{"id":999691537,"date":"2023-10-24T16:41:40","date_gmt":"2023-10-24T16:41:40","guid":{"rendered":"https:\/\/dice.npgdev.com\/hiring\/?post_type=press_releases&p=999691537"},"modified":"2025-03-01T02:08:12","modified_gmt":"2025-03-01T02:08:12","slug":"10-24-23-many-tech-professionals-will-look-for-new-jobs-new-employers-in-2024","status":"publish","type":"press_releases","link":"https:\/\/dice.npgdev.com\/hiring\/media\/press-releases\/10-24-23-many-tech-professionals-will-look-for-new-jobs-new-employers-in-2024","title":{"rendered":"Many Tech Professionals Will Look for New Jobs, New Employers in 2024"},"content":{"rendered":"

With nearly one in three actively searching for a new job and 60% wanting to change employers within the next year, tech professionals remain confident and determined to find roles they want, new Dice research shows.<\/em><\/h3>\n

CENTENNIAL, Colo. October 24, 2023 \/\u00a0<\/strong>BusinessWire<\/a>\u00a0\/\u2014\u00a0<\/strong>Even with a tech recession continuing to impact the broader economy, many U.S. tech professionals are not planning to stay at their current employers. <\/span>In its annual <\/span>Tech Sentiment Report released today<\/a>, tech career marketplace <\/span>Dice<\/a> (a DHI Group, Inc. brand; NYSE: DHX) reports that nearly one-third of technology professionals are actively searching for a new job, and 60% are considering changing employers within the next year. With a <\/span>2.2% tech unemployment rate<\/a> (well below the national average of 3.8%), these job seekers know they still have room to negotiate for the benefits and salaries they want \u2014\u00a0especially if they are proficient in high-demand skills or experienced in popular tech roles. <\/span><\/p>\n

\u201cTech professionals are a very resilient group of people, and the results from our Tech Sentiment Report show both their strength of character and an understanding of their position in the market right now,\u201d said Dice CEO Art Zeile. \u201cYes, we are in the midst of what I call a tech recession, in that tech is being adversely affected while other areas are experiencing a faster recovery. But demand remains high for tech professionals who have the skills to help companies with tech infrastructure, engineering in all of its many uses, cybersecurity, and data science and management; companies simply can\u2019t afford not to employ them. Tech professionals know they\u2019re in demand, so they\u2019re continuing to search for environments that are right for them, and that means the right cultures and values, the right kinds of work and the right benefits based on their unique needs and wants.\u201d<\/span><\/p>\n

The <\/span>2023 Tech Sentiment Report<\/a> includes data and analysis on flexibility and remote work satisfaction, salary transparency expectations and the importance of employer brand. Here are a few of the key takeaways.<\/span><\/p>\n

A Continued Demand for Balance and Flexibility<\/strong><\/p>\n

Tech professionals know the specialized, in-demand roles they fill, and they will continue to expect flexibility from their employers. Work-life balance is critical (a perceived lack of it is <\/span>one of the top reasons<\/a> Gen Zers will turn down a job offer), and for many tech professionals, it didn\u2019t improve over the past year. Nearly 63% of respondents said their work-life balance hasn\u2019t improved since last year, an increase from 56% in 2022.<\/span><\/p>\n

That dissatisfaction could be tied to many companies\u2019 return-to-office mandates. Although 6 in 10 of the tech professionals we surveyed reported being very satisfied with their current remote working status, many organizations are trying different tactics to entice their employees to return to the office. Seventy-three percent of respondents <\/span>said it is \u201cextremely\u201d or \u201cvery\u201d important to have the opportunity to work remotely at least three days a week with their next role or organization.<\/p>\n

\u201cEmployers can\u2019t pretend that successful remote work environments and a focus on better work-life balance haven\u2019t been prevalent the past few years,\u201d Zeile said. \u201cYou can\u2019t put the changes in work culture back in the box and still hope to attract top tech candidates. The skilled tech professionals that companies want to hire don\u2019t want to be in the office \u20189-to-5, five days a week,\u2019 regardless of whether executives want them to fit that mold.\u201d<\/span><\/p>\n

One markedly different finding this year is the number of employers who are likely to implement a four-day workweek. Sixty-five percent of HR professionals surveyed said they are very or extremely likely to shift to a four-day model in the next year, compared to just 38% who said the same last year. This large jump could be tied to a push for four days <\/span>in other industries<\/a>, most notably playing out in the <\/span>auto industry<\/a>. \u00a0<\/span><\/p>\n

Recruiters and Hiring Managers Must Improve the Candidate Experience<\/strong><\/p>\n

A large majority of the tech professionals who participated in the survey expressed optimism about the growth of the profession. However, many are dissatisfied with their experiences as candidates and employees.<\/span><\/p>\n

While an increasing number of states have enacted salary transparency laws, companies hiring in states that don\u2019t require it should still disclose the pay range to attract skilled applicants \u2014 two-thirds of this year\u2019s respondents said they are discouraged from applying to jobs that don\u2019t disclose salary information. Even so, only 44% of HR professional respondents said all their job posts disclose salary information. For many tech professionals, a company\u2019s salary transparency is a key indicator of its commitment to pay equity; 63% said a lack of salary transparency is a signal that a company is not committed to pay equity.<\/span><\/p>\n

Tech professionals also consider an employer\u2019s brand and reputation to be extremely important when considering whether to work for that organization. As with last year\u2019s report, nearly nine in 10 tech professional respondents said a company\u2019s brand \u2014 a combination of company culture, corporate reputation, product and purpose, and commitment to diversity, equity, inclusion, and belonging \u2014 is important when looking for a new employer. <\/span><\/p>\n

Additionally, more than 80% of tech professional respondents said corporate culture is the most important component of an employer\u2019s brand; 72% said they would not apply for a higher-paying role at a company with a bad reputation.<\/span><\/p>\n

A good sign for recruiting and hiring efforts is that more HR professionals recognize the importance of a good employer brand, with more than eight in 10 indicating their reputation as an employer is \u201cextremely\u201d or \u201cvery\u201d effective at influencing candidates to join their organization.<\/span><\/p>\n

How Companies Can Plan for 2024 (And Beyond)<\/span><\/strong><\/p>\n

The emergence of generative AI and similar technologies has many worried about whether their jobs will disappear altogether in the years ahead, but for 2024, tech professionals still seem to be optimistic about the value they bring to an organization. <\/span><\/p>\n

It\u2019s impossible to pinpoint a single \u201cwhy\u201d behind the high percentage of tech professionals who want to change employers. Factors such as changing mindsets from the pandemic, the prioritization of flexible work and fear of impending layoffs amidst economic uncertainty likely all play a role. One thing that\u2019s clear: From both a hiring and retention perspective, it\u2019s more important than ever for employers to prioritize strong candidate experiences. <\/span><\/p>\n

Read more of the findings, as well as expert advice on how recruiters and HR professionals can balance the needs of tech professionals with the desires of their executive leadership to attract, hire and retain the most talented individuals in tech in <\/span>Dice\u2019s 2023 Tech Sentiment Report<\/a>.<\/span><\/p>\n

Methodology<\/span><\/u><\/strong><\/p>\n

Dice conducted two separate surveys to produce the data and insights in the 2023 Tech Sentiment Report.<\/span><\/strong><\/p>\n