Only 29.1% of IT employees have firm plans to stay with their current employer, according to The latest Global Labor Market Survey from Gartner.
Depending on where these IT workers are located, that number may be much lower. In Asia, only 19.6% have a high resolution to stay in their current job; in Australia and New Zealand, only 23.6% feel the same; and in Latin America, the number is 26.9%. Even in Europe, the best performing region, only four in ten IT workers (38.8%) expect to remain in their current organizations, according to the survey.
Overall, IT workers are 10.2% less likely to stay in a job than non-IT employees, according to the survey. This is the lowest of all corporate functions.
For many IT employees, who are now in peak demand due to the pandemic and the rise of the hybrid workplace, this is a time to reflect on career and lives.
“There has never been a better time than now to find your career and the company you want to work for and your value proposition,” said Graham Waller, vice president and distinguished analyst at Gartner. “IT workers will have no more choice than they do now.”
The Gartner Global Labor Market Survey includes more than 18,000 employees in 40 countries, including 1,755 employees in the IT function in Q421.
A Gartner survey showed that 65% of employees feel that the pandemic has forced them to rethink the role of working in their lives. And 58% indicated that the pandemic had changed their view of the desirability of their current workplace.
“IT’s a very heated labor market right now,” Waller said. “There is a great talent competition going on there. Sometimes we compare it to the competition to find the best athletes – especially in key skill areas such as cybersecurity, data science, cloud and agile development, etc. “
Seventy-six percent of IT employees who switched jobs last year had at least two other job offers compared to 43% of non-IT employees with multiple job offers. That gives IT workers a lot of negotiating power, Waller said.
For the first time since Gartner started the Global Labor Market Survey 10 years ago, work-life balance is tied to pay as the main reason for choosing the IT benefits of a new job.
The challenge of retaining IT talent varies by age group and region. For example, IT workers aged 30 and under reported being 2.5 times less likely to stay in an organization than those over 50. Only 19.9% of IT workers aged 18 to 29 had a high probability year-old stay at home, compared to 48.1%. of those aged 50-70 years, according to the survey.
For some IT workers, the motivation to take up a new job in their respective fields may increase; for others, it may be under compensation. But for many, especially workers with young families, the value proposition is a job that enables them to focus on home life.
In IT, Boomers are out, wages are rising – and change is coming. As Gen X- and Y-ers take on key IT roles within enterprises, they demand not only higher wages, but better working conditions – and more vigilant managers.
“Our advice to CIOs is to implement human-centered work models for a more flexible work environment and work-life balance,” Waller said. “And work to ensure that your employees feel trusted, more powerful and more respected. That drives talent retention success and significant business results. ”
For example, offering employees a people – centered work model reduces fatigue by 45%, increases their likelihood of staying in an organization by 44% and increases employee performance by 28%, according to Gartner.
A a human-centered working model able to enhance business talents and results. To achieve this, Gartner encourages CIOs to reconsider outdated assumptions about the work, including:
- Hours of work – Progressive enterprises are empowering individuals and teams to decide when to do their best work and are pioneering new schedules such as four day week.
- Office center – The pandemic broke the myth that employees can only do real work in an office where managers can see them. Most organizations are now planning for a hybrid future that recognizes that employees can be fully productive remotely for “heads down” work, and which office is best suited for certain activities such as human connection and collaboration.
- Meetings – The culture of meetings began in the 1950s when people had to come together physically to make decisions. Now, asynchronous and synchronous collaboration tools enabling distributed decision – making, collaboration and creativity.
Mar companies begin to open offices permanently, their leadership needs to rethink how work can be accomplished with the quality of life of the employee in mind. So, what matters to employees changes. For example, younger IT workers need respect, Gartner found.
“That is much more important for younger employees than for older ones [workers], “Waller said.” We are less involved today than just one – size – fits – all approach. CIOs need to listen to what is important to employees. Younger employees intend to stay three times lower than older employees. ”
Gen Y “Millennial” employees (born in the 1980s through the mid-90s) account for more than 49% of the total workforce; Gen Xers (born 1965 to 1981) accounts for 37%; and Baby Boomers (born before 1964) have declined to just 14% of the total workforce, according to recent U.S. Bureau of Labor Statistics (BLS) data.
IT professionals are being hired at the highest speed ever, with 197,000 additional IT jobs over the past year compared to the previous 12 months, according to the BLS. The IT job market has grown over each of the past eight months.
The average length of time that IT workers stay at a company is 3.9 years, according to the latest BLS results from 2020.
Over the past year, the average CIO tenure has increased from four years, seven months to four years, eight months, according to IT employment consultancy Janco Associates and eJobDescription.com. However, this average tenure is expected to fall over the next year as the number of retirees increases and as a younger generation of IT benefits take over.
In order to retain high-level IT managers and executives, organizations need to return to the “basics,” says Lily Mok, vice president with Gartner Research. For example, companies should benchmark their salary rates more than once every two or three years. In some cases, especially for high-demand IT roles, they should reassess salaries on a quarterly basis.
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IT workers grow relentlessly, and young people respect young people – Gartner
Source link IT workers grow relentlessly, and young people respect young people – Gartner