A warning that the temporary market for computer jobs is set to flatline appears to be being heeded, in light of evidence that IT contractors are increasingly opting for contracts that will keep them ‘off the bench’ the longest.
In fact, a survey between March and May this year found that 69 per cent of IT contractors would choose a longer contract in favour of an alternative with a shorter duration that comes with a higher hourly pay rate.
Although the finding means the chunk of contractors prioritising ‘job security’ over pay has notched up only slightly since the beginning of the year, it represents a 15 per cent increase against the same period in 2012, said Giant, which ran the surveys.
Back then, the payroll firm found that having a stable or long-lasting contract was the key criterion for 60 per cent of the IT contractors, who now rank such job security ahead of work-life balance, and pay – the most traditional pull factor to a contract.
“The [latest] results suggest that IT contractors are recognising the benefits of greater job security and quality rather than simply more money in the short term,” said Giant’s managing director Matthew Brown.
“We’re actually seeing a slight drop in the length of time between contract assignments which is reflective of these changing priorities, and we expect the number of contractors opting for longer projects over higher per hour payment to further increase throughout 2013.”