Booming times but are salaries & rates going up?
One of the most common questions being asked right now is “are salaries and contract rates going up in line with the increase in demand for IT resources?” My initial reaction is a resounding, ‘yes’, however looking a little deeper there are some interesting points of note starting to occur across the Technology Industry.
Using the relatively widespread salary benchmark reports that pop up on the internet from a variety of sources, I was surprised at how low some of the average salaries were being reported. They certainly didn’t match up with what I was seeing day-to-day but with any statistical data you cannot read too much in to it without carefully examining the small print i.e. Scope and reach of the survey and the number and class of respondents.
So digging a little deeper I used a matrix of tools to see if there really was any truth to the rate changes being reported. Using a number of major job boards and cross referencing our own candidate database information and job placement data I was able to refine my findings. Finally to add a further layer of reference I spoke to other IT recruiters and a number of my current clients. Read more…
With the release of the Rudd government’s budget this week, speculation is that employment growth will strengthen from 1% to around 3.5% in 2010. Realistically this means that unemployment rates will drop, demand for talent will increase and the recruitment market is likely to take a turn towards a severe skill shortage not experienced for quite some time. With this in mind what are you, the employer, doing to avoid attrition rates creeping up and losing your key talent to competitors?
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