Crying out for temps

Thu 2 Aug 2007

Crying out for temps

Do permanent headcount increases spell a dip in demand for temps? Far from it, say recruiters.

Interest in temporary and contract workers is soaring: "Availability of permanent candidates can't keep pace with demand," says Steve Forro of Indigo City, "but the expense of employing temporaries means there's a constant push to get everyone signed up to the payroll."

The most attractive contractors are those with a) specific skill-sets and b) prior experience: "If a bank's going to pay over the odds for a temporary accountant, they won't expect to have to hold their hands," warns Forro. "If they want someone with knowledge of a regulatory framework – such as Sarbanes-Oxley – they'll demand sufficient confidence and experience to hit the ground running with minimum input."

Right now, demand is high at all levels, says Paul Baker, general manager of finance recruiters Poolia. "Project accountants, project managers, product controllers and core finance managers are all being called for," he says. "Traditionally, high staff turnover levels have held up requirements for more junior accountants and back-office finance staff for essential business support roles."

Paternity leave and sabbaticals mean contract accountants are likely to remain a feature of the landscape for the foreseeable future. "There will always be accountancy or change-based projects requiring a flexible workforce to enable companies to deliver within specified timeframes," says Baker.

Small contract, big pay

If you fit the bill, working in banking on a contract basis can be a lucrative option.

"Qualified accountants are taking home £350 to £450 a day," Baker adds. "It isn't always easy to get a temporary to move into a permanent role – as a contractor, they can earn as much as 30% more."

Quoted from eFinancial News 18/06/2007

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