# Hiring boom adds pressure to firms’ retention plans
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-09-23
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: IT and Technology Job Market Trends Revealed
Meta Description: Discover the latest findings from Robert Half Technology UK on changing trends in IT job market, including high turnover rates, skills shortage, and strategies
URL: https://financedigest.com/hiring-boom-adds-pressure-to-firms-retention-planshtml

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New research revealed by recruitment specialist [Robert Half Technology UK](https://www.roberthalf.co.uk/) suggests that the IT and technology market is changing with average permanent employee tenure falling.  According to Chief Information Officers (CIOs), an increase in job opportunities on the market (48%), stagnant career prospects (43%) and a desire for more diverse career experiences (39%) all contribute to increased levels of voluntary employee turnover. High workloads and stress (27%) and a poor work–life balance (18%) also feature as top reasons for employees to look for jobs elsewhere.

As demand for technology talent continues to rise, businesses are facing a skills shortage of experienced IT professionals, with three in 10 (30%), struggling to find candidates with the requisite skills to do the job. Interestingly, 68% of CIOs said they plan to increase the number of [contract professionals over the next](https://www.financedigest.com/the-next-upcoming-years-to-see-the-oral-solid-dosage-contract-manufacturing-market-integrating-constructive-innovation.html "The Next Upcoming Years To See The Oral Solid Dosage Contract Manufacturing Market Integrating Constructive Innovation") 12 months, as they look to quickly fill gaps. This [approach is most prevalent in IT security](https://www.financedigest.com/as-saas-grows-financial-services-must-rethink-their-security-approach.html "As SaaS grows, financial services must rethink their security approach"), networking and software/application development.

“As the technology landscape continues to evolve at a rapid rate, savvy technology professionals are looking for [opportunities where they can continue to be challenged](https://www.financedigest.com/extracorporeal-co2-removal-market-in-depth-analysis-by-trends-opportunities-drivers-challenges-and-growth-factors-by-2026.html "Extracorporeal CO2 Removal Market: In-Depth Analysis by Trends, Opportunities, Drivers, Challenges and Growth Factors by 2026") and add to their expertise” said Neil Owen, Director at Robert Half Technology UK. “To compete effectively in the current job market, not only do [businesses need to offer attractive salary packages but they need to sell candidates on the opportunity](https://www.financedigest.com/title-gallium-68-market-research-methodology-business-opportunities-and-analysis-report-by-2031.html "Gallium-68 Market Research Methodology, Business Opportunities and Analysis Report by 2031") it provides their career. Outlining the career development opportunities, offering an exciting business model, staying at the forefront of [innovation and using the latest technologies](https://www.financedigest.com/financial-technology-fintech-how-to-navigate-the-latest-trends-and-innovations.html "Financial Technology (FinTech): How to Navigate the Latest Trends and Innovations") are all valuable factors for both attracting and retaining key employees.”

Employees are typically happiest during their first year in a role. To maintain this, businesses must look to build an environment that encourages a good work-life balance, creates worthwhile work, and enables staff to feel appreciated and accomplished in their roles.

“The departure of a single employee can turn departments upside down, so imagine the chasm left behind when multiple professionals, from the same department, leave a company,” continued Owen. “Advanced skills and knowledge are difficult and expensive to replace so going the extra mile to ensure employees feel fulfilled, valued and have a clear path to achieving their goals, will be key to retaining the best talent”.


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