In our latest Contractor Insights Survey, we highlight to what degree limited company and umbrella company contractors value the service they receive from their recruitment agency.
The Contractor Insights Survey was carried out to determine how temporary workers feel about their current roles and future prospects. Understanding how highly contractors regard recruitment agencies was one of the areas we focused on to determine how they are performing according to their contractors.
We asked our contractors what channels they chose when seeking a new contract, the majority of respondents (75%) chose recruitment agencies.
The second most popular choice from respondents was job boards with 46% of contractors, with 45% turning to contacts within their industry and 35% jumping online.
So what is it that makes recruitment agencies the go to option for so many contractors?
From the 1,600 contractors that were surveyed, 73% regarded previous encounters with recruiters in a positive light. It was noted that the professional manner that contractors were dealt with by recruitment agencies was a highly valued part of the service.
Agencies that delivered a seamless end to end process was also a highly valued aspect of the service as identified by participants.
Conversely, our survey also highlighted areas for agencies to improve upon. Of which 27% of respondents highlighted key aspects such as not feeling that their consultant communicated with them enough and that they were not given enough support after they were placed into the contract.
For the most part, contractors reported that their experience with recruitment agencies had been efficient with 57% saying that it took them less than one month to find their role.
This was dependant on sector however, with 17% of Construction contractors having a six month or more gap before securing their next placement.
Digging a little deeper...
Our survey also took a closer look into the relationships between contractors and their recruitment consultants.
The findings of this pinpointed that for the most part, temporary workers believed it was 'very important' to have a close relationship with their personal contact at the agency.
Taking this into account, we wanted to find out what top three qualities contractors desired from a consultant. The results of which highlighted that the three qualities were trust, efficiency and experience.
Although a strong relationship is highly valued by contractors, when asked 'what would they do if their consultant was to leave', 65% of those surveyed claimed that they would remain with their agency.
Nevertheless, 35% of our respondents said that even though they would stick with their agency, they would also register with other agencies to broaden their options.
This outlook appears to be more typical in older participants, with temporary workers aged 65 and over more likely to value long-term relationships with consultants. Contractors for every other age group tended to position this need in fifth place.
How can PayStream help your agency?
We work closely with many agencies and provide umbrella and accountancy services to their contractors, helping them to deal with their clients more efficiently and effectively.
If you'd like to know more of the insights that our survey uncovered please get in touch with one of the PayStream team today.