Quarterly Contract Collective Insights

Louise Langridge October 14, 20194 mins read

Our Morgan McKinley Contract Collective is released on a quarterly basis to bring you the latest updates and insights across the Contracting Market.

Skills in demand in Data Analytics

The first 3 months of the financial year has kicked off with bang in the contracting world, budget sign off seemingly the determining factor, bringing in new projects and an increased demand for key roles in the market. 

We are seeing a large number of contract and fixed term roles coming in across the Data Engineering space with skill sets in Azure and GCP being the most sought after and the highest paid. Data Governance and Information Management are also hot topics in the market currently, following the Royal Commission all businesses are starting to look out how they regulate and secure their data more effectively, with sweeping data privacy laws not too far away, organisations that have invested in this area are going to have an advantage. 

Rates are fairly stable this quarter across the board, the slight peaks mentioned above are for contractors with the Azure and GCP skill set.

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Government

The first of July sees the start of the new financial year and new budgets for each Government Department.  Reports have advised that budget sign off and release came later this year compared to previous years and therefore, roles for the quarter have been replacement or backfill positions and predominantly in the lower pay grades. The Machinery of Government still continued its influence on the market with jobs down 25% quarter on quarter.

The good news we are hearing from our departmental contacts is that there will be a vast improvement in role numbers leading up to the festive season and new year. Especially within IT & Business Transformation, where there will be large scale bodies of work, primarily within Transport for NSW, Education and TAFE. The most sort after roles will be in Project Management, Change Management, Business Analysis and Organisational Design. Finance and Policy roles will still be in good demand for all departments.

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IT & Business Transformation

It's been another busy quarter in contracting for the IT & Business Transformation team.  Q3 has flown by and we are all go as we head into the final quarter of 2019.  Before we do, here's a quick snap shot of what we've witnessed in the contracting market in Q3.

July saw the start of the new Financial Year for a number of our clients and the new budget approvals for Transformation Programs in FY20. Overall a positive outlook ahead for FY20 as companies across the board look to transform in some form or fashion.

Hiring of Transformation contractors has continued to be high across the Financial Institutions in Sydney, daily rates have remained constant with particularly high levels for demand within Life Insurance, Risk/Compliance and Data.

Elsewhere we have seen a continued focus on Cyber Security with many large Programs of work running or looking to gain funding in the next few months.  With demand across the board for the Cyber Security skill set we are envisaging those with this experience may see an increase in the daily rates on offer.

Overall we are predicting a busy end to the year in contracting roles as more and more Project/Programs begin to gain traction and look to grow in size.

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Technology

There is a growing industry trend focusing on building Single Page Applications using a mixture of Angular, React and Node as well as creating reusable components for enterprise/organisation wide. 
This grows upon the increasing use of cloud services, so exposure to AWS & Microsoft Azure with a deeper understanding than just shift & lift functions is desirable as there is a movement towards automation, continuous improvement & continuous delivery and the DevOps model so knowledge of Jenkins, Bamboo, Ansible is good.

Within the wider market, we have also seen a growing number of mergers & acquisitions, especially within the financial services sector so experience with data and systems integration and reconciliation is in demand.

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Commercial Businesses (Accounting & Finance)

Contracting has seen a steady decline over the past quarter with permanent hires incrementally increasing. Many of our clients have been through financial year end and in June/July which had lead to an increase in permanent hires to support with growth plans for the next 12 months.

We are starting to see an upturn in the contract market over the past few weeks and this is expected to continue to rise in activity for Q4.

The demand for skilled individuals with strong communication skills is still very much a hot topic when speaking with clients. Being able to translate finance to non-finance stakeholders and be more of a “storyteller” is where we see finance moving towards so we encourage candidates to seek out opportunities to interact with different areas and levels of seniority to improve on these skills.

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Louise Langridge's picture
APAC Regional Managing Director
llangridge@morganmckinley.com.au