IT Worker Confidence Takes a DipIT Worker Confidence Takes a Dip

After several months of increasing optimism among IT workers, their confidence about job security and personal finances dipped in September, according to a report released this week by Hudson, a staffing, outsourcing, and human-capital consulting unit of Hudson Highland Group.

Since the beginning of the year, Hudson has been conducting phone interviews with about 9,000 workers in various industries, including about 350 IT workers. Employment-confidence ratings among IT workers began rising significantly in June, and by August, optimism scores among IT workers reached a high for the year--a rating of 115.9, compared with the base score of 100.

However, in September, confidence levels among IT workers fell 3.8 points to 112.2, to about the same level as in July. Optimism among IT workers hit its lowest point in May, sinking to 101.2.

Despite the drop, IT worker confidence still outpaces worker optimism across all industries, which rated 108.4 last month. Aerospace, health care, and financial services are among the other industries surveyed. Key factors contributing to the decline in IT worker confidence, according to Hudson, are: increasing levels of job dissatisfaction; more workers reporting worsening personal financial situations; and an increasing percentage of IT workers engaged in a job search.

"September is a funky month; a lot of budgets are done in September," which tends to raise the uncertainty level about next-year hiring plans, salaries, and other work-related concerns among employees and employers alike, says Kelli McGrath, Hudson's VP of recruitment for IT for North America.

Also fueling the increasing job-insecurity and nervousness about personal finances are rising oil prices as well as the upcoming elections--from presidential to local races--McGrath says. "It will be interesting to see what happens [to confidence levels] after November's elections. It's too soon to tell if September is just a blip," she says. The devastation from hurricanes in Florida and other states impacted by the storms also likely affected job confidence among some workers, she adds. Despite the drop in September, Hudson has had an increase in job placements "and job orders have skyrocketed" during the last several months, she says.

Among the hottest IT skills being sought are those related to network security and compliance with government regulations, such as Sarbanes-Oxley, she says, adding, "IT people with those skills should feel very confident right now" about job security.