IT Jobs - We're all aware of the so called ‘credit crunch', and its threatened effect on the IT jobs market, but how is it actually manifesting itself?
RSS FeedMay 19, 2008
IT Jobs - We're all aware of the so called ‘credit crunch', and its threatened effect on the IT jobs market, but how is it actually manifesting itself?
The financial services sector has been coming under increasing pressure from the global credit crisis. As a major employer for telecoms and IT jobs, what does the near future hold?
Current market observations indicate that companies are continuing to invest in projects and IT jobs that directly affect business growth, but are exercising caution on longer term projects. To allow companies to retain their competitiveness, the maintenance of existing IT jobs remains essential, but companies are examining how they can save money, and there are some short term trends where contractors, who have been in IT jobs for a long time, are being replaced by permanent IT staff. There is still high demand for IT jobs, but it appears that permanent IT jobs are being preferred on projects involving internal processes, and administration, where it is less easy to prove a return on investment.
That said, the general trend is that there is little, or no, reduction in IT jobs spend by employers in the IT jobs arena. In a recent NCC survey, 58% of 120 companies interviewed predicted that they would be increasing their IT spend over 2008, gaining efficiencies by deploying technology to improve business processes.
In an expanding, and ever-changing industry, qualified IT jobs seekers with flexible and portable skills are in constant demand. Individuals who can adapt and respond to ever-changing IT jobs demands and are able to apply their skills across all sectors will be able to retain their job mobility.
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