Tech Pros Less Likely to Leave Jobs in 2020
Dice released their annual Tech Salary Report, revealing trends to watch out for in 2020 - one being that less people plan to change employers this year. This means hiring managers are going to struggle now more than ever to find talent to fill their job openings.
Key highlights from the report:
- Nationally, average annual pay in the technology industry hit $94,000 in 2019, a 1.3% increase from 2018.
- Data engineer and data scientist saw year-over-year growth of 9.3% and 11.4%, respectively.
- 38% of technologists said they are likely to change employers in 2020, down from 45% in 2019.
- As for key concerns in today's career landscape, 17% of technologists are worried about position/contract elimination,12% are concerned about finding a new position that actually matches their skill set, and 11% express worry about keeping their skills up to date.
- Emerging benefits are a key interest this year such as college tuition reimbursement (which 48% expressed interest in, though only 25% report receiving it as a benefit), wellness programs (45% expressed interest, up 6% from last year), maternity/paternity leave (45%, up 11% from last year), and paid volunteer opportunities (35%, up 7% from last year).
- Remote work is desired by more than half of technologists as 61% of survey respondents said that they wanted to work remotely at least half the time, but only 24% of them have the opportunity to do so.
- Work-life balance was the top-rated motivator employers provided to technologists in 2019 (40%), with higher rates than recognition (33%), health or retirement benefits (31%), and higher compensation or promotion (26%).
Atlanta saw a 9.5% year-over-year average salary increase to $94,084 and had the fourth-most tech job postings of any U.S. city (narrowly behind Chicago), suggesting that demand for tech professionals is growing along with salaries.
Dallas-Fort Worth's tech job postings rose by 5% in 2019 and saw 5.8% year-over-year salary growth to $95,002 - more than Austin, who is typically thought as the tech hub of Texas.
"We're excited to share that this year's report brought to light a new tool for balancing the demands of technology work. With over a quarter of technologists seeking opportunities to be more creative in their jobs, employers can meet this need by offering special projects and empowering technologists to approach projects in distinct and creative ways, allowing room for continued innovation and in turn, increased satisfaction for technologists," said Michelle Marian, CMO of DHI Group, Inc., parent company of Dice.