June 2026
Ian Knowlson and Tony Hodkinson, COO of PayStream, explored the current state of the recruitment and contractor market, with a particular focus on Joint and Several Liability, umbrella company compliance, PSL consolidation and where growth may be starting to return. Their discussion looked at how JSL has reshaped the umbrella market over the last six months, why many agencies have been reviewing and tightening their preferred supplier lists, and why financial due diligence is now just as important as compliance when choosing umbrella partners.
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They also discussed the wider recruitment market, including signs of renewed activity in technology, engineering, life sciences, construction, defence, renewables and international recruitment. While the market remains cautious, Ian highlighted that job flow appears to be improving and that contract and temporary hiring continue to show more positive signs than permanent recruitment in some areas. Tony also shared PayStream’s perspective on contractor numbers, market consolidation and the ongoing impact of non-compliant umbrella providers.
The session also looked ahead to the strategic opportunities and threats recruitment leaders need to be aware of, including international expansion, the growth potential in overseas markets, and the longer-term impact of AI on recruitment models. It was a highly practical discussion, giving recruitment leaders useful insight into market movement, supply chain risk, emerging growth sectors and the decisions agencies should be considering over the next 6 to 12 months.