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July 16, 2013updated 19 Aug 2016 9:26am

Forget pay, IT contractors want job security

A new survey shines light on job security fears of IT contractors

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IT contractors are increasingly opting for long term contracts rather than those with higher pay, according to recent research by professional umbrella employment provider, giant group.

The firm surveyed 227 professionals from March – May 2013, and found that 69% of respondents said that they would prefer a longer contract rather than higher per hour payment, up from 60% in the same period last year.

On top of this, when asked what would attract them most to a contract, just 37% of those surveyed ranked income as the most important factor, a decrease of 5% from the previous survey. 13% of respondents actually said they felt that income was the least important consideration.

Matthew Brown, managing director of giant, said: "The results suggest that IT contractors are recognising the benefits of greater job security and quality rather than simply more money in the short term. We’re actually seeing a slight drop in the length of time between contract assignments which is reflective of these changing priorities, and we expect the number of contractors opting for longer projects over higher per hour payment to further increase throughout 2013."

Founded in 1992, giant has developed and delivered workforce management solutions to the recruitment market. Through web-based services, the giant precision suite of back-office apps spans HR contract management, timesheet management, payroll, billing and payroll disaster recovery.

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