IT umbrella contractors might find their skills in demand as a skills shortage looms in the sector.
Businesses are recovering from the recession and ramping up their investment in technology. Research conducted on behalf of APSCo found that 90,416 new IT vacancies appeared on job boards in May this year, a year-on-year increase of 19,504. The South East of England registered the biggest year-on-year jump in IT vacancies in May; up 34% to 19,425.
Sectors such as financial services, media and retail are showing a particularly strong demand for skilled IT professionals. New regulatory and compliance requirements have led the banks and other financial institutions to invest heavily in IT. Insurance companies, for example are desperately trying to recruit IT staff in order to meet the new Solvency II regulations that come into force at the end of 2012.
Financial services companies are also prioritising low-latency trading. By making IT platforms execute trades faster, they can boost profitability significantly.
Retailers are looking for people with skills in designing home delivery e-commerce platforms, whilst media companies are enhancing their offerings online.
The chief executive of APSCo, Ann Swain, said businesses cut back on IT spending during the global downturn so it makes sense for them to invest in technology now. IT is a key driver to boost competitive advantage and IT directors are keen to push ahead with projects that will increase productivity. She also said that candidates with experience in cloud computing are much in demand at present.
Skills shortages are becoming widespread in some areas of IT and candidates with niche skills receive multiple job offers and it is now commonplace for people switching jobs to receive massive pay increases.
© 2011 All rights reserved. Reproduction in whole or in part without permission is prohibited.
Image: Mac Attack by Robby Mueller
