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Contractors seem unprepared for the swathes of permanent IT staff who are threatening to leave their lower-paid jobs to develop their careers elsewhere. Dissatisfaction with their current job, historically because of pay, progression and interest, is why most IT staff (mainly employees) intend to quit or are open to offers. In fact, during the first quarter of this year, nearly 90% of IT staff admitted they had actively searched job sites or had at least 'kept an eye out' for something better. Of these workers in full-time jobs, more than a third (34%) expected to make their jump within the next three to six months, according to IT recruiters Computer People. The agency’s poll of 4,970 IT staff, of whom 6% were contractors, found that a further third of the employees planned to leave by next year or 2010. This anticipated ‘exodus,’ two-thirds of IT employees expect to quit within the next 16 months for a change, could swell the numbers aiming at freelance jobs. The ensuing prospect of more applications per top-rate IT contract is likely, given that two of the top five reasons employees gave for quitting were financially driven; salary and pay conditions. Contractors seem unfazed: employees may be eyeing their roles (87% of all IT staff were job hunting or open to offers), but just 2% of contractors said they chose their contract for stability. Moreover, six out of ten contractors said they didn't expect to be with their current client for longer than the next six months, and 40% were only looking at roles with a maximum of 12 weeks. Further explaining why employees may pursue work as contractors, who are more favourable hires in a downturn for being easier to dismiss if conditions worsen, 62% of them rated job security as important. The biggest incentive to move illustrated by the survey was that they earn significantly less - an average salary of £35,160, whereas average contractor rates are £34 per hour. Based on the figures, a permanent employee working as a project manager would earn £42,297, compared with a contractor on £44.86 an hour for the same role. At an average 37.5-hour week over 46 weeks a year, the contractor’s contract equates to £77,383, almost twice that of the permanent employee’s. Aug 11, 2008 Email this article Printer friendly page Previous Page
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