PROTECH Survey Results Show Best Ever Economic Outlook among IT leaders, Strongest IT Hiring Forecast and Record Levels of Concern over Losing IT Talent
PROTECH Releases its 13th Annual South Florida Tech Leadership Survey and 11th Annual Tech Talent Survey Results.
March 17, 2015 – Boca Raton, FL. Two surveys released by leading South Florida information technology (IT) search and staffing firm, PROTECH, reveal insight into the South Florida IT marketplace. As the economy continues to strengthen and more opportunities arise for IT talent on a global level, employer concerns peak about losing talent (69%) with a third reporting employee training and retention as a top priority. 88% of employees are willing to change jobs with better compensation and leadership quality cited as most important when considering a job offer. Company stability, once deemed important by job candidates, is no longer a top factor.
“We continue to see a strong shift from an employer-driven market to a candidate-driven market, where candidates are weighing multiple offers and sign-on bonuses are coming back,” Deborah Vazquez, CEO of PROTECH said.
According to the 2015 South Florida Tech Leadership Survey, there is a strong perception of the economic conditions. 73% of IT leaders perceive the overall economy is getting stronger, up significantly from only 47% last year. And strong hiring activity is predicted to continue into 2015 with 81% of IT leaders ranking the IT industry as being “very strong” in terms of hiring activity, up from 56% last year.
2015 IT budgets have also increased 10% compared to 9% last year. 42% of IT leaders report that IT budgets are adequate for their needs, up from only 37% last year. 69% of IT leaders (up from 63%) are concerned with losing talented IT staff members. Primary reasons cited by employers for losing staff are compensation (71%) followed by lack of career path (18%), benefits (6%) and company culture (4%).
The 2015 South Florida Tech TALENT Survey results confirm the fears of IT leaders with 88% of employees willing to change employers. Top reasons were cited as being salary (42%), company culture (16%), and lack of career path (15%). Salary has been consistently ranked number one, however, company culture has been the fastest moving of the three, going from raking fifth in 2013 to third last year and is now the second most important reason for employees who are considering leaving their current employer.
Employees reported an average 2014 pay increase of 5%, down from 6% in 2013. However, 62% 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 (44% compared to 45% last year). Employees report that the best perk they’ve been offered by an employer has been flextime or telecommuting followed by some form of bonus, and equity.
“With global demand outpacing supply for many IT skills, and South Florida salary levels lagging other markets, the competition remains fierce for the talent that is available. And while we’ve seen a steady increase in salaries, we have far to go compared to what other markets are paying for the same skills,” said Vazquez.
The top three technology-related priorities for IT leaders in 2015 are Infrastructure upgrade (33%), Redesign current website (32%), and New large application development endeavor (26%). The Tech Leadership survey reports a shift from direct hire to contract employment with IT leaders reporting 13% of their workforce are contract (compared to 8% last year).
There is also a significant shift over last year in what candidates consider most important in a job offer according to the Tech Talent Survey. Although salary continued to remain the top reason, leadership quality moved from fifth to second and stability dropped from second to ninth.
“As the economy and company health have stabilized from previous years, employees today can afford to be more selective and therefore are beginning to pay more importance to leadership quality, as well as corporate culture and work environment in general,” Vazquez commented.
PROTECH surveyed almost 900 IT Director to CIO level executives for its 13th annual Tech Leadership Survey; and over 22000 IT professionals for its 11th annual Tech Talent survey. All participants are located in the South Florida tri-county area.
PROTECH is a full-service firm specializing in IT consulting and careers, providing the right talent and solutions to top-tier companies through their IT Staffing, Technology Sales Recruitment, and Executive Search services. Their seasoned team of IT recruiters have worked in the IT industry with high-growth start-ups to Fortune 500 companies. PROTECH’s clients have unmatched access to an extensive network of professionals and resources in the IT industry. For more information about how PROTECH can help you hire or get hired, please visit http://protechitjobs.com.
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