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Contractor rates up 20% "across the board" but pay gaps widen

Employers are increasing contractor rates by 20% across the board to secure talent; meanwhile there's been a dramatic increase in the proportion of contractors converting to permanent, new research shows.

Contingent workforce management and payroll provider CXC Global's second Contingent Workforce Salary Benchmark Report provides an overview of current contractor pay rates in Australia, while examining sentiment, turnover trends, health and wellbeing, and diversity statistics among contractors.

"It's more important than ever to fully understand contingent workers as an emerging segment of the workforce," says CXC corporate service director Darren Morris.

He suggests contractors make up a third of the Australian workforce, yet are often considered an 'afterthought' when compared to their permanent counterparts.

"Now that Australian businesses are regaining some semblance of normality, it's essential they use data and insights to gain a competitive advantage, if they want to thrive in this tumultuous world of work," Morris says...