Before the global recession of 2008 and 2009, IT candidates could literally command any salary they wanted – but today cost containment is high on the agenda of employers.
This is according to Karen Geldenhuys, MD of Abacus Recruitment, who says: “The global recession, which is now slowly subsiding, has changed the fundamentals of recruitment.
“IT workers were, until fairly recently, in a position to demand stratospheric pay packages. And, often, after receiving these grand payments, they would switch jobs after only three or six months. This has changed dramatically. IT workers are staying at their current jobs longer – and those candidates seeking employment, no longer call the shots as employers are pushing for serious cost containment.”
This viewpoint is corroborated by UK-based recruitment consultant company, Hay Group, which revealed that cost reduction is now the most influential consideration in hiring and rewarding IT staff – and that job security is increasingly becoming as attractive as high wages.
‘IT staff turnover has also decreased dramatically,” Geldenhuys adds.
However, the Hay research warns that the most talented people probably still have the confidence and opportunities to change from one employer to another.