Greedy IT Contractors
I don‘t know what prompted this, but we had the following email sent to us, about greedy IT contractors, out of the blue from an agent (or at least someone purporting to be one). It is not one of our usual agents who are good enough to give us their views and job market information. Here it is:-
It wasn‘t too long ago that greedy IT Contractors were cock-a-hoop. They were getting huge rates.
The rates were going through the roof, and so much so that the costs for the companies that they supply (or their clients as they like to call them) went through the roof and made them internationally uncompetitive.
This was sheer greed on the IT Contractor’s behalf, and their own greed suffocated them as they piled more and more cash into their already stuffed-full mouths. It was their own greed that killed them.
It had reached such proportions that the Government had to introduce the Fast Track Visa system in order to bring down the costs of IT to companies that the greedy IT Contractors had pushed up.
How the greedy Freelancers were cock-a-hoop in their fancy new cars and their lascivious lifestyles.
The trouble with that is that one day you are a proud cockerel and the next you are a feather duster.
If IT Contractors had been less greedy their profession might not have got into the state it was in till fairly recently.
Many companies have decided now to bring in good professionals from outside the EU. They are much cheaper, and they don‘t start getting greedy when the market is good.
Many companies won‘t employ UK-based IT Contractors again because they were badly bitten by them last time
As the market picks up again, my advice to greedy IT Contractors would be to not be so greedy and keep their rates at reasonable levels.
They‘ve got to start wooing the customer back again. It may be some time before customers have confidence in them again.
IT Contractor Comment
When rates were going up you said that IT Contractors were greedy. When rates were coming down is that because IT Contractors suddenly became not so greedy?
No, of course it isn‘t. That‘s just nonsense.
The rates that IT Contractors get isn‘t normally driven by them, but by the market. If there are more jobs than IT Contractors then the rates go up. If there are more IT Contractors than jobs then we see the rates go down.
This is called the Laws of Supply and Demand, and it is one of the basic tenets of economics.
It is nothing to do whatsoever with greed.
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