About half of IT and telecommunications workers are planning to leave their job in the next 12 months, according to a new report by HR company, Randstad.
A lack of opportunity for growth or advancement and an uncompetitive salary are cited as the main reasons for IT&T employees to walk out the door.
Randstad recently compiled its World of Work Report 2011/12, which covers more than 3000 respondents.
It indicated, 57 per cent of employees within the IT&T sector had been with their current job for less than 12 months and more than 43 per cent were planning to leave their current jobs in the next 12 months.
The increase of IT projects, progress in the National Broadband Network rollout, uptake of Cloud computing and mobile platforms, all pointed towards IT skills in hot demand.
Randstad solutions director for IT, Richard Talbot, said the report highlights trends in employee mobility and suggested there were still significant gaps in the number of skilled workers available to meet industry requirements.
"This means companies are forced into hiring more IT contractors to fill the skills gaps and more of the ‘top IT talent’ that employers are very keen not to lose from permanent positions are tempted into moving into well-paid contracting roles. This can lead to pressure on technology project costs which can ultimately have a negative impact on bottom line performance,” Talbot said.
The report shows that salary is the most important employee benefit (28 per cent) as well as flexible working options (23 per cent).
According to the report, 41 per cent of employees are expecting a 5-10 per cent salary increase, with 19 per cent looking for an increase of 10 per cent or more this year. A strong workforce culture and convenient location was also important for IT&T jobseekers.
“Employers are struggling to meet these demands in their permanent workforce, as many are still feeling the effects of the global financial crisis. It is therefore important for businesses to offer a range of benefits to complement remuneration packages, keeping in mind that salary is only a part of the broader picture,” he said.
A good work-life balance was the main reason 57 per cent of respondents said they would stay in their job in the next 12 months.
“Employers have identified retaining top performers (25 per cent) as their main human capital challenge, so we expect retention strategies to attract strong investment in the coming year,” he said.
“While salary increases are not always possible, especially considering the strong wage growth already seen in IT, employers are well-advised to investigate other options such as the provision of flexible working hours and promoting opportunities for growth and development.
“If leveraged correctly, these alternative benefits can make all the difference to your employee retention efforts and would help prevent your best talent from walking out the door.”