CompTIA is reporting that tech industry employment is up by just over twenty four thousand workers in January. That’s the 14th consecutive month of tech employment growth. The January rate of tech job postings continues to track above the 12-month average by approximately 11%.2.
Because in the larger context, The percentage of people working or looking for jobs reached its largest point since before the pandemic. That’s the labor force participation rate, at 62.2% for January, higher than previously thought. So that “people not participating problem” — not so much.
If you sense the workplace is getting less formal, there’s data to back that up. In reviewing conference call transcripts, Sentieo found that swearing was up 60% in 2021. And in the analysis by Inc, that isn’t necessarily bad, as it can foster relationships and honesty.
In a report released by PRO Unlimited, who make workforce management software, researchers compared approaches across Europe with those in the US, turns out the Europeans are taking a simple approach to address quit rates — increasing pay and offering better benefits. IT talent has seen an average 12% pay increase across all five nations covered in the report. Each country has also customized their approach, such as Belgian employers have started offering private health insurance,
Dutch firms have added education stipends and reduced work hours to job postings, and Irish companies have began offering a four-day work week.
Because superficial perks are losing their luster — quoting ZDNet, According to a survey of 576 employees by workplace management platform Robin, superficial perks like ping pong tables and free cold brew still have their appeal in the new hybrid workplace, but they’re no longer as valuable to workers as there once were. Instead, employees expect businesses to support both their chosen working style and their physical and mental wellbeing – whether that’s more time off, health and wellness perks, or financial stipends for things like broadband and home-working equipment. That survey highlights that 65% of employees said their employer hadn’t created any new perks since the pandemic, and 23% said their company perks had been wiped out.
And remember, per PWC’s Pulse Survey last week, More than three-quarters of business leaders (77%) say talent attraction and retention is key for growth, and less than one-third (31%) of executives expect easier talent conditions in 2022. And in new data from AlixPartners, they worry about keeping their jobs too. 72% of CEOs fear losing their positions.
Need is up, as evidenced by job posting. Compeition for those people cannot be explained away by those not participating. The old superficial perks dont’ work, and the Europeans are saying the solution is pay increases…. all amidst pressures to keep those people in order to grow, and for CEOs of larger organizations to hold onto their job.
A little swearing might be good for industry.
Business leaders who are going to be successful are going to navigate their own path here — and assuming its a well worn, obvious pass of the masses misses the actual answer. Charting a course right for the organization’s own needs is where leadership is.