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A Hot Market Requires SPEED!

The IT staffing market has been heating up for some time now. My blog of a couple of days ago highlighted just how hot things are getting in Canada. There have been forecasts of skills shortages for some time and now they are here with a vengeance!

What does this mean? In a hot market the dynamic changes significantly. Clients no longer have the luxury of taking their time to pick and choose which consultant to take. Contractors have more options and they are choosing the contracts with the best rates, longest terms and most interesting work. Clients who have been used to renewing contracts at the last minute are being unpleasantly surprised to find that their key contractors are not taking the extension, because they have been wooed away!

What is the message? If you are a hiring manager the golden rule to get you through the next couple of years is Move Quickly!

1. Move quickly! If you interview someone you want, then move immediately. Many smart clients are already making their offers right at the interview stage ... this leaves those who want to weigh their options out in the cold.
2. Move quickly! If you have contractors on contract today then make sure their contract term matches the period that you are going to need them. Renewing short term contracts is going to cost you. So don't wait until the last minute to get their extensions signed and locked down. You should be looking out at least 2 months (the contractors will be starting to look if they are within 4 to 6 weeks of a contract end date.