Why is demand for temporary workers increasing and why are so many more candidates being drawn to the temporary job market?

My role changed in January 2023 to focus purely on the recruitment of temporary finance workers across the Yorkshire region. Market indicators were suggesting that this market was on track to take off and the latest reports from the REC have shown just how much this has continued to happen:

• 67% of UK Employers expect temporary recruitment intentions to remain the same or increase over the next year.
• Temporary requirements are rising at the quickest pace in the past six months.
• Candidate availability is up for the first time in two years.
• Although the report covers all disciplines, accountancy & finance is identified as one of the three most in-demand skillsets.

(Sources REC/KPMG Report on Jobs on 11th April and REC Jobs Outlook 29th March)

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Looking at some of our data over the first quarter of 2023 and comparing to Q1 2022

• There has been a 93% increase in the volume of temporary job registrations in finance.
• The volume of finance candidates registering for temporary work has increased by 14%.
• Four of my temporary workers have been in the position where they have received more than one offer of a temporary role at the same time.

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There is a strong demand for finance candidates for temporary roles. The pool of candidates is still not deep enough to meet every demand, but it is deepening. It is a good time to be a recruiter into the interim finance market, a good time to be a candidate and an increasingly better time to be an employer.

I have helped a number of employers with their interim needs, but I have also seen others struggle. If there is one prevailing message to employers it is to “move decisively when as strong candidate is available.”

My colleagues and I have started to see some of the strongest candidates opt for temporary work over permanent options again. This trend seems to have paused over the past few years as the permanent market has been so buoyant and there was such a huge demand for people in permanent roles.

Over the coming weeks, I will be bringing some more of the most relevant data and observations of the interim finance market – looking at the rates, pay structures, working patterns, hot skills and innovations in recruitment. Please let me know if there are any subjects that you would like me to look into for you.