Talent Crunch Leads Employers to Seek Out Contingent Workers; IQNavigator Helps Companies Find, Procure and Manage Contract Labor

Business Wire, March 27, 2001

Business Editors

DENVER--(BUSINESS WIRE)--March 27, 2001

The new economy has taken many turns over the last several months but, undeniably, it is still a solid environment for contract workers.

Technology's role in the new economy has heightened demand for contract labor to the extent that contingent workers with the latest IT expertise can command rates well over those paid to full-time workers. According to IQNavigator, Inc., a provider of workforce management solutions for procuring and managing full-time and non-employee labor, the average salary rate is as follows:

      --  C   Visual Basic $20-$35/hr.
      --  C   Advanced 4th/5th Generation Skills $40-$45/hr.
      --  Oracle JD Edwards & ERP $75-$150/hr.
      --  Highly Specialized Skills: Ariba/B2B $250 /hr.

These skyrocketing salaries can be attributed to the increase in technology-related openings and the scarcity of highly skilled IT workers. According to Merrill Lynch, 1.3 million new technology workers will be needed by the year 2006 in the United States. Currently, one out of every 10 IT positions is vacant, approximately 350,000 jobs.

John Raeder, president and CEO of IQNavigator, said: "Hiring contract workers benefits not only the contract employees, but also the hiring company. Bringing an individual into an organization has significant costs, including hiring, training and compensation. Many companies demand top-notch technology workers but cannot justify the expense of full-time employment when these employees are only needed on a project basis. Utilizing contract labor, then, is the most logical solution."

When working with workforce management providers like IQNavigator, employers can be confident that their needs for highly qualified and skilled contract labor will be fulfilled. Employers also see results in terms of cost reductions, back-end integration and the presence of on-site assistance to efficiently handle the entire process.

About IQNavigator

Headquartered in Denver, IQNavigator provides companies with enterprise-strength, Web-based applications and services that enable companies to better plan, source, evaluate, recruit, hire, manage, measure and retain contractors and full-time employees. IQNavigator creates collaborative marketplaces between enterprise customers and their sources for candidates. Included in this exchange is IQNavigator's independent global supplier network, representing more than 4.5 million potential candidates. The IQNavigator approach streamlines the human resource supply chain and increases organizational communication, helping companies win the war for talent.

IQNavigator's e-workforce management solutions are built around a patent-pending matching engine and enterprise-strength architecture, delivered in a Web-hosted environment. For more company information, visit www.iqnavigator.com or call 303/563-1500.