. There has specifically been demand for IT service managers with solid experience in managing design, implementation and integration, and this is reflected in the rates that these professionals can command.”
“There was also an increase in demand for digital designers and online content editors to oversee projects to improve online visibility, user experience and engagement. Professionals with particular experience in working cross-platform are highly sought after to implement a ‘joined-up’ online presence as companies continue to recognise and respond to changing user expectations. Contractors working in this area are currently commanding in excess of £190 per day.”
Public sector opportunities up two percent as Trusts invest in procurement
Demand for contract professionals within the public sector rose by 2 percent in June as Trusts and Clinical Commissioning Groups brought in financial contractors in efforts to meet government efficiency saving targets. The current focus of discrepancies in the cost of procurement within the health service has created extra demand for finance professionals to work within individual Trusts. Finance managers and administrators, accountants, and procurement consultants are being drafted in on a contract basis to analyse current spending patterns and make the necessary efficiencies.
Finn continues: “Recent reports that a box of toilet rolls will cost one hospital in the NHS £66 – and a different hospital £30, highlight the fact that there is much room for improvement in terms of efficiency within the NHS. Trusts are wisely responding to this situation by bringing on board procurement experts short-term who can quickly review current spending levels, and subsequently slash overheads long-term.” There was an overall average rate increase for contractors securing new assignments in June 2015 of 4 percent with professionals now earning an average day rate of £278. This exceeds UK average figures released by the Office of National Statistics, which show that salaries increased by 2.7 percent in the three months to April.
