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Feb 09

CFOs: IT Workers Sense Economy Improving

Posted by jimfinnan97 in Untagged 

Get ready to pay your IT workers. They have been waiting patiently.
A global downturn in economic activity resulting in shrinking IT budgets, the financial crises of 2008, and IT outsourcing or offshoring are just a few of the potential major career disruptions IT workers have had to contend with over the last five years. It workers recognized the need to embrace their jobs because if they were let go there was great uncertainty in the prospect of finding a new job. 
A recent increase in IT professionals' confidence in the economy was largely led by a perception of more jobs being available and an increased ability to get those new jobs. Mirroring this increase in confidence is a decreased belief that IT pros will lose their jobs within the next 12 months.
Therefore IT career options are starting to improve according to this recent survey of IT professionals from Technisource.
 The company's latest IT Employee Confidence Index reveals that optimism levels have climbed above 50, after dipping below that critical mark in 2011. Overall, tech workers feel better about job security, employment-search prospects and the future of their organizations. 
"With the demand for IT professionals steadily increasing, confidence is rising once again," says Andrew Speer of Technisource. "We're seeing great demand for project managers,  analytics professionals and .NET application developers, demonstrating that companies are opening their budgets and embracing technology implementation." And one-third of employees are actively looking for new employment, Speer notes, meaning CIOs and other tech managers must focus on the needs of IT teams to avoid unnecessary hiring and re-training costs. More than 245 IT professionals took part in the research.
Here are some selected highlights from the Q4 IT Employment Report:
1. 22% of IT professionals believe the economy is getting stronger, up from just 13% the prior quarter.
2. 8% of tech workers believe more IT jobs are available now, up from 11%.
3. 42% of tech employees are confident in their ability to find a new job, up from 40% the prior quarter.
4. 63% of IT workers remain very confident about the future of their current employer, a slight increase.
5. Just 16% of IT employees believe they are likely to lose their jobs, down from 19%.
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