Job stability rated as more important than higher pay
Even though they are faring better in terms of long-term employment prospects, more IT contractors now prefer a long-term contract to higher per hour pay than five years ago, according to giant‘s research.
At the end of 2003 56% of IT contractors preferred a long-term contract to higher per hour pay.
That figure is now 62%.
Says Matthew Brown: ‘Recent research suggests that IT spending is unlikely to be as negatively impacted by the downturn as spending in other business areas, but with rates in some sectors having been cut, contractors are clearly still concerned about job security and whether we are at the bottom or the market still has some way to fall.’
This downturn hasn‘t been so hard on IT Contractors as the last one – yet IT Contractors are more safety conscious than they were then.
Perhaps all the talk of another Great Depression or The Great Recession and the end of the world as we know it has spooked them.
IT Contractors have had an advantage this time around in that the hit has been expected and they could put some money away and stop spending on big ticket items whilst they awaited the expected tsunami.
However, no tsunami has hit so far although IT Contractor numbers have fallen a little and rates have fallen and Clients have used the recession to lop 10% off of contractors‘ money.
Most of them, though, have remained in work even if on a little less money.