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Follow on Google News | PROTECH Survey Results Reveal Gloomier Outlook on Overall EconomyPROTECH Releases its 14th Annual South Florida Tech Leadership Survey and 12th Annual Tech Talent Survey Results: More tech employees than ever would leave current employer with top reasons stated as salary and work-life balance.
By: PROTECH Economic Outlook According to IT Leadership, there was a downswing from a positive outlook on the economy last year with 73% of Tech leaders perceiving it as getting stronger, compared to 48% feeling this way this year. 20% perceived the economy as getting weaker compared to zero last year. Both IT product purchases and hiring remain resilient. 68% of Tech leaders plan to increase staff this year (compared to 67% last year) with the balance saying staff levels will remain the same. Average budget increase was the highest ever at 12% (the highest before was 11% in 2013). Workforce Turnover continues to be an issue for companies in South Florida. 56% of IT leaders (down from 69%) are concerned with losing talented IT staff members. Primary reasons cited by employers for losing staff are compensation (73%; up from 71%) followed by lack of career path (17%), benefits (6%) and company culture (4%). In response to high levels of turnover, 40% of company’s state they plan to invest more into employee training and retention programs. This is up from 33% last year. Employers have strong cause for turnover concern. A record 90% of Tech talent said they would leave their current employer for a better opportunity. The top reason was “salary”, with 38% reporting it as the main factor in leaving a position. After “salary”, “work-life balance” (15%) was stated as the second biggest reason for leaving an employer, followed by “lack of career path” and “employer instability” This is the first time “work-life balance” comes in as a top reason for leaving employers. The last time it appeared was in 2012 with only a 1% response. Further reaffirming the importance of this, in a separate question regarding top perks, “Additional vacation” was cited by 11% of employees as one of the top three perks ever received (up from 8% in 2015 and 6% in 2014). “There may be somewhat of a disconnect between employers and employees when it comes to reasons for parting ways. Both agree that compensation is the primary reason; but the percentages vary significantly with 73% of employers citing salary as key reason, compared to 38% of employees. And employers believe ‘lack of career path’ to be the second reason for losing staff, while employees cite this as third (tied with ‘employer instability’) Other Key Findings: The Tech Leadership survey reported a notable shift from direct hire to contract employees with IT leaders reporting 23% of their workforce balance being contract employees (compared to 13% last year). 44% of IT leaders report that IT budgets are adequate for their needs, up from 42% last year. 61% of IT employees reported a positive career experience, up from 60% last year and the number employees considering moving out of Florida has remained consistent (43% compared to 44% last year). Employees continue to report best perk they’ve been offered by an employer has been flextime or telecommuting (43%) followed by some form of sign-on or annual bonus (15%), additional vacation was third best perk (11%) followed by education reimbursement/ The top three technology-related priorities for IT leaders in 2015 are infrastructure upgrade (33%), new Large applications development endeavor (25%) and ERP upgrade (17%) which tied with web site redesign, and lastly new large software application purchase (8%). PROTECH surveyed over 900 IT Director to CIO level executives for its 14th annual Tech Leadership Survey; and over 16000 IT professionals for its 12th annual Tech Talent survey. All participants are located in the South Florida tri-county area. To download full survey results, visit protechitjobs.com End
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