While recession fears ripple through the market, the last two years of business technology resilience has illustrated why the IT function will become more, not less, important to organization navigating financial challenges.
Global IT spending projections show that companies will spend more on IT this year than last even as leaders nervously track financial indicators. Some are deferring spending on devices to next year. But many are spending more on outsourcing firms as they contend with another key barrier to their IT goals: an overwhelming need for talent.
CIO Dive has spent months analyzing how companies can keep their best talent in house and unfazed by job offers at competing firms. After in-depth reviews of public and private data and almost two dozen conversations with industry sources, the message is clear: leaders must rely on multiple strategies to show employees a long-term career arc within their ranks.
It starts with money. Salaries for IT workers are up across the board, and employees know it.
Company culture and team morale also play a starring role. A worker with ample possibilities will change jobs to make sure they're treated as people, not bots. Often, that means having access to training opportunities that lead to bigger and bolder work aspirations. It also means giving tech talent a chance to work on the projects and technologies that excite them.
All these elements come together to create a sense of purpose. When workers feel their work has meaning, other job offers are suddenly less attractive — even if the paycheck is a little higher.
Take a look at CIO Dive’s series on talent retention: