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Demand for contractors grows as investment in IT picks up
Posted May 25, 2010
New research suggests that long term contractor unemployment has dropped by one third, and contractor confidence is growing, as investment in new IT projects gathers pace.
The study, carried out by contractor services provider giant, shows that only 6.8% of contractors are long term contract-less currently, compared to 10.1% six months ago.
At the same time, business investment in IT climbed by 9.2% during the final quarter of 2009, according to Government data.
The poll also suggests that the number of contractors expecting to see a rate rise over the next year has climbed from 61.4% to 65.8% over the past six months, showing that confidence may be returning to the contracting market.
Interestingly, 25.6% of contractors surveyed expect the financial services sector to create the most contract opportunities over the coming year, compared to 22% in the previous survey. Presumably this growth in opportunities will coincide for likely cuts in public sector roles.
Contractors offer lower-risk way of filling IT positions
Matthew Brown, MD of giant, said:
"After cutting back on IT investment for so long, businesses are now kick-starting projects which were stalled during the recession. Many IT Directors shed contractors over the last 18 months, but are now finding themselves dangerously understaffed as project workloads start to pick up.
"Contractors are often the first to be let go in a recession, but they are usually the first back in the door as the economy recovers. IT Directors are still wary about increasing headcounts, so contractors offer a relatively low-risk way of increasing capacity without incurring additional employment-related costs as demand recovers."
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