The Office for National Statistics released the data for the first quarter of 2022. It indicates the number of temporary workers who do not want a permanent job has reached an all-time high of 479,242
There is no denying that the world of work is changing, and it’s no wonder that more and more people are choosing to work as temporary workers.
Recruitment agencies and new technology help contractors avoid the hassle of finding a new job every time their contract runs out, and they don’t have to worry about being stuck in a dead-end job.
ONS data for Q1 2022 source
The number of people who don’t want a permanent job has reached an all-time high for a number of reasons. A number of world-wide universal factors have driven the growth in temporary work. A recent study by Harvard University’s Joint Center for Housing Studies found that these include the increasing use of contingent workers by employers and the growth of the gig economy in the post-pandemic world.
The study also found that this growing trend in temporary work has been driven by a desire for more flexibility and better pay. On a personal level, most workers have experienced the hybrid working reality and they realise that their work can be done remotely. Also, it is common knowledge that contracting pays more than permanent jobs. The current market is flooded with vacancies, so the risk of not finding a new contract is reduced to a minimum. When we combine these facts with the rising cost of living, it is no surprise a lot of workers make a decision to switch to become temporary workers.
The recruitment market is benefiting from the trend of more people wanting temporary work over permanent work. Umbrella companies and temporary recruitment agencies are seeing more revenue as a result of this shift, as businesses are increasingly turning to temporary workers to fill positions rather than hiring employees permanently.
The trend of more people wanting temporary work over permanent work is likely to have a positive impact on the UK economy in the future. This is because it will lead to increased flexibility and better wages for workers, which will boost economic growth. Additionally, it will help businesses to be more agile and adaptable in the face of changing economic conditions.
While there are strong benefits to this trend, such as the ability to easily find work and the flexibility that temporary work can offer, there are also some downsides. One of the biggest concerns is that many people who work on a temporary basis do not have the same job security or benefits as those in permanent positions. This can make it difficult to plan for the future and can lead to financial insecurity. Additionally, temporary workers may find it difficult to advance in their careers or move up the ladder, as they are not seen as committed to the company. Despite these concerns, the number of people choosing temporary work over permanent work continues to grow, indicating that the benefits outweigh the drawbacks for many workers.
The number of people who don’t want a permanent job has reached an all-time high, and this is likely to have a positive impact on the UK economy in the future. Employers want to hire more contractors to minimise cost and risks, workers want more flexibility, better pay and life-work balance. Since, ultimately, this benefits both businesses and workers alike, we can expect that this trend will continue to grow. If the economic landscape doesn’t take another unexpected turn in the coming years, it will dictate how the employment market evolves.