IT Worker Confidence Reaches Highest Level Ever Recorded in Third Quarter of 2014



The Randstad Technologies Employee Confidence Index, a measure of overall confidence among technology workers, reached the highest level ever recorded in the Index’s nine-year history, increasing from 58.7 in Q2 2014 to 61.7 this quarter. The study, conducted online by Harris Poll on behalf of talent and solutions provider Randstad Technologies, showed technology workers’ confidence in the strength of the economy rebounded significantly this quarter, with nearly half (43%) believing the economy is getting stronger. In addition, the Randstad Macroeconomic Confidence Index, which measures employees’ confidence in the overall strength of the economy, increased dramatically from 47.4 last quarter to 52.4 this quarter—the highest level among all other professions surveyed. The study was conducted in July, August and September of 2014 among 189 U.S. IT workers aged 18 and older.

Also this quarter, IT workers are more confident about their own personal employment situation, including the availability of jobs and their ability to find new employment. Nearly four-in-10 (38%) IT workers believe there are more jobs available this quarter, while more than half (56%) are confident in their ability to find a new job. Not surprisingly, many more IT employees say they are likely to look for a new job this quarter, with 40 percent of IT professionals indicating they are willing to job hunt in the next year, an 11 percentage point increase from the second quarter of 2014. 

“It is encouraging to see confidence levels among all IT workers reaching unprecedented heights,” says Bob Dickey, Group President of Technology and Engineering at Randstad. “Employers must keep in mind that with more confidence in the job market comes more likelihood of job mobility, a challenge when many organizations are already struggling with finding the right IT talent to drive business goals and innovation. In fact, a recent Gartner report on CIO Agenda 2014/2015, finds 51 percent of CIOs are concerned that the digital torrent is coming faster than they can cope, and 42 percent don’t feel they have the right skills and capabilities in place to face this future.” 

According to the National Center for Women & Information Technology, one often overlooked solution to the IT skills shortage is to recruit more women into the profession. The organization cites that there are roughly 1.2 million computing jobs projected to be available by 2022, yet U.S. universities are producing only 39 percent of the graduates needed to fill them. Meanwhile, the National Center for Education Statistics forecasts a total of 13.5 million female college students in 2020 compared to just under 9.5 million males. In addition, a recent New York Times article reported that women hold only 25 percent of IT jobs, and roughly half will eventually quit to pursue a completely different line of work.

Added Dickey: “We believe recruiting more women into the IT field is crucial to not only alleviating skill shortages from Baby Boomer retirees and other factors, but because they bring valuable skill sets to the enterprise.” 

Q3 2014 Survey Highlights:

Confidence in the Economy Rebounds for IT Professionals
  • Technology professionals’ confidence in the overall economy increased by nine percentage points, from 34 percent in Q2 to 43 percent this quarter. 
Workers’ Sense of Job Security Declines Slightly 
  • Although the majority of IT workers still report high job security, 67 percent feel it is not likely they will lose their job in the next 12 months, representing a six percentage point decline over last quarter. 
Significant Jump in the Number of IT Workers Likely to Change Jobs
  • Four-in-10 IT workers say it is likely they will look for a new job in the next 12 months, an 11 percentage point increase from the previous quarter. 
Growing Confidence in Ability to Find New Jobs
  • Well over half (56%) of IT professionals say they are confident in their ability to find a new job, representing a four percentage point increase over last quarter. Only 17 percent do not feel confident in their ability to land a new job, indicating no change quarter-over-quarter.

Survey Methodology
This survey was conducted online within the United States by Harris Poll on behalf of Randstad Technologies from July 8-10, August 4-6 and September 9-11, 2014 among 3,144 adults ages 18 and older, of which 189 are employed in IT. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact kristin.mchugh@randstadusa.com

About Randstad Technologies
Randstad Technologies has been connecting top companies around the globe with the expert technology talent and solutions that drives their success since 1984. Our deep industry expertise and full-service capabilities—Recruitment, Consulting, Projects and Outsourcing—enable organizations to be agile, productive and ahead in the field with their wide network of specialists and flexible solutions. For more information, visit www.randstadtechnologies.com

About Randstad US
Randstad US is a wholly owned subsidiary of Randstad Holding nv, a $22.0 billion global provider of HR services. As the third largest staffing organization in the U.S., Randstad holds top positions in permanent placement, office and administrative, IT and accounting and finance. From professional services, commercial staffing, recruitment process outsourcing, to managed services and more, Randstad delivers a comprehensive range of temporary, temporary-to-hire, permanent placement and outsourced placement services. With its 5,324 employment experts, Randstad puts an average of approximately 100,000 people to work in the U.S. each week, through its network of nearly 1,000 branches and client-dedicated locations.
 
Learn more at www.randstadusa.com and access Randstad’s panoramic U.S. thought leadership knowledge center through its Workforce360 site that offers valuable insight into the latest economic indicators and HR trends shaping the world of work.