Boca Raton, FL, March 11, 2016 --(PR.com
)-- Two surveys released by leading South Florida information technology (IT) search and staffing firm, PROTECH, reveal insight into the South Florida IT marketplace.
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).
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”which tied at 9%. “Employer instability” was not cited at all in last year’s Tech Talent survey as a reason for leaving a current employer, which could mean employees too are sensing a weakening economy with companies starting to run into financial trouble.
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’) after ‘work-life balance’. Telecommuting and flexible work schedules are becoming more popular with the technology available today, and I believe employees see these types of accommodations contributing to a better work-life balance formula. Employers may be missing a good opportunity to reduce increasing salary pressure by providing more work-life balance incentives to attract and retain key staff,” said Deborah Vazquez, PROTECH CEO.
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/training (8%), equity (8%), retirement/401k (7%), company car/car allowance (4%), 100% health coverage (3%) and relocation (1%).
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