2009 was a tough year for the UK economy and even more so with contractors across many industries. Contractors in IT seemed to be one of the hardest hit with contracts being terminated early as well as their daily or hourly rates being slashed.
A survey in 2009 highlighted that a quarter of IT departments said they intended to reduce contractor pay, with reductions totalling as much as 25% in some cases. However, as the UK economy has now officially come out of the recession, this same survey, conducted this year, revealed that just 5% of IT contractors will see downgrades to their hourly rate over the course of the year.
IT Contractors are beginning to feel optimistic and hope that 2010 will see the IT contractor marketplace recover. There have already been signs of this with the rates seemingly beginning to stabilise and IT contracts beginning to re-appear after they were once halted.
Alex Farrell, Managing Director of ITjobboard.co.uk, said that the industry is beginning to see “real growth” in terms of recruitment, largely due to a rise in business confidence over news that the UK has officially emerged from recession.
“The economic climate has resulted in a strategy shift for many businesses. IT is a pivotal structure within any organisation, it is the bedrock for business globally,” he added. There has been an increase in demand for support analysts, information specialists and performance experts.
Independent Contractor Services (ICS) offer a number of accountancy and administration solutions to contractors working across all different industries. For more information about our popular Umbrella Service or Limited Company Service, telephone 0800 195 3750.
