Contractor news: over three quarters want to work abroad
Published by Elizabeth Corner,
Senior Editor
Hydrocarbon Engineering,
Over three quarters (77%) of all contractors would like to work in abroad, reveals a new survey carried out by Procorre, an international professional services consultancy that operates in all business sectors across 100 countries.
Most are attracted by the possibility of the higher take home pay – often due to lower taxes – and the prospects of a better work life balance. However, many are deterred by the bureaucracy involved, such as obtaining work permits and dealing with the tax authorities, as well as the security risks.
Top three reasons for wanting to move abroad
The top three reasons given why contractors would like to work abroad are:
- A higher take home pay (post-tax) (55% of contractors said that this was a reason for wanting to move abroad).
- A better work life balance (52% of contractors said that this was a reason for wanting to move abroad).
- To experience working and living abroad (44% of contractors said that this was reason for wanting to move abroad).
Higher take home pay (post-tax) can be the result of higher salaries for working in remote or dangerous locations, or when there is a particular skills shortage within the country and talented contractors are in high demand. It can also be due to lower tax in certain countries, says Procorre.
Lisa Mangan, Relationship Manager at Procorre, comments: “Tax benefits and higher salaries are a real temptation for contractors that are considering working abroad. For those willing to make the move there are some highly rewarded opportunities abroad.”
“However, the attractive benefits packages and greater take home pay are often there to entice contractors to remote or even dangerous locations.”
Top three concerns about working abroad
The top three concerns about working abroad are:
- Security risks (52% of contractors said that this was a concern about working abroad).
- Family don’t want to relocate (30% of contractors said that this was a concern about working abroad).
- Don’t want to leave family and friends behind (27% of contractors said that this was a concern about working abroad).
“Relocating to dangerous areas can be a troubling prospect,” explains Lisa Mangan.
“Many employers will help the contractor with personal security for themselves and their family. But some of the contractors we advise often need help negotiating with their employer over personal security arrangements.”
Top three biggest problems faced by contractors moving abroad
The top three biggest problems faced by contractors moving abroad were:
- Obtaining a work permit (49% of contractors said that this was a problem when moving abroad).
- Dealing with tax authorities (45% of contractors said that this was a problem when moving abroad).
- Understanding the expenses system (40% of contractors said that this was a problem when moving abroad).
“There is a lot of paperwork and preparation that contractors have to complete before moving abroad,” says Lisa Mangan of Procorre.
“Organisations like ours free them up to focus on moving from one contract to another with as little stress and spare time used up as possible.”
Edited from source by Elizabeth Corner
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/01092014/contractor-news-over-three-quarters-want-to-work-abroad/
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