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Three in ten CFOs have increased their use of contractors

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New research from Robert Half has revealed that more Chief Financial Officers (CFOs) have increased their use of flexible workers over the past three years.

The study, which surveyed 200 finance directors / CFOs across the UK, found that three in ten (31%) CFOs have either significantly or somewhat increased their use of interim and temporary staff compared to 2010

The report has suggested that despite regulatory change, organisations across the UK are increasingly reliant on the flexible workforce to carry out business critical processes, with research showing that CFOs across small, medium and large businesses have increased their levels of temporary/interim staff from one in five (18%) departmental employees in 2011, to one in four (26%) more than a year after its launch.

When asked in what areas do the CFOs plan to use interim/temporary resources within the next 12 months, the results show that 24% said general operational accounting, 20% answered IT – financial systems implementation and upgrades, 18% said risk management and 16% said audit, compliance and corporate governance.

Phil Sheridan, Managing Director, Robert Half UK said, “Despite regulatory changes, finance leaders continue to rely on the cost effectiveness that temporary professionals offer an organisation, allowing companies to account for workload peaks and troughs without incurring the fixed cost of a permanent hire.

“With the challenging business environment amidst continued economic uncertainty, some hiring managers are taking advantage of the knowledge and skills that interim professionals can bring to a company’s bottom line.

“By continuing to capitalise on the readily available and highly trained temporary and interim market, businesses can adjust more easily and quickly to workload variations, and bring in specialists with the required experiences to run particular programmes.”

What’s life really like as a contractor? Visit our Life as a Contractor case studies hub for real life stories on working through your own Limited company, taking money out of your Limited company, understanding IR35 and much more. 

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