IES Blog

Temporary workers fuel financial sector

Posted on December 26th, 2012 Read time: 1 minutes

Bringing contract employees into a business is a positive move in all industries across the world.

In Australia, the financial sector has reaped the benefits of hiring temporary employees. According to a recent study by Hays Recruitment, 14.6 percent of contract workers in the country are employed by financial services, reports Money Management.

Survey respondents said advantages of temporary contracts include the ability to gain experience and acquire new contacts.

The results of the study aim to "dispel the perception that temporary workers are only entry-level admin candidates," said Jane McNeill, director of Hays Banking.

Nearly all of contract workers surveyed said they were willing to accept another temporary assignment in the future and roughly 29 percent stated contract work is their first preference when it comes to job searching.

Meanwhile, more than half of employers said bringing in particular expertise for certain projects is an advantage for their businesses.

Meanwhile in the U.S., temporary jobs are very popular among retailers, especially during the holidays. The industry added 465,500 seasonal workers in November, according to outplacement firm Challenger, Gray & Christmas.

The U.S. hadn't seen such high numbers since 2007, and job gains this year were up 21 percent from 2011.

Related Articles