According to a new survey by workplace learning platform TalentLMS and recruitment software Workable, 72% of tech workers have a job change on their minds, which means that businesses may soon face a major tech talent shortage. But what’s behind this great discontent? Besides pay and benefits, the top three reasons appear to be limited career progression, lack of flexibility in working hours, and toxic work environment.
Tech talent is burned out and feels stuck. More than half suffer from job burnout, and for those suffering from burnout, the chances of quitting are doubled. Lack of career progression is the top reason for thinking about jumping ship, showing that job title stagnation is a big red flag urging workers to move on. Another big deal-breaker for workers is not being valued and appreciated.
The learning and development needs of tech pros remain largely unmet, with 9 in 10 saying they want more learning opportunities. Continuous development appears to be a high-value asset for engagement: for 62%, more training and learning would make them more motivated at work.
When asked about technologies that would help them stay competitive in the job market, the majority of respondents mentioned machine learning and AI, followed by cloud-native development and blockchain. However, the results show that employers need to up their game when it comes to training initiatives.
It appears that tech employees are not being heard by organizational leaders, as 75% agree that their employers are focusing more on hiring new staff rather than investing in the existing workforce. With the job market in the grips of The Great Resignation, companies hoping to keep their tech talent should start listening and acting on new data. While the survey paints a grim picture for turnover rates in the upcoming year, companies can still do a lot to increase satisfaction and keep tech talent from leaving.
Read the full report by TalentLMS and Workable.