74% of tech firms worried about talent retention

Heavy workloads and extended hours are pushing talented tech workers out the door as firms struggle to retain staff.

A new report conducted by ISACA touched on challenges that are arising throughout the tech industry for workers. According to the data listed on the report, all but 21 per cent – who stated they do not experience stress – listed the following issues as their main work-related stressors:

1. Heavy workloads (54 per cent)
2. Long hours (43 per cent)
3. Tight deadlines (41 per cent)
4. Lack of resources (41 per cent)
5. Unsupportive management (41 per cent)

Although these stress-inducing elements were prevalent for respondents, the top challenge for many when pursuing an IT career is the need for more technical knowledge (35 per cent), followed by changing technology, tools and best practices (31 per cent) and specialised skills required for specific IT areas (30 per cent).

Jo Stewart-Rattray, Oceania ambassador for ISACA, touched on the importance of mentorship and how it can alleviate the stress that comes along with a job in IT. Respondents agreed with this notion, with 83 per cent noting that mentors are important and 63 per cent stating they would like to have a mentor.

“In Australia, where the demand for skilled tech professionals continues to outpace supply, organisations that invest in structured mentorship programs can boost talent development, enhance job satisfaction and ultimately strengthen the digital workforce of the future,” Stewart-Rattray said.

According to the report, many of these areas, such as gaining knowledge, skills, mentorship and certifications, can be addressed by properly allocating a budget and making professional development a priority for employees. This shift of priority can also be a tool for increased engagement, morale, and productivity – leading to better retention rates for tech firms.

In terms of the issues that IT workers are facing, which are segmented by gender, women workers stated a lack of confidence, self-doubt, and “impostor syndrome”. This is a byproduct of coworkers often ignoring or criticising their ideas and professional judgement.

“On a positive note, by having these discussions, more men also seem to be comfortable talking about experiencing self-doubt,” Onur Korucu, managing partner at GovernID, said.

“My advice to all who have self-doubt or impostor syndrome is to question yourself, but make progress on it. If you have any knowledge gaps, move forward to fill them and then ignore the criticisms,” Korucu said.

It’s imperative that tech firms implement strategies that alleviate these issues for both men and women IT professionals if they hope to retain them.