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Outfits in Britain’s ailing financial services sector have scaled back recruitment more sharply for IT contractors than any other full-time or temporary worker. The number of job offers to the sector’s IT contractors fell last month by 49% compared with September, meaning their supply of work has effectively halved in a month. At a time when some financers, notably hedge funds, had offered more jobs to some candidates, IT contractors had been “left out in the cold” as the financial storm worsened. Alexandra Kelly, director of City vetting firm Powerchex, was responding to her figures showing IT contractors were the unlikeliest staff to need screening for a new workplace. Although financers were now scrutinising “every hire” to cut costs, IT contractors were often “first into and first out of any recession,” for being easier to dismiss and hire than employees. Ms Kelly added that after the “initial hard period” - today, next year is “likely to bring an upswing in demand” for IT contractors, “as organisation put off hiring permanent staff.” Pointing to analyst predictions, she spoke of IT contractor demand from financial services as likely to “bounce back,” in line with the hoped-for revival of economic and business activities. Nov 10, 2008 Email this article Printer friendly page Previous Page
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