53% of IT professionals may look for a new job in next 12 months
1 min read 20 Oct 2022, 05:20 PM ISTAmong IT professionals who changed employers in the past year, the top three reasons for leaving were better compensation, a lack of training and development, and a lack of work-life balance
PremiumMore than half of the decision-makers in the information technology sector see a skill set gap in their teams, according to a study by skill development platform Skillsoft. More than half the professionals in the sector will be looking for a new job over the next 12 months.
The report -2022 IT Skills and Salary Report- says that 66% of IT decision-makers see skills gaps in their teams.
Although this is 10% less than the gap noted last year, attrition remains a critical concern. “The industry is facing another pressing challenge centered around talent attrition, with more than half (53%) of all respondents extremely or somewhat likely to look for a new job in the next 12 months," said the report.
The study highlighted the most in-demand skills and certifications, average compensation, growth opportunities and career sentiment amongst IT professionals.
The changes in digital transformation outpaced the technical skill set that many IT professionals have. This has forced tech firms to focus on learning and development, have homegrown talent than take in lateral hires.
According to the study, among IT professionals who changed employers in the past year, the top three reasons for leaving were better compensation, a lack of training and development, and a lack of work-life balance, respectively.
Meanwhile, even as high attrition rates continue to hurt the information technology services sector, firms seem to have begun cutting their hiring plans. According to a report by specialist staffing firm, Xpheno, the IT services sector saw only 70,000 active jobs as of September, the lowest in 17 months. This is also the sharpest year-on-year drop in active job volumes, of 36%, according to the report.
September was also the worst month in terms of overall active job openings across sectors, the report said. Overall job numbers stood at 210,000 as against 260,000 in August 2022.
