Job Satisfaction and Outlook
Technology professionals have a lot to like about their jobs compared to other professions — more remote work opportunities, access to innovative projects and higher pay, to name a few. However, they can and do still experience dissatisfaction over aspects of their jobs.
As employers, you know the employee experience has always been critical to retention, and in today’s hyper-competitive market for tech talent, investment in your retention strategies has become even more vital. Regularly evaluating employee satisfaction through feedback surveys is a great way to take the pulse on employee experience. If you haven’t done that in a while or are curious about how your employees’ sentiment compares to other tech professions across industries, dive into the data we collected from technology professionals on Dice below.
Changing Employers
More than half of technology professionals (52%) responded they are likely to change employers in the next year — that's up from the 44% we reported last year. Whether it’s that they are less satisfied with their current roles in general, specific aspects have become deal-breakers or they’re just interested in taking advantage of the wealth of opportunities available to them, the number of tech professionals likely to make a move is a notable increase over 2021.
For HR professionals, recruiters and managers looking to hire tech talent, the increase in technology professionals likely to change jobs represents a great opportunity. The sentiment could both lead to more openness from active job seekers, as well as increased response rates from tech candidates who are more passively open to new opportunities. To make sure your candidate outreach is optimized for the highest response rate possible, check out what Dice Technical Recruiter, Ashley Conley, suggests in this on-demand webinar about sourcing strategies in today’s competitive market.
Tech professionals who reported they are likely to change employers in the next year:
Q3 2022 Tech Sentiment Survey
Q4 2021 Salary Survey
More than half of technology professionals (52%) responded they are likely to change employers in the next year — that's up from the 44% we reported last year. Whether it’s that they are less satisfied with their current roles in general, specific aspects have become deal-breakers or they’re just interested in taking advantage of the wealth of opportunities available to them, the number of tech professionals likely to make a move is a notable increase over 2021.
For HR professionals, recruiters and managers looking to hire tech talent, the increase in technology professionals likely to change jobs represents a great opportunity. The sentiment could both lead to more openness from active job seekers, as well as increased response rates from tech candidates who are more passively open to new opportunities. To make sure your candidate outreach is optimized for the highest response rate possible, check out what Dice Technical Recruiter, Ashley Conley, suggests in this on-demand webinar about sourcing strategies in today’s competitive market.
Tech professionals who reported they are likely to change employers in the next year:
Q3 2022 Tech Sentiment Survey
Q4 2021 Salary Survey
Work-Life Balance
The majority of technology professionals reported that their work-life balance is better than it was during the pandemic, with just 16% of respondents indicating their work-life balance is “worse” (compared to 24% in 2021). Many of the open-ended responses to this question in our survey pointed to a change in employer that supported this renewed sense of balance.
Thinking about your work-life balance now, would you say your work-life balance is better, the same or worse than it was before the pandemic?
Thinking about your work-life balance now, would you say your work-life balance is better, the same or worse than it was before the pandemic?
Organizations that can provide technology professionals with a healthy work-life balance through things like focusing on health, restricting working hours, encouraging vacation time and instituting options for flexible work will continue to win talent in today’s competitive market. Consistency is critical here; companies must show tech professionals (and all employees) that their words on wellness are backed up by actions, and that employee wellness plays a key part in the process for each strategic decision (not just when it’s more convenient for the organization to do so).
Burnout is still a very real concern and can impact anyone. Making sure your organization truly prioritizes employees’ well-being and has guardrails in place that empower employees to speak up when they are on a path to burnout can set you apart and attract tech talent. Many organizations, both those that are tech-centric and those not traditionally tech-focused, foster cultures where burnout and overtime are rewarded, and tech professionals are very sensitive to these types of environments and will avoid or quickly leave them.
Merit Increases
One likely contributing factor to growing openness to changing employers is the gap between actual merit increases and what technology professionals expected to receive. Those surveyed in our study received an average merit increase of 4.8% (with more than half receiving 3% or less). However, and despite the average tech salary breaking six figures this year, they expected to receive an average merit increase of 5.2%.
Actual Merit Increase vs. Expected Merit Increase Reported by Tech Professionals
Actual Merit Increase vs. Expected Merit Increase Reported by Tech Professionals
If that expected merit increase feels high, consider inflation in the U.S. leveling out to approximately 8% this year (a 40-year high) which is nearly double the average merit increase awarded to technology professionals.
Organizations do appear to be doing what they can in terms of increasing monetary compensation though. When asked if their organization has done anything to address labor market demand and inflation, 51% of HR professionals responded that their organization has added or increased sign-on bonuses and 48% of HR professionals indicated their organization has added or increased retention bonuses. Fourteen percent, however, indicated their organization has not done anything to address labor market demands and inflation.
If your organization is struggling to keep up with inflation — as most companies are — consider other incentives or compensation you may be able to offer technology professionals to keep them, like additional paid time off, remote and flexible work options or training and education opportunities — all of which were ranked as important to tech professionals in the Dice 2022 Tech Salary Report.
Outlook on Industry and Tech Profession
More than one-third of technology professionals indicated they feel “very pessimistic” about the economy. This is a significant increase from the 12% of tech professionals who responded this way in last year’s report. While our survey was conducted in the summer of 2022 when gas prices had soared and reports of potential recession were high, there is still clearly uncertainty about near-term impacts and future of the U.S. economy.
Thinking about next year, what is your overall confidence level surrounding economic conditions?
Thinking about next year, what is your overall confidence level surrounding economic conditions?
When asked about their outlook of the tech profession over the next five years, most tech professionals agree that demand for tech talent shows little sign of slowing, with 84% of respondents indicating they feel the tech profession will grow significantly or slightly from where it is now.
Thinking specifically about the tech profession and its outlook over the next five years, please select which statement you believe is true.
I believe the tech profession in the next five years will…
Technology professionals’ uncertainty about the economy could lend itself to boosting retention, with some employees unwilling to risk leaving a stable opportunity not knowing what the next 6-12 months will hold. However, it’s not something employers should count on, as tech professionals also clearly understand that the demand for their skillset isn’t going anywhere.
Remember that more than half of tech professionals indicated they are likely to change employers in the next year — and some of them may be considering starting their own business venture or joining the gig economy for more autonomous and flexible work.
Technology professionals’ uncertainty about the economy could lend itself to boosting retention, with some employees unwilling to risk leaving a stable opportunity not knowing what the next 6-12 months will hold. However, it’s not something employers should count on, as tech professionals also clearly understand that the demand for their skillset isn’t going anywhere.
Remember that more than half of tech professionals indicated they are likely to change employers in the next year — and some of them may be considering starting their own business venture or joining the gig economy for more autonomous and flexible work.