Tough economic conditions during the recession have seen finance contractors opt for greater job security and cut back on expenditure such as membership fees for professional bodies, research by professional employment provider Giant group suggests.
Its survey, Temporary recruitment market report: what was the impact of the financial crisis?found the numbers of freelance finance staff preferring long term assignments have grown by 13% since 2006.
Over the same period, membership of financial professional bodies including ICAEW, ACCA, CIMA and CIPFA has dropped significantly from 80% pre-recession to just 14% during 2012 and 2013.
Matthew Brown, Giant managing director, said: 'While professionals in this area are in demand, the desire for more job security is still prevalent. The significant drop in membership to trade bodies also presents a slight concern. While it's understandable that individuals are cutting back expenditure themselves, the competitive advantage such a membership has for a contractor shouldn't be underestimated.'