IT Industry Workforce Evolution

Changes in the hi-tech industry are driven by the need for:​​

1. Flexibility​
2. Specialized skills​
3. Cost-effectiveness​
4. Adaptability​

Hi-tech companies are increasingly turning to contractors to compensate for a shrinking workforce due to the impact of the pandemic and the rapid evolution of technology​

Increased Demand for Contractors​

The demand for short- & medium-term contractors in the tech industry has surged in recent years, especially since the start of the pandemic. Companies have turned to contractors to fill gaps to ensure they have the necessary skills for evolving technologies​

Financial Impact​

Hiring contractors can be financially beneficial for companies as they are not entitled to benefits like health insurance or retirement plans. Companies can easily scale up or down based on demand, making it a cost-effective solution.​

Flexibility and Specialized Skills​

Contractors provide flexibility by  offering specialized skills such as cybersecurity, cloud computing, data analytics, and AI. ​

This allows companies to quickly adapt to changing needs and project requirements​

Rise of IT Contracting Jobs​

IT contracting roles have tripled in the past two years​

Nearly 90% of enterprises planning to maintain or increase budgets for contractors.

Summary

Overall, the trend of hi-tech companies using contractors is driven by the change workforce requirements. ​

How can Porter Consulting help with short/medium term contractors?​

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