Salary survey finds local job market more upbeat than last year

Last year may have been tough for business, but 2010 is looking more positive, ICT salary survey published by Castille Resources has found.

The report, which surveyed 744 positions, found that there is much greater optimism among employers of ICT professionals than six months ago. Although there is a long way to go before recruitment activity approaches pre-recession levels, the overall opinion is that of improvement.

Leading ITC and finance recruiter and career brand Castille Resources carried out the research into the local job market. A key area of the report looks into salary trends and introduces the islands’ first salary index. The index, which was set at 100 in late 2008, shows that although salaries have increased during 2010, the increases are either in line or less than that of inflation (CPI).

The survey also found 43 per cent of respondents believed market conditions were positive, with the overall feeling being that market conditions are definitely improving compared to this time last year.

Seventy-one per cent of companies surveyed found senior level positions (positions that require seven-plus years’ experience) very hard to recruit for, and a further 43 per cent of companies found intermediate level positions (those that require four and six years’ experience) difficult to recruit for.

Only 14 per cent of companies reported finding entry level or junior positions hard to fill. This indicates that there is a shortage of skilled ICT professionals within Malta, a finding that is echoed by last year’s survey.

Key sought-after skills also reflected the same findings as last year, with the main area required being software developers, with 71 per cent of respondents looking for some sort of developer, be it, .Net, Java or C++.

Companies using contractors are on the rise, with 71 per cent of respondents indicating a trend towards this method of recruitment. The average company is currently looking to contract out 10 per cent of its workforce.

Sixty-six per cent of employees said they didn’t feel they were being adequately rewarded for their hard work and loyalty. The most popular types of incentives for staff would be flexible working hours and bonus schemes, which is the same response as last year. However training also featured highly this year, compared to 2009. Employee motivators reflected in what respondents said they looked for from their prospective employers: 24 per cent said they looked at technologies the company used, and another 20 per cent gave training opportunities high consideration.

To complement the release of the report, Castille Resources is holding a series of breakfast meetings to discuss the findings. Booking for the free events is recommended.

Call 2123 4102 or e-mail mac@castilleresources.com for information.