Nearly a third of technology professionals are actively searching for a new job, according to the annual Tech Sentiment Report released Oct. 24 by tech jobs website Dice, a DHI Group Inc. (NYSE: DHX) brand. In addition, 60% are considering changing employers within the next year, up from 52% in last year’s report.
With a tech unemployment rate of 2.2%, 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 — especially if they are proficient in high-demand skills or experienced in popular tech roles, according to the report.
“Tech 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,” Dice CEO Art Zeile said in a press release.
“Yes, 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,” Zeile said. “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’t afford not to employ them.”
He noted tech professionals know they’re in demand, so they’re continuing to search for environments that are right for them and offer the right cultures and values, the right kinds of work and the right benefits based on their unique needs and wants.
Other findings:
Continued demand for balance and flexibility. Nearly 63% of respondents said their work-life balance hasn’t improved since last year, an increase from 56% in 2022. In addition, 73% said it is “extremely” or “very” important to have the opportunity to work remotely at least three days a week with their next role or organization.
Salary transparency. Many tech professionals reported that a company’s salary transparency is a key indicator of its commitment to pay equity, with 63% saying a lack of salary transparency is a signal that a company is not committed to pay equity and 75% agreeing that not showing the salary for a position makes them think it will be less competitive or lower than average. Despite this, only 44% of HR professionals surveyed said all of their job posts disclose pay information.
Employer brand and company culture. Nearly nine in 10 tech professionals said that an employer's brand is important when considering a new role, and a majority said they would not apply for a higher-paying role at a company with a bad reputation. In addition, more than 80% of tech professional respondents said corporate culture is the most important component of an employer’s brand.
Dice conducted two separate surveys to produce the 2023 Tech Sentiment Report. The Q2 2023 Technology Professionals Sentiment Survey, conducted online between June 20 and July 2, generated 709 qualified responses from fully employed technology professionals residing in the US; the Q3 2023 Employer Sentiment Survey, conducted between July 19 and July 27, generated 224 qualified responses from human resources professionals from direct-hire organizations that recruit and employ tech talent. The report also includes historical trend analyses from the Q4 2022 Salary Survey and the Q3 2022 Technology Professional Sentiment Survey.
