Tech Employment Trends
How to Attract and Retain a High-Performing Team During Uncertain Times
The Background and Methodology
Given the economic uncertainty in today’s world, The Doyle Group set out to understand how companies are responding to the current climate and changing their hiring practices in a competitive tech space. The Doyle Group surveyed our network of tech professionals to investigate the impact that the economic climate has had on overall business operations and employment. Results are based on responses from professionals across a variety of IT roles, industries, and employment status. Respondents from over 10 leading industries participated, from companies ranging 1 – 1,000+ employees. Responses were collected in Q3 2022.
The Stats
The survey found that, while many companies are slowing down, others are picking up. This is evident in the responses received around current hiring practices. Only 28 percent of those surveyed indicated that their company has put a hiring freeze into place, while over half of respondents report that their organization is actively hiring. Additionally, more than half of respondents indicated that the economic climate has not had a negative impact on their company’s overall business operations.
Key Findings
- Nearly 60% of respondents indicated that projects were being added or were moving forward as planned, unaffected by the uncertainty of the economic climate
- Top concerns for hiring managers are: 1. finding the right candidates for their open roles, 2. having the budget to attract the right talent and 3. retaining their existing talent
- To strengthen employee and consultant commitment, respondents told us they are looking for their leadership to provide 3 key actions: full transparency (88%), clear objectives and goals (83%) and frequent communication (78%).
Attracting Talent
When surveyed, hiring managers indicated that their top concern is finding the right talent for their open roles. Attracting the right tech talent has always been top of mind for clients of The Doyle Group —and the 2022 economy has only further emphasized this priority. Some ways we have seen success include:
- Ensuring job descriptions are written in a compelling way that highlight offerings that are important to candidates. This could include a flexible work schedule, hybrid or remote work environment, and growth opportunities.
- Being flexible when seeking the “perfect candidate.” Because of the tight market, The Doyle Group is encouraging clients to forego the 5 – 10 years of direct experience with a technology. Instead, ask if this person fits into your company culture and has an appetite to learn and grow.
Developing Talent
Whether in a consulting role, full-time position or IT leadership, employees have a desire to be challenged. In our survey, over 60 percent of respondents indicated that taking on new and challenging projects is “very important” to their employee experience. Some ways to support your employees in this goal is to provide educational resources such as Udemy or Guild Education, and by providing communities where they can connect with and learn from one another, like Slack or Mighty Networks.
Retaining Talent
When surveyed about which activities are most important to boost commitment to their company, respondents overwhelmingly indicated that transparency (88%), clear company goals (83%) and frequent communication (78%) are the top three most important ways to stay engaged during turbulent times. If you don’t yet have a regular communication in place for your team, now is the time to implement one.
