76% of Utah tech community open to changing jobs, citing salary as top motivating factor according to ProFocus Technology Tech Trends Report
Utah companies face urgency to rethink how to attract and retain tech talent
SALT LAKE CITY, January 31, 2023--(BUSINESS WIRE)--The Utah tech market is growing but companies are struggling to attract and keep the talent to support it, according to a ProFocus Technology survey, Utah Tech in Focus: 2023 Trends Report. Despite 50% of respondents expecting revenue to increase and 34% expecting to increase headcount, almost half (46%) rank finding talent as their biggest tech talent challenge, followed by retention at 29%.
Burnout is a reality among the Utah tech community, with 63% of survey respondents reporting feeling burned out. Fifty-nine percent (59%) say their tech team is overworked, and 38% anticipate working more hours this year over last. Seventy-six percent (76%) say they are open to changing jobs in 2023, with 42% actively looking for a new position and 34% open to a move for the right opportunity.
The importance of compensation
Forty percent (40%) of survey respondents say salary/compensation is the most important factor in attracting and retaining top tech talent, yet just 38% report that overall compensation for the tech team will increase this year and 10% report compensation will decrease.
"For Utah companies looking to maintain their innovative edge, these findings should serve as motivation to look at new ways to recruit and retain the best tech talent," said John Boone, ProFocus Technology Founder and President. "The survey findings are consistent with what we are seeing with clients: the tech community in Utah has made it clear they are looking for competitive compensation and meaningful work, and Utah businesses should take note."
Boone added, "Companies need to be very intentional about keeping their tech workforce happy. In addition to compensation, ensuring workers are offered development opportunities, instilling a strong culture, and balancing remote work needs will all play significant roles in which Utah companies win the best tech talent."
The majority of Utah companies struggle to recruit and retain tech talent
More than half of all firms represented in the survey received subpar marks in the recruiting and retention categories. Fifty-nine percent (59%) say their firm is poor or average at attracting tech candidates, 55% say they are poor or average at onboarding talent, and 54% say they are poor or average at retaining talent.
Small and midsized firms deliver more of what the talent wants
A divide exists when comparing the findings from small, midsized, and enterprise organizations1. More than two thirds (68%) of workers at small and midsized firms say they offer competitive market compensation, compared to 49% at enterprise firms. Smaller firms also received higher ratings for providing pay equity for remote and local staff.
Enterprise firms struggle more when it comes to retaining talent, and they also are rated lower by tech workers at onboarding, maintaining a strong culture, and providing work-life balance.
"Larger firms with bigger brand recognition have the advantage of getting talent in the door, but these survey results show they need to pay greater attention to improving company culture, which includes being responsive to requests for flexible work, providing meaningful project opportunities, and offering clear career paths," said Jennifer Waldrip, VP, Client and Talent Services and Partner at ProFocus Technology.
Utahns are almost equally split between those who work remotely all the time (49%) and those who work in the office some (40%) or all (11%) of the time. Respondents have mixed feelings about remote work almost three years after the start of the pandemic, sharing the challenge of being responsive to workers’ preferences to work remotely while trying to build and maintain a connected, strong company culture. Fifty-six percent (56%) of respondents say their firm does a good or excellent job of maintaining a strong culture.
About the survey
ProFocus Technology’s Utah Tech in Focus: 2023 Trends Report is based on responses to an online survey of 173 Utah technology professionals, including executives, managers, directors, team leads, and individual contributors in companies from small firms with less than 100 employees to large enterprises with greater than 5,000 employees. The survey was conducted between October 19 and November 19, 2022.
1Small firms are defined as 1-100 employees, midsize 101-500, large 501-5,000, and enterprise greater than 5,000.
About ProFocus Technology
Built on decades of experience, ProFocus Technology is an award-winning technology staffing and consulting company specializing in delivering first class talent for key roles in development, deployment, and maintenance of software and infrastructure. With a fill ratio nearly double the industry average, ProFocus carefully places tech talent for companies ranging from small businesses to large enterprise organizations.
Based in Portland, Oregon, ProFocus has employees throughout the U.S. and last year opened its second market location in Utah. ProFocus Technology has received ClearlyRated’s Best of Staffing Diamond Awards for both Client and Talent satisfaction for seven years running. ProFocus has earned distinctions including Fastest Growing Private 100 Companies and Best Companies to Work for.
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