Employers focusing on retention
Employers focusing on retention - Among the interesting bits of information contained in Dice's annual salary survey was data suggesting that employers are doing more to hang on to talented IT staffers.
In the 2011 survey, the percentage of respondents who said they were given no motivation was lower than it was in 2009 and 2010. And when respondents were asked to name their primary motivators, the percentages of those who cited increased compensation or a promotion or new title were higher this year than in the past. Dropping as primary motivators were more interesting or challenging assignments and flexible hours.
One in four organizations is looking to hire additional IT staff within the next month
There was a net increase of 1,400 IT jobs in February according to the latest BLS data. There was an improvement in computer system design and related services accounted of 7,200 jobs, data processing hosting 1,100, and other information services 300 jobs, and but was offset by a loss of 7,200 jobs in telecommunications. In the last three months there has been a loss of 2,00 jobs with a loss of 11,700 jobs in telecommunications.
Janco reports some growth in the job market but it is sluggish
In the last three (3) month the IT Job market grew by 4,300. This chart is not the originally published one, rather it is updated with the current data based on the analysis by Janco Associates, Inc. For the latest IT Employment Data click here.
Updated with the latest IT Job Market statistics
Historic IT Job Market Growth Stops in CY 2023
For current analysis of this data, go IT Job Market Size to see the historic job market growth trend data
Data as of the end of October 2023
Historic IT Job Market Size
Data complied by Janco Associates with data as of November 2023
IT Staff Retention More Difficult
With the improved economy, IT professionals now have more options. No longer do they have to stay in existing jobs that have limited career potential and salaries that are capped. IT pros can now look around and move to organizations that provide the more and better career opportunitions. In many cases they can leave for compensation increasese that are in excess of 10% above what they are paid now.
IT Job Families
Both in an individual’s personal career planning and an enterprise’s staffing, promotion and compensation it is important to have benchmarks on the levels that individuals are at. To that end, one of the best objective ways to meet this goal is to have formal job descriptions and clear paths for promotion and compensation.
A job family classification system is one that defines how individuals can grow into higher level positions over time by providing benchmarks milestones that need to be achieved as they advance over time. This in time, impacts the compensation that is paid in a fair and objective manner. A job family is a series of progressively higher, related jobs distinguished by levels of knowledge, skills, and abilities (competencies) and other factors, and providing promotional opportunities over time. With this in place, along with full detail job descriptions, it is easy for both the staff member and the management team to understand what is expected and were the long term options for the staff member are.
The primary driver for the classification system are the position descriptions that are assigned to a particular family and the job level is based on the job family classification and level descriptions. All positions at the same level have the same salary grade throughout an enterprise.
IT Job family classification system has been proven to be a significant time saver and productivity improvement tool for both the Human Resource Department and IT management function.