Can contractors solve productivity puzzle?

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Britain’s faltering productivity is a “major risk” that could derail the country’s economic recovery, a new study has warned.

Accountancy firm BDO reveals that the level of workers’ output per hour has not budged since 2007, a situation that has baffled economists and politicians alike. Indeed, analysts claim the problem is “unique among advanced economies”.

Peter Hemington, a partner at BDO, said: “Productivity ultimately determines our prosperity so it is a crucial area that must be addressed.” He called on policymakers of all persuasions to work together to solve the problem.

The productivity puzzle could provide a wealth of opportunity for contractors who are perfectly poised to deliver projects on time and on budget. Freelancers are also able to provide businesses with short-term access to key skills, ensuring firms remain flexible and competitive at all times.

Meanwhile, BDO’s study found that the hiring intentions of UK employers have reached “sky-high levels”, perhaps further boosting assignment opportunities for contractors. Recruitment activity is now said to be stronger than during the mid-2000s, a situation that shows no sign of abating anytime soon.

Business confidence is also on the rise, with optimism levels remaining well above the 100 mark that signifies long-term growth.

Have your say

Are you a contractor? Have you noticed an increase in demand for your services? Do you expect this trend to continue? What would you do to resolve the productivity crisis? Join in the discussion on Twitter, or leave a comment below.