There is evidence that working conditions for IT contractors are improving despite, and even because of, the continued uncertainty surrounding Brexit.
A study of 600 freelance IT freelancers by SJD Accountancy found that 8.7 per cent of companies hired more IT contractors over the past 6 months, as compared to the 3.4 per cent who were hiring them immediately after the Brexit vote.
In addition, companies are seemingly renewing their contracts sooner, instead of waiting until the very end of the agreement.In fact, the average duration per IT contract has increased since the UK's 'leave' vote, indicated that more and more end-users are looking to 'lock-in' contracting professionals.
SJD's poll found that 31.2 per cent of respondents are on contracts lasting 12 months or more, compared to less than a quarter who said the same last year. In a boon for contractors, businesses are also willing to pay more in order to keep contractors in order to avoid the skills shortage they've been warned of.
SJD’s chief executive Derek Kelly, said: “The initial shock of the Brexit vote led to some panic layoffs but many organisations have since upped their quota of contractors.”
“In some respects, lingering uncertainty is likely to favour contractors who are more suited to short-term projects that produce a quick return on investment than permanent hires. We are also starting to see large financial services businesses begin work on technology risk-management projects related to Brexit, which is creating demand for contract roles.”