In a new report by the REC the growth of temporary work has been highlighted stating that a quarter of the UK population are now considering temporary employment. Despite temporary workers making up only 5% of the total employed population, recruitment agencies are placing over one million candidates into temporary positions each day.
It is widely assumed that individuals in temporary roles are forced there due to their inability to secure a permanent job. This is a dangerous assumption as it ignores some of the wider societal dynamics that motivate people into temporary positions.
- 12% of people state that they take on temporary positions as it allows them to earn money faster
- 25% of temporary workers are in their position because of the flexibility that it gives them in terms of caring for family members or pursuing other interests
- 10% of the British population has worked as a contractor at some point in their life
- 66% of these are male and 34% are female
- The 55+ age bracket holds the most experience in temporary work
Though some contractors and freelancers admit that job insecurity can pose a threat, they believe that the uncertainty and unpredictability is a small price to pay given the benefits that they receive such as flexible hours, a working environment that they are happy with and unemployment avoidance.
The report goes on to state that working on a temporary basis is part of many people’s career paths, it provides opportunities for individuals to achieve goals that they have set out for themselves such as greater income, new skills and making time for other priorities within their life. One aspect that did cause an issue with several of the temporary workers taking part in the study was the lack of clarity surrounding their salary and what is accorded as an expense.
At Simplyco we understand that, unless you’re an expert on tax, accounts, payments and contracts, these things can be time consuming and confusing. That is why we are on a mission to make everything more straightforward. We always explain things in simple terms and make sure that everyone pays exactly the right amount of tax. You can use our online calculator to see how much tax you would have to pay under different payment models.
Simplyco are expert contractor accountants and take a keen interest in giving expert advice to contractors, freelancers, interims and locums. If you would like to find out how our services could support you in a temporary role then give us a call on 01900 898 440 or email email@example.com.
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