Reply to: How worried are you?

[centurian]

Probably have sufficient work (extensions / short term consultancies) to see me through to October-ish, so feeling okay at the moment.

The main concern is how long is this going to last...

[BlasterBates]

I think that is important ASAP to FAB. I mean SOB is all very well, but in the end we all "NTW".

[Not So Wise]

Feel "ok" about but that’s mainly because I snagged a contract in 4th quarter last year that barring the unlikely/unexpected should see me though the entire thing (though took a rate cut for it), which is good because personal circumstances (bloody women ) decimated my war chest at the start of last year.

Now at least got something to see me though the downturn and getting my tulip together so that by time upturn comes I should be in a 10 times better position than I have been in the last 12 years

If did not have this contract would probably be terrified as last crash (01/02) hit me badly and going though that twice in a decade would just be to much

Although re-reading what you've written, I htink you've got my point all wrong. I'm talking about people in existing contracts - sure people will take those jobs, but people wil also leave en masse given the right opportunities is my point.

*Does not know a single working contractor that is not waiting for the up-turn so they can jump ship*

[snaw]

Hardly the right attitude for a contractor. I'd be quite happy to contract (on a decent rate) for say, BT or IBM after they have shafted other contractors. I could not GAF.

OTOH some permies in law firms for instance have been badly dealt with. These firms make a very big song and dance about company loyalty, and will look a bit sheepish if there is a sudden upturn in business.

May well not be, but it's still the truth - quite a lot of aggreived people out there who've had take it or GTF calls on their rates. Right now companies, whether they need to or not, are screwing their staff for all they can get, I understand where that comes from but I equally understand the reaction, when it comes, that will inevitably come.

Although re-reading what you've written, I htink you've got my point all wrong. I'm talking about people in existing contracts - sure people will take those jobs, but people wil also leave en masse given the right opportunities is my point.

[Hawkeye]

Hardly the right attitude for a contractor. I'd be quite happy to contract (on a decent rate) for say, BT or IBM after they have shafted other contractors. I could not GAF.

OTOH some permies in law firms for instance have been badly dealt with. These firms make a very big song and dance about company loyalty, and will look a bit sheepish if there is a sudden upturn in business.

It might not be the right attitude but is it correct to send contractors letters threatening them to sign their newly cut rate or they will be fired?

It is not exactly the best way to deal with staff whether they are contractors or not. At the end of the day it will affect motivation and will leave a bad taste in the mouth of those that work extremely hard for the companies that they provide a service for.

[SallyAnne]

Hardly the right attitude for a contractor. I'd be quite happy to contract (on a decent rate) for say, BT or IBM after they have shafted other contractors. I could not GAF.

OTOH some permies in law firms for instance have been badly dealt with. These firms make a very big song and dance about company loyalty, and will look a bit sheepish if there is a sudden upturn in business.

I'm actually more annoyed by your use of abbreviations than I am at any companies out there.

FYI.

[swamp]

Tell you what - when it does come, there's a lot of bad blood that'll come home to haunt a lot of companies.

How many people, contract and permie, feel like they're getting shafted right now - especially by companies that aren't really affected by the downturn?

When the job market picks up expect a lot of people to jump ship with a big FU to the employer that squeezed them.

Hardly the right attitude for a contractor. I'd be quite happy to contract (on a decent rate) for say, BT or IBM after they have shafted other contractors. I could not GAF.

OTOH some permies in law firms for instance have been badly dealt with. These firms make a very big song and dance about company loyalty, and will look a bit sheepish if there is a sudden upturn in business.

[snaw]

Normally yes - but this time round traditional funding has dried up as well as income from operating activities - so budgets have either been frozen or slashed.

My suspicion is that when things do turn, it will go crazy. A lot of the work that has been shelved isn't just going to go away - it will still need to be done, and I know from experience that companies are beginning to discuss not wanting to miss the boat when things do turn round. If they are behind the curve, they'll miss the better talent that's out there. The problem is that nobody wants to jump first and there is still bad economic news to come.

Tell you what - when it does come, there's a lot of bad blood that'll come home to haunt a lot of companies.

How many people, contract and permie, feel like they're getting shafted right now - especially by companies that aren't really affected by the downturn?

When the job market picks up expect a lot of people to jump ship with a big FU to the employer that squeezed them.

[PM-Junkie]

You would have thought, wouldn't you, that the best people to take on initially are contractors, since they can be got rid of easily at short notice, if things turn bad again? There again, the same arguments actually apply to permies..

Normally yes - but this time round traditional funding has dried up as well as income from operating activities - so budgets have either been frozen or slashed.

My suspicion is that when things do turn, it will go crazy. A lot of the work that has been shelved isn't just going to go away - it will still need to be done, and I know from experience that companies are beginning to discuss not wanting to miss the boat when things do turn round. If they are behind the curve, they'll miss the better talent that's out there. The problem is that nobody wants to jump first and there is still bad economic news to come.

[NotAllThere]

I feel positive, but it could be because I'm delusional.

[ziggy]

Been on the bench for 2+ months, can survive for quite awhile but this would mean digging into savings that I don't really want too e.g. ISA.

Nothing much around ... not had even one interview.

Wouldn't say I was frightened ... trying to get loads of DIY jobs done whilst waiting for something to come up ...

ke sera sera ...

[snaw]

You have probably spent too much time listening to this lot.

Yes, it will probably be harder to get your next gig than it was to get the last few.

But, we should be expecting periods when gigs are hard to find to happen from time to time. It is not so long since the last contractor downturn and it was not uncommon for people to be benched for a year back then.

It is easy for me I know. I was expecting to take a long time out now and have planned accordingly.

Great opint - if I didn't have kids I'd be off on a 6 month tour somewhere, or doign a ski season or something - fck it, use this time to take time out for yourself and go somewhere cheap and esacpe the misery!

[MrMark]

Actually the contract market usually picks up before the start of an upturn. And the start of the upturn is usually 2 months before the media twigs that the upturn is started.

You would have thought, wouldn't you, that the best people to take on initially are contractors, since they can be got rid of easily at short notice, if things turn bad again? There again, the same arguments actually apply to permies..

[PM-Junkie]

The good news is that contracting will pick up at the start of the upturn.

The bad news is the upturn may be some years away.

The worse news is a lot of contractors in work are probably finishing long term roles this year. Might be a real squash on the bench for a bit.

Actually the contract market usually picks up before the start of an upturn. And the start of the upturn is usually 2 months before the media twigs that the upturn is started.

[Gonzo]

I dont know if this is rational thinking, or wheter I've just spent too much time listening to you lot panic.

You have probably spent too much time listening to this lot.

Yes, it will probably be harder to get your next gig than it was to get the last few.

But, we should be expecting periods when gigs are hard to find to happen from time to time. It is not so long since the last contractor downturn and it was not uncommon for people to be benched for a year back then.

It is easy for me I know. I was expecting to take a long time out now and have planned accordingly.