The Great Resignation: Businesses may lose 7 out of 10 Tech Employees Over the Next Year, Study Reveals
Survey sheds light on why tech workers across industries are ready to jump ship and what employers can do to keep their tech talent.
Today, TalentLMS, the leading learning management system backed by Epignosis, and Workable, a best-in-class international hiring platform, are releasing a report which reveals that 72% of tech employees in the U.S. are thinking of quitting their job in the next 12 months. For the vast majority of those who explore other job opportunities, workplace changes caused by COVID-19 have made them think more about quitting (79%).
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The top reasons for considering a job change, other than salary and benefits, are limited career progression (41%), a lack of flexibility in working hours (40%), followed by a toxic work environment (39%). Additionally, a lack of learning and development opportunities (32%) and remote work options (30%) are among the top reasons that drive tech employees away.
The survey unveils an overall and deep desire for skills development, continuous learning, and professional growth, as 91% of tech employees state that they want more training opportunities from their employers. As for the technologies that will future-proof employees in the job market, Machine learning and artificial intelligence (AI) were the first choice (66%), followed by cloud-native development (49%) and block chain (46%).
“The realization that remote working is a viable alternative for ΙΤ employees has created many employment options that are no longer geographically constrained,” said Periklis Venakis, CTO of Epignosis, who sees The Great Resignation as a direct result of the pandemic. “With the need for highly-skilled IT professionals at an all-time high, the survey from Epignosis and Workable shows that tech workers are increasingly viewing learning and upskilling as a top career priority”.
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Other key findings include:
- More than half of respondents (58%) say they suffer from job burnout. These employees are almost twice more likely to quit their job than those who don’t suffer from burnout.
- Seventy-five percent feel that their company focuses more on attracting new employees than investing in the existing ones
- Skills development (58%) is the top criterion other than salary and benefits when selecting a company to work for
- Sixty-two percent of respondents say more learning and training opportunities would make them more motivated at work
“We’re no longer in a crazy time. We’re in new times, which calls for new rules of engagement when attracting talent – especially when recruiters and employers are struggling to fill roles,” said Workable’s Content Strategy Manager, Keith MacKenzie. “The onus is now on employers to really step up their talent attraction game – and loosen the requirements for a role. There’s a huge path to get there: find and hire those top prospects, and develop them when they’re with you.”
The online survey included responses from 1,200 employees in the United States who work in tech/IT/software departments and roles.
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