The IT professionals in your small business probably think that they are underpaid, according to a recent study. And that could lead them to look for other opportunities in the coming year.
2018 Career Opportunities in IT
According to the 2018 IT Career Outlook report of the Spiceworks computer network, 63% of IT professionals believe they are currently underpaid. This sentiment was even more prevalent among millennial employees, who earn a median salary of about $ 50,000, compared to about $ 65,000 for Generation X.
This feeling among IT professionals could have a major negative impact on the small businesses that employ them. Employees who do not feel they are being fairly compensated are not as motivated and productive as those who are satisfied with their pay. And this could even lead to employees looking for other opportunities with more competitive salaries, which would result in increased turnover for these small businesses.
In fact, 36% of IT professionals reported having a positive outlook for the 2018 job market, which could be an even bigger indicator of some employees open to mobility and research new opportunities.
So what can small businesses employing computer professionals do about this? The best way to improve the feeling about compensation is simply to increase it as much as possible. Of course, this is not always realistic for every small business. But lost productivity and increased turnover-related expenses can in any case outweigh the initial cost over time. If increasing wages is really not an option, you can try to make your business a more attractive place to work by improving culture, offering flexible hours or allowing your employees to telecommute. on the occasion.
Overall, it is important that small businesses recognize the importance of IT professionals and prioritize the satisfaction and commitment of these employees. Salary and other incentives can certainly have a major impact on encouraging employees to stay. So, if you can make improvements in these areas, you can improve your chances of retaining good employees and perhaps even attracting new talent.