Contract roles dominate IT job market

Itís tough finding a full-time role as a techie these days, but banking sector consolidation could at least lead to more contracting opportunities in the near future.

Cost-reduction drives made some IT jobs redundant in the fourth quarter, but the layoffs were largely limited to trimming headcount, rather than cutting whole teams. Now the employment market remains tight, with only business-critical projects leading to a trickle of jobs.

ìI donít see many banks concentrating on customer-focused IT improvements in 2009 because these will require permanent hires,î says Frank Wadsworth, IT practice leader at recruiters Hudson.

Contract roles are likely to outweigh permanent ones until confidence comes back into the market. Consolidation in the finance sector will be driving the demand for IT contractors as merging firms seek to integrate their systems. Wadsworth reckons the Westpac-St George deal will lead to the highest hiring volumes.

In the current employer-led market he advises candidates to be flexible. ìItís arguable that a contract role is just as good as a full-time role because no one can be sure their job is safe. And itís potentially better to take a contract now on a lower rate, rather than waiting for a better one and finding yourself unemployed,î says Wadsworth.

Banking sector experience and commercial acumen will set candidates apart from the crowd. ìFor organisations looking to make strategic hires, now is a great time to employ candidates who, six months ago were unobtainable. The availability of strong candidates is the highest I've seen it in nearly seven years. Companies that don't bury their heads in the sand and take advantage of these conditions will have the edge on their competitors,î he adds.