Tech jobs have been in demand since the start of the digital revolution. Now, virtually all job types across industries have opened up amid waves of people leaving their positions. Unsurprisingly, this Great Resignation, as some have dubbed it, has heavily impacted the tech jobs market.
In 2021, an average 3.98 million workers quit their jobs each month, the highest average since the Bureau of Labor Statistics (BLS) started reporting. That figure did not drop below 4 million between June and December. So, what’s behind the Great Resignation, and how has it affected the existing tech gap?
Even before the Great Resignation, tech talent experienced significant shortages. Tech jobs still
This pre-pandemic talent shortage was mostly a matter of simple supply and demand. Technology adoption far outpaced the number of people who pursued related degrees, certifications and careers. With the tech share of the U.S. GDP increasing sixfold since 1980, it’s little wonder that supply didn’t couldn’t keep up with demand.
That’s not to say that the talent pool didn’t also grow. The number of people achieving STEM bachelor’s degrees in the U.S. rose
While the Great Resignation didn’t cause the tech talent gap, it worsened it. Recent reports suggest that
Qualified tech workers were already difficult to find in such a competitive market. Now, with many current employees leaving their roles, businesses will face an even greater challenge in acquiring tech talent.
So, where did the Great Resignation come from? Worker attitudes in the tech industry reflect what many employees across sectors feel. Most of it comes down to feeling undervalued in their current roles, and the opening of the job market amid COVID-19 provides opportunities for employees to pursue instead.
A recent survey found that
Tech talent isn’t becoming hard to retain just because other companies have more competitive offers. It’s largely a matter of how businesses treat their staff.
These causes behind the Great Resignation illuminate the way forward. Businesses should focus less on attracting new workers and more on ensuring they’re enabling their current workforce. There’s economic reasoning here, too, as it costs
The most straightforward way to retain current employees is to raise salaries and benefits, but that may not be the most important change. Businesses must also invest in their career development. Providing more upward mobility, learning paths and reskilling or upskilling opportunities will offer the long-term value tech workers want.
Flexibility is another major consideration. As the previous study highlights, a lack of flexibility drives many tech employees away. If businesses offered more hybrid work opportunities and flexible hours, their employees would be more motivated to stay.
Companies must also address persistent workplace toxicity in tech. A shocking
The Great Resignation has widened an already substantial tech talent gap. While this obstacle is imposing, it’s not impossible to overcome. This movement should serve as a wake-up call for tech companies and other businesses across the globe.
If companies pay more attention to what employees want at work, they can retain more staff. As they create more positive, engaging work environments, other employees will want to come work for them, too.