IT contractor demand hits new heights

 In Bookkeeping, Contractors, Small Business Accounting

Contractors are becoming increasingly more valuable for businesses, with demand for IT contractors hitting a 14-month high in recent months.

The latest report from the Recruitment & Employment Confederation (REC) shows that demand for IT contractors rose from 59.1 in February to 60.1 in March.

REC chief executive Kevin Green stated: “Many [employers] are reporting an increasing number of white collar jobs as hard to fill, including in the IT and financial sectors.”

What types of contractor are desired?

The contractors most in demand are those with advanced IT and/or technical skills, including:

  • Digital generalists
  • UX/UI experts
  • Software developers
  • Software engineers
  • Web developers
  • Java developers
  • DevOps specialists
  • IT security specialists

Why the spike in contractor demand?

The current environment is the result of two primary factors:

  • Skills shortage: The full-time IT labour market is facing skills shortage, narrowing the pool of available applicants significantly.
  • Brexit: Fears over the post-Brexit economy have led many IT specialists to stay in their current jobs. Employers are recognising their value with improved packages, while specialists are reluctant to turn their back on a regular source of income.

Not only will this spike in contractor demand make it easier for contractors to find work, it’s also likely to mean that better remuneration packages are on offer.

There’s rarely been a better time to be an IT contractor. And, with specialist contractor accountants helping you make advantageous financial decisions in today’s turbulent market, the rewards could be significant.

Call on 3 Wise Bears for more specialist accountancy guidance for contractors.

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