The 457 can be for a period of 14 months rather than the traditional four years.
You may if your employer allows apply for a 186/187 permanent visa on arrival(Approx. 3-6 months to get), not sure how immi would take it if the employer has only stipulated 14 months on the 457 though.
Or, you could apply independent of your employer once here on the 457, based on your skills if you reach the points required.
The 457 has its drawbacks, but is a quick way of entering Australia.