Spring 2022 Pulse Survey results
The latest Pulse survey carried out by ITI shows that positivity towards the business environment finally returns to pre-pandemic levels.
ITI’s most recent issue of its twice-yearly survey of members reveals that 58% of respondents are now either ‘very positive’ or ‘positive’ about their work and prospects in the current business environment. This compares with 53% in the previous survey in autumn 2021. Positivity is now the highest it has been since before the effects of the pandemic began to hit over two years ago when the figure dropped to an all-time low of 28%.
That said, there may still be difficult times ahead, with UK inflation predicted to peak at around 8% later this spring1. 44% of freelancers who responded are already planning for these effects, having either already increased their rates in the last 3 months or planning to do so within the next 6 months. Those respondents who work solely as translators are at this stage least likely to be planning an increase – 40% compared to 54% of interpreters and 66% of those working as both translators and interpreters.
59% of freelance respondents reported that earnings per word/hour/contract had stayed the same (the same as in the autumn survey). However, the number who reported an improvement in earnings rose to 25%, versus 20% last autumn, indicating that those who have already increased rates are seeing this flow through to earnings.
66% of respondents reported that they had gained business from new clients in the last 12 months, the same figure as previously. However, the number not needing or wishing to gain new clients rose to 10% (versus 7% in the autumn survey). This figure comprised entirely of translators and did not include any interpreters.
Most respondents (47%) reported that the amount of work they have had from existing clients had stayed the same over the last 12 months, with only 17% saying it had increased (20% previously), and 36% saying it had decreased (38%) previously.
As the world opens up once more and face-to-face events are back on the agenda, it is clear that there is an appetite to get back into the real world. 41% of all respondents indicated that they plan to get to an in-person training event in the coming 12 months.