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IT job prospects unscathed by UK recession fears

~ only nine per cent of contractors are worried about finding work, InterQuest finds ~

February 19, 2008

Despite predicted doom and gloom, just nine per cent of IT contractors say they are very concerned about finding work in the current economic climate. Furthermore, over half are not at all concerned, according to research from InterQuest Group, the IT recruitment specialist.

The survey also found contractors do not think senior staff at their current companies are concerned about a credit crunch: just 12.4 per cent said senior managers seem very worried, while nearly a third said they don’t seem worried at all.

InterQuest conducted an anonymous survey to gauge the industry’s mood in the face of news of a potential recession in the UK. More than half of the contractors feel confident about their job prospects and 52 per cent said permanent staff at their current companies are not worried about pay or job cuts either.

“There are those who seem intent on almost talking us into recession and that's obviously spooking some people,” said Gary Ashworth, chairman at InterQuest. “However, the truth of the matter is that while a minority are very worried about where their next job will come from, we are not seeing any let up in the demand for skilled IT contractors. Unlike during the last recession, which was so inextricably linked to the dot-com boom and bust, this time around IT is at the very heart of every successful business.”

“Companies may not be spending big on new hardware or infrastructure right now but bringing in skills to get the most out of existing systems and grow the business or reduce costs through the effective use of IT is definitely still an investment firms are making.”

“The effective use of IT presents the best opportunity to increase efficiencies during a time of belt-tightening,” added Ashworth.

As such, Ashworth believes that putting a freeze on recruitment or projects would be a false economy in the current climate. “The minority of senior managers who are very worried about an impending credit crunch must not let their fears cause the situation to become a reality,” he said.

For further information about InterQuest and the types of positions currently available, please visit www.interquestgroup.com.

(383 words)

Executive quote

“There are those who seem intent on almost talking us into recession and that's obviously spooking some people,” said Gary Ashworth, chairman at InterQuest. “However, the truth of the matter is that while a minority are very worried about where their next job will come from, we are not seeing any let up in the demand for skilled IT contractors. Unlike during the last recession, which was so inextricably linked to the dot-com boom and bust, this time around IT is at the very heart of every successful business.”

“Companies may not be spending big on new hardware or infrastructure right now but bringing in skills to get the most out of existing systems and grow the business or reduce costs through the effective use of IT is definitely still an investment firms are making.”

“The effective use of IT presents the best opportunity to increase efficiencies during a time of belt-tightening,” added Ashworth.

As such, Ashworth believes that putting a freeze on recruitment or projects would be a false economy in the current climate. “The minority of senior managers who are very worried about an impending credit crunch must not let their fears cause the situation to become a reality,” he said.

About the company

NOTES TO EDITORS

About the research
InterQuest conducted the research during w/c February 11, 2008, among its 1,000 contractors working in blue chip companies across the UK. The survey received 89 responses in total.

About InterQuest Group

InterQuest Group is a rapidly growing IT staffing solutions company. Founded in late 2001 by Gary Ashworth, the group is already amongst the largest IT staffing groups in the UK.

Specialising in contract and permanent recruitment, the InterQuest Group currently operates as a collection of seven distinctive branded divisions, together offering a full spectrum of IT solutions to a blue chip client base.

InterQuest’s goal is to supply quality IT staff that add value to client’s specific business needs from its database of around 86,000 UK professionals. Clients include high profile names such as Barclays, Prudential, John Lewis Partnership and M&G.

The specialist divisions with the InterQuest Group are: PEOPLEco, Insight, Genesis, SBS, Sand Resources, Intelect and e-CRMPeople.

Contact details

For further information, please contact the team at LEWIS PR:
Gemma Rowlan / Louise Waller
Email: gemmar@lewispr.com or louisew@lewispr.com
Telephone: 020 7802 2626
Address: Millbank Tower, Millbank, London, SW1P 4RS

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