New research tallies top ten reasons tech professionals quit and what businesses can do.
In the context of a widening digital skills gap, understanding what motivates tech professionals already in the sector, and why they would choose to quit their job is a critical subject for businesses to face.
Addressing the skills gap has to be a two-fold initiative: the tech sector needs more new talent, but it also has to hold onto those already present. Furthermore, it has to offer them sustainable career trajectories to avoid net-neutral outcomes.
To contribute actionable insights to this vital conversation around retention, Jefferson Frank, a Tenth Revolution Group company, has mined new data to uncover the top ten reasons tech professionals quit and look for other employers.
|Why are you looking to change employer in the next 12 months?
|Lack of salary increase / earnings increase
|Lack of career and promotional prospects
|Need new challenges
|Lack of leadership and vision
|Working environment / company culture
|I’m underutilised in my current role / company
|Lack of exposure to latest X products
|To pursue a better work-life balance
|I’m underappreciated in my current company
|I’m over-stressed / over-worked
Responding to this new data, Jefferson Frank Chairman and CEO James Lloyd-Townshend commented:
“These new insights are like a retention checklist. I’m not surprised that a lack of salary increase is at the top – fair compensation will always be critical. What’s interesting is that the other top reasons broadly fall into three categories: progression, purpose, and working culture. Re-invigorating these elements will give businesses the best chance of holding onto their tech talent.”James Lloyd – Townshend
Retention Tip #1: Think About Progression
Tech professionals want clear pathways and career tracks to give them more incentive to stay with a business in the longer term. This needs to include clarity around new responsibilities and initiatives at each stage in order to avoid any sensation of the work becoming too stale or employees feeling like they’re being underutilised.
Retention Tip #2: Think About Purpose
Organisational purpose has never been more important. Professionals want to feel engaged and connected to what they’re doing. Ensuring your business is keeping up with developments in the space is essential here. This because tech professionals tend to want to be on the cutting edge. But leaders also have to embed this at the leadership level. A clear and well-communicated sense of purpose and company trajectory will radiate outwards in a positive way for staff.
Retention Tip #3: Think About Culture
Burnout continues to be a serious subject in tech, and this study reflects that in its tally. Wellbeing, work-life balance, and stress levels all need careful address via the development of a healthy workplace culture that takes the needs of all employees seriously. Solving these issues cannot happen at the individual level and demand company-wide solutions that prioritize wellbeing for its own sake rather than solely for utilitarian reasons. Otherwise, burnout will only continue to take people out of the sector.
Statistics were derived from the latest (2022-2023) Careers & Hiring Guides offered by Tenth Revolution Group and its recruitment brands. The total sample size for this study was 607. The data corresponds to tech professionals working across Amazon Web Services, Salesforce. Also, Microsoft 365, Azure, and Business Applications, as well as NetSuite.