Job losses, salary freezes and axed bonuses were common during the financial crisis, and the lingering effects are still propagating. IT workers across Australia are reportedly moving to new jobs, revealing the erosion of loyalty caused by those measures.

The biggest challenge for employers, according to IT recruiters, will be to retain talented staff, as fears loom for a skills shortage in some areas of the industry.

For executive search specialist Debra Kwasnicki, one of the most critical issues for employers will be staff retention. “I have never known a time in my 15 years in recruiting where there have been so many unhappy people in jobs,” she said. “The music hasn't been playing, so the chairs haven't been moving around and an awful lot of people are saying as soon as the market picks up I'm out of here. It will get back to how good an employer you are."

Peoplebank’s chief operating officer Peter Acheson shares the same concerns. “When you start to see a pick-up in employment demand, employees have long memories and those who don’t feel they were treated well, or have stayed with their current employer because the market was a bit tough, will start to shop around,” commented Acheson, as quoted by The Australian.

Peter Noblet, director of Hays IT Australia and New Zealand, agrees, adding that “it is a tough argument with the 457 visa side of things and bringing people in from overseas, but in certain skill sets there will be no choice but to do that.”