Tech industry at risk of losing best and brightest
The tech sector’s working culture is continuing to prove divisive, with new data suggesting that more than half of European tech workers are considering a career change.
More than a third of young tech workers (35 per cent) are unhappy in their role, with over half (54 per cent) considering a complete change of path, according to the Young Generation in Tech survey commissioned by HR firm HiBob and global venture fund Eight Roads.
Under 30s surveyed blame poor management and a clear lack of progression for job dissatisfaction, but there are signs that increasing concern over redundancies is a factor. In the UK and Sweden, over a third of young tech workers say that they expect to be laid off or fired in this economic downturn.
“These findings suggest young people in tech have lost faith in their employers and the tech industry’s big promises,” Ronni Zehavi, co-founder and CEO at HiBob said. “Responsible employers should take this as a warning and listen to their concerns or risk losing the best and brightest.”
But it’s not just young people that feel disillusioned.
New research from accounting firm Intuit QuickBooks found one in five (20 per cent) women in tech or fintech who have experienced menopausal symptoms have left or wanted to leave their job because of their symptoms.
The research, which surveyed 3,000 men and women working in fintech or for tech providers, revealed that almost a quarter of surveyed women experiencing symptoms have delayed or cancelled plans to apply for a promotion.
Over two in five women surveyed (43 per cent) said they wouldn’t disclose that they’re going through the menopause to their employer, with many stating that they wouldn’t wish to draw attention.
Commenting on the findings, VP and Head of UK at Intuit QuickBooks Jolawn Victor said:“Putting more of a focus on supporting women through menopause can have many benefits for employers too – they are likely to find that retention rates and their pipeline of talent will improve, as barriers to progression and fulfilment are removed.
Taking steps in areas like this will also help to close the gender pay gap in tech and fintech.”