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Sunday, 28 August 2011 21:54

Steady growth path for Finite

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National IT recruitment firm, FiniteIT has grown steadily to record a solid result despite a slowdown in demand for technology jobs in the key markets of Sydney and Melbourne in the second half of the 2011 financial year.

 

With revenues up by more than 18 percent to $280 million for the full year, Finite managing director, Tracy Thomson, said the market had been 'extremely buoyant nationally during the first six months of the financial year' but was adversely affected by slowing demand in Sydney and Melbourne during the second half.

According to Thomson, Finite's permanent recruitment fees continue to recover well, to be up by 42 percent for the year and with IT contracting and consulting revenues growing by 24 percent.

'The two speed economy seems to summarise things well with hiring in QLD, WA and to a lesser extent SA, continuing to surge on the back of the commodities boom, but with NSW and VIC definitely slowing in line with consumer sentiment.'

According to Thomson, the ACT remains a bright spot with Federal Government IT spend continuing and 'IT executive hiring also remained buoyant throughout the year.'

Looking forward, Thomson believes the current hiring pattern is likely to continue in the short to medium term, but with some sectors being 'more impacted than others by further gloomy news from abroad, or if a new Federal election is called soon.'

However, Thomson says the impact of the NBN Co roll-out remains a very positive prospect for the ICT industry generally.

Thomson also says that candidate salary/rate expectations in NSW and VIC are only starting to re-align with a less optimistic outlook, and she expects these to level off in the coming months, with the exception of some continuing high demand skill sets.

'Luckily, Australia's economy remains as a stand-out performer, which obviously bodes well.  It's probably a case of let's wait and see for now and hope for the best.'


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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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