Trends in Technology Talent: The Benchmark IT Tech Pro Survey

Getting a pulse on trends in technology talent is a challenge, even for those who recruit, hire, and manage them for a living. In 2024, hiring managers and tech professionals are navigating a landscape of cautious optimism amid ongoing uncertainties. Against this backdrop, an emphasis on innovation, digital transformation, and strategic investment continues in key areas such as artificial intelligence (AI), cloud computing, and cybersecurity.

AI is playing a significant role in driving enterprise transformation and emerging technologies across all industries. It's projected that by 2026, 80% of enterprises will have incorporated generative AI and machine learning into their operations, compared to only 5% thus far. This shift is prompting business leaders to invest in digital transformation efforts, with AI as a crucial driver in multiple technology trends.

Businesses are also seeing a significant focus on cybersecurity, with an emphasis on governance, to ensure best practices in digital security and data operations. Companies face a continued skills shortage, particularly in cybersecurity, and are taking various approaches to address this challenge, including increased spending on cybersecurity, upskilling employees, and pushing to hire specialists.

"Companies face a continued skills shortage, particularly in cybersecurity."

Further, IT spending in 2024 and beyond is expected to concentrate primarily on software and IT services, especially in areas related to cloud transformation strategies. Despite a cautious approach to IT spending due to economic uncertainties, businesses continue to prioritize investments in digital transformation, advanced technologies, and on-staff expertise.

Key Insights on Technology Workplace Trends

The rapid scaling of pandemic-era hiring, followed by massive layoffs and an uncertain economy, has created a mix of disillusionment and change. Key areas like AI, cloud computing, and cybersecurity are reshaping the demand for tech talent, creating a dual challenge: navigating rapid technological change and bridging a widening skills gap.

For those who recruit, hire, and manage tech talent, the challenge extends beyond filling positions. It’s about identifying and nurturing talent adaptable enough to handle these complex and fluid demands. It’s also about understanding their attitudes about the employment landscape and the opportunities it provides.

The annual Benchmark IT Technology Pro Survey offers insights into the evolving preferences and perspectives of tech professionals, which are crucial for informed decision-making. In Q4 2023, Benchmark IT fielded responses from over 560 technology professionals across various positions, industries, and company sizes. Major takeaways include:

Remote Work Sentiment:

In 2023, productivity saw double-digit gains, while those agreeing that remote work improved their quality of life declined.

Pros: Tech professionals value the improved work-life balance that remote work brings and initially reported increased productivity and quality of life.

Cons: 2023 saw increased concern that remote work could limit career advancement. There's also an indication that social connection with co-workers, while improving, remains a challenge.

Career Advancement:

Respondents reported an increasing belief that working on-site is essential for career growth, particularly for those newer to the workforce. This could reflect a renewed belief that in-person networking, mentorship, and visibility impact professional development and advancement.

"In-person networking, mentorship, and visibility impact professional development and advancement."

Tech professionals are increasingly concerned that remote work could hinder career growth. The extended duration of working remotely and the potential challenges of advancing outside a conventional office setting are possible causes for these changes.
Candidates are more open to considering a five-day, in-office work week. Resistance to interviewing for on-site-based positions declined across all age groups.

"Resistance to interviewing for on-site-based positions declined across all age groups."

Quality of Life vs. Productivity

The idea that working remotely improves quality of life has decreased across all age groups.

Despite that drop, many report increased productivity. This growing paradox suggests that the long-term impacts of remote work are still unclear.

Employment Landscape:

Tech professionals are less optimistic about their job prospects in the coming year than last year. The belief that "good positions are hard to find" has increased by 22%, indicating that while jobs may be available, ones offering fulfillment and career advancement are scarce.

"The belief that 'good positions are hard to find' has increased by 22%."

The perception that employers are inflexible and unwilling to negotiate job terms has risen by 22%. This suggests a power shift towards employers, possibly because of economic reasons.

There is also a significant increase in talent that intends to change jobs in the next 12 months, with 68% of respondents reporting that they plan to make a job switch in the next year.

Download the 2024 Salary and Hiring Guide from Benchmark IT!

Tech Workforce Insights: Enhancing Employee Engagement

Understanding tech employees' perspectives and beliefs is crucial for managers and business leaders. Recognizing how tech teams view their current workplace enables leaders to anticipate concerns and foster support, leading to enhanced employee relations, higher job satisfaction, increased retention, and improved productivity.

Tech professionals who believe their concerns are genuinely heard are more likely to view their employer positively, commit more deeply to their roles, and maintain open communication with leadership. By actively seeking and applying feedback from their teams, along with insights from the broader tech industry, management can effectively identify and resolve workplace issues, creating a more supportive and productive environment.

Workplace Trends Managers Need to Know

Tech professionals want to continue to work from home at least 50% of the time. With more job opportunities being fully remote or hybrid, the requirement to return to the office full-time will likely cost employers the loss of top talent.
- Only 9.8% of survey respondents want to work full-time in an office.

While tech professionals enjoy working remotely, social connection and the opportunity to meet new people present a hurdle for a segment of the workforce. Companies need to consider how to foster social connection while remaining in a fully remote or hybrid environment.
- 34% of survey respondents say that social connection with teammates is at least somewhat of an issue
Social connection also impacts the perception of team culture. 42% of professionals believe their organization lacks a strong team culture.
As AI integration becomes a more prominent element in workplaces and workflows, proper training, SOPs, and support must be implemented when deploying these tools. However, only 54% of respondents have used AI platforms/tools in their past or current jobs.
- The top two concerns tech professionals have with AI tools consist of:
  - Cybersecurity Risks
  - Wage Decline

Tech Talent Priorities: From Job Search to Retention

Candidates prioritize different factors when considering a job change, accepting an offer, or deciding to stay in their role. Much like the stages of a buyer's journey: awareness, consideration, and decision, priorities shift depending on the stage of their job search. Recognizing these motivations allows hiring managers to customize their recruitment and retention strategies. Despite the pandemic's impact on today's workplace, "Flexibility/Fully Remote Workplace" ranked surprisingly low in importance across all decision-making stages.

When Looking for a New Job: The importance of compensation, career progression, skill development, and team culture is consistent both pre- and post-pandemic. The shift from seeking "flexibility" to a "fully remote workplace" reflects a revised definition of “flexibility.”

When Evaluating a Job Offer: While compensation and team culture remained the top criteria, career advancement and skills enhancement rose in rank, overtaking Flexibility/Fully Remote Workplace.

When Staying in a Current Job: While team culture remains a chief factor in retention, it dropped slightly post-pandemic, possibly due to economic concerns. When considering whether to stay in their current role, compensation, and skills development became higher priorities than in the pre-pandemic era.

The significance of team culture holds steady across the career journey. Its role in employee satisfaction and loyalty is more pronounced than ever, emphasizing the need for inclusive and engaging team dynamics. This enduring value underscores why team leads must continuously cultivate a strong team culture, regardless of where work gets done.

Why Understanding Technology Talent Trends is Important

Understanding what tech professionals think about their workplace and being aware of emerging or waning trends is crucial for both technology professionals and leaders for several reasons:

● Adaptability and Innovation: Technology changes quickly. Staying updated on trends helps companies and professionals adapt and innovate. This knowledge ensures they can leverage new opportunities and technologies and remain competitive and relevant.

● Strategic Decision-Making: Insight into talent trends enables tech leaders to make informed decisions, guide resource allocation, develop strategies, and identify areas of improvement to drive successful outcomes.

● Career Development: For tech professionals, understanding industry trends and emerging skills is vital for career advancement. Tech leaders need to provide access to training, professional development, and certification opportunities to retain top talent and ensure their teams remain competitive.

● Risk Management: Awareness of emerging threats allows for proactive risk mitigation strategies. It's crucial for maintaining business continuity and protecting organizational data. Reducing risk on the talent front means understanding the tech talent mindset to avoid surprises in hiring and bolster employee retention.

● Networking and Community Engagement: Peer networks boost professional growth and organizational reputation. For tech practitioners, it fosters community by sharing industry challenges and opportunities. For leaders and hiring managers, it helps understand workforce and community needs, guiding better communication and involvement strategies.

● Market Positioning and Branding: For tech employers, understanding industry trends is essential for strategic market positioning and branding. Awareness of current trends, customer needs, and technology directions aids in developing marketing strategies and products that appeal to the target audience, boosting brand reputation and customer loyalty.

For tech pros navigating their careers, and IT leaders seeking to maintain a competitive edge, understanding tech talent trends is not just beneficial; it's essential. The insights presented in the Benchmark IT Tech Pro Survey spotlight the critical importance of adaptability, strategic foresight, and the dynamics between job satisfaction, workplace flexibility, and career advancement in the tech field.

Rapid advancements in AI, cybersecurity, and cloud computing demand a workforce that's highly skilled and adaptable to change. For hiring managers and tech leaders, this means prioritizing investments in talent acquisition and retention strategies that address the shifting priorities and expectations of tech professionals.

"Understanding tech talent trends is not just beneficial, it's essential."

Key Takeaways from the Benchmark IT Tech Pro Survey

Navigating Technological Change
- AI, cloud computing and cybersecurity are reshaping the demand for tech talent.
- By 2026, 80% of enterprises will have incorporated generative AI and machine learning into their operations.
Workplace Dynamics
- Tech professionals value improved work-life balance but face concerns about career advancement and social connection.
- Only 9.8% of tech professionals want to work full-time in an office.
- 42% believe their organization lacks a strong team culture.
Productivity vs. Quality of Life
- While productivity has increased by double-digits, the belief that remote work improves the quality of life has declined.
Employment Landscape
- Career advancement and skills enhancement are top priorities when evaluating job offers.
- The significance of team culture remains steady and crucial across the career journey.
- Compensation, career progression, skill development, and team culture are consistent priorities for tech professionals.
Strategic Insights for Tech Leaders
- Actively seek and apply feedback to create a supportive and productive environment.
- Understanding employee perspectives leads to higher job satisfaction, increased retention, and improved productivity.
- Fostering social connections in remote or hybrid environments is essential for maintaining a strong team culture.

Benchmark IT - Technology Talent

Benchmark IT offers expert recruitment and staffing solutions tailored to the needs of our clients and candidates. By leveraging insights from our annual Tech Pro Survey along with the latest recruiting technologies we help companies attract and place top talent and candidates land roles best suited to their goals.

Whether you’re an employer or a job seeker, we approach every recruiting assignment with precision, dedication to ethics, and personalized service. Our experienced team, best-in-class recruiting process, and high-touch approach produce ideal and enduring placements.

When the right talent is placed in the right role at the right company, success follows. Knowing how to put it all together is our expertise.

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