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Tech Pros Quitting Over Salary Stagnation, Stress

To retain top tech talent, organizations must look beyond financial compensation to provide growth opportunities and wellbeing.

Amid a tight IT labor market, tech professionals are citing lack of salary increases and dim promotional prospects as top reasons to leave their jobs, according to a recent survey of more than 600 IT pros.

The Jefferson Frank study was based on data derived from the 2022-2023 Careers & Hiring Guides from the Tenth Revolution Group and its recruitment brands.

The survey group of tech professionals working across AWS, Salesforce, Microsoft 365, Azure, and NetSuite, revealed a desire for new challenges, along with a lack of leadership and company vision were also reasons compelling tech workers to jump ship.

To retain top talent, business leaders must promote a culture of transparency and opportunity. While the study noted fair compensation will "always be critical," tech employees also want work-life balance guarantees in a sector where burnout is a persistent issue.

Jefferson Frank Chairman and CEO James Lloyd-Townshend told InformationWeek via email that opening a conversation with employees about workplace culture should be a cornerstone of any approach to talent retention.

He notes concerns around company culture ranked highly in the research among the reasons tech professionals quit.

"A holistic approach here, paired with concrete plans for implementation, is a good route to ensuring your staff want to stay with you as their careers develop," Lloyd-Townshend says.

He adds it's a conversation that absolutely must attend to questions of employee wellbeing as well, because burnout is still such a serious issue in tech sector.

"Our research shows that a tangible sense of progression is important to tech professionals, so clear career tracks are absolutely essential," he notes. "This must include detailed responsibility maps and team organization structures as well."

Flexibility, Promotional Opportunities

Lloyd-Townshend says mentorship schemes, support for ongoing learning, and leadership training are all good measures to consider, demonstrating a company-wide commitment to employees and their futures at the company. …

Read the rest of this article on InformationWeek.

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