According to HFS Research CEO Phil Fersht, there is definitely a slowdown in demand for IT services as enterprise leaders hold fire on spending decisions due to negative economic forecasts. “IT services firms have focused wage increases on the junior and mid-layers to stem attrition and are less concerned about senior leaders jumping ship in this economy. The leading providers are preparing for margin squeezes and a slowdown,” he said. On the possible levers to contain this, Fersht said hiring must be slowed down, key talent retained and bonuses aligned to maintain profit margins.
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