Some are calling it the turnover tsunami: One in four workers plans to quit their current jobs once the pandemic is over. That number jumps to one in three for Millennials and employees with children. As for the IT profession, a new survey by Blind, an anonymous social network popular with tech workers, found that almost half of their users (49%) plan to land a new position this year.
The headlines are attention-grabbing, but this has been a long time in the making. In fact, many companies were already dealing with high turnover before the pandemic. The past year may have delayed some employees’ plans, but renewed confidence in the future has them looking ahead and considering their options. Now that organizations have adjusted to the idea of remote and hybrid workforces, top IT talent has more opportunities to choose from than ever before.
As leaders, we’re at the proverbial fork in the road. We can choose to be victims of circumstance and resign ourselves to losing our best people. We can keep doing what we’ve always done and hope for different results (we all know how well that turns out). Or we can recognize that changing times offer us a great opportunity to reimagine how we inspire, grow and retain our workforces.
Becoming an engagement-focused IT leader
The CIOs I’ve been talking with are firmly focused on that last prong. They’re thinking about how they can seize this moment and turn it into a differentiator. While the last year proved how important IT is to the business, it also left a lot of frustration, fear, isolation, and burnout in its wake. These CIOs aren’t waiting it out and hoping their best people will stay. They’re proactively working on engaging their top IT talent so everyone is in a strong position to compete and deliver greater value as the economy picks up steam.