Change and transformation bring rich pickings for City contractors following Brexit
Despite widespread speculation about a negative impact on City jobs following our Brexit decision, specialist contractors in the change and transformation arena have never had it so good. That’s according to market analysis by Venquis.
The specialist business transformation recruiter has found that contractors across the financial services sector are hot property as businesses seek to maintain major change projects at a time when, despite market uncertainty, skill shortages in these highly specialised areas are still rife. This analysis is in keeping with latest data from the Association of Professional Staffing Companies (APSCo) which found that contractor vacancies within financial services increased by 8% year-on-year while permanent roles flat-lined.
Digital, regulation and consolidation are main drivers
“Our insurance team has seen a surge in demand for analytic specialists as firms seek to catch up with other sectors in improving and transforming the customer experience by developing more digitalised and agile business models. And as demand intensifies, contractors are commanding lucrative rates. A business analyst in the insurance sector for example, can earn between £400 and £600 per day depending on their level and area of expertise”, commented Sean Anderson, Venquis Insurance Contract Manager.
“Market consolidation is also a major driver of change. We have seen a number of mergers and acquisitions within the insurance sector which means transforming and integrating technology systems and processes – all of which are major projects that need resourcing.”
“The evolving regulatory framework is another area requiring specialist skills and with MIFID II due to take effect in 2018, the only certainty is more change.”
“With the impact of Brexit likely to increase the need for major change projects, it seems that financial services and the gig economy could well go hand in hand! ”
- Students urged to apply for pioneering Cyber Schools Programme - July 26, 2017
- A UK business will spend more than £1m recovering from a data security breach - July 24, 2017
- Firms urged to apply for groundbreaking cyber startup scheme - July 21, 2017
- IT jobs account for one third of all vacancies in London - July 14, 2017
- Airborne Drones on Patrol – the Answer to Public Safety Policing - July 12, 2017
- Three universities to develop £16m 5G test network - July 10, 2017
- Millions are at serious risk of hacking and don’t know it - July 5, 2017
- Permanent vacancies hold strong as demand for contractors dips - July 3, 2017
- DNS based attacks cost businesses more than $2M annually - June 30, 2017
- Honeywell and NASA bring supersonic flight to the masses - June 28, 2017