Dice research found that even though only 31%
of tech professionals are optimistic about the economy, 8 in 10
expect the profession to grow in the next five years.
Dice (a DHI Group, Inc. brand; NYSE: DHX), the leading career
marketplace for technology professionals, today released its
seminal 2024 Tech Sentiment Report, offering a comprehensive
analysis of the current state of the tech industry through the lens
of technology and human resources professionals. The report
provides critical insights into the economic outlook, career growth
and impact of AI on tech professionals, highlighting the dual
sentiments of concern and quiet optimism amidst a challenging
year.
“While the industry has faced significant challenges, tech
professionals are adapting by upskilling and actively seeking new
opportunities,” said Dice CEO Art Zeile. “The demand for
professionals with expertise in AI, machine learning, cybersecurity
and data science remains strong, and tech professionals are
optimistic about the future. With that optimism, they continue to
prioritize companies that align with their values, offer meaningful
work and provide the benefits that matter most to them.”
Economic Outlook: Navigating Uncertainty in the Tech
Sector
Our findings reveal mixed sentiments among tech professionals on
the economy and the future of tech growth. While 3 in 10 tech
professionals feel optimistic about next year's economic
conditions, a nearly equal share feel pessimistic. Optimism in
long-term tech growth, however, is high, with 8 in 10 tech
professionals expecting the tech industry to grow in the next five
years. These mixed sentiments are likely a reflection of a
turbulent year that has seen widespread layoffs and wavering tech
job openings.
The sense of uncertainty in the industry is exacerbated for 36%
of tech professionals at smaller companies (<500 employees), who
express heightened concerns about company stability and
performance.
One thing that has remained stable is compensation continuing to
be a key motivator for tech professionals. Increased compensation
remains the top driver for those considering a job change, and 76%
of tech professionals take on side gigs to earn supplemental
income.
HR professionals maintain a positive outlook, with 70%
anticipating an increase in tech hiring in the near future. This
optimism is particularly strong regarding advancements in AI and
machine learning (ML), which are each expected to experience
significant growth in the coming years.
Life at Work: The Ongoing Debate Over Remote Work
Remote work continues to be a significant priority for tech
professionals, with 9 in 10 reporting it plays an important role
when evaluating new opportunities.
The most cited benefits of remote work include
cost-effectiveness, increased productivity and greater flexibility.
However, a disconnect persists between tech professionals and their
employers regarding remote work preferences: 87% of employers
continue to favor hybrid work settings.
Even though tech professionals favor remote work, many employers
are pushing for either a hybrid model or reducing remote work
options altogether, particularly in larger companies. Furthermore,
employers who mandate in-office days may face higher levels of job
dissatisfaction among employees. Tech professionals required to
work in the office at least one day per week report nearly double
the dissatisfaction levels compared to those who attend the office
without a mandate.
Despite these tensions, tech professionals report that their
work-life balance remains unchanged from last year. Those who work
remotely at least one day a week enjoy a better work-life balance,
and 61% are willing to prioritize this balance over a higher salary
when considering new roles. This trend underscores the importance
of work-life balance in the evolving landscape of tech
employment.
Career Growth: Balancing Ambition with Realism
Dice found growing dissatisfaction among tech professionals with
their current positions, with 67% considering a job change despite
concerns about finding new roles. Burnout and toxic work
environments are significant factors driving this desire for
change. However, the allure of higher compensation, greater
responsibility and career growth opportunities continues to attract
tech professionals to Big Tech (MAMAA) companies, with 21%
specifically preferring to work for them.
The demand and satisfaction for AI professionals stands out in
this year’s report. AI professionals report a more positive job
market and better work-life balance compared to other tech
professionals: 58% of AI professionals are confident they could
find a favorable new role in their field this year, compared to
only 36% of other tech professionals that feel the same. In
addition, more AI professionals report that they experienced a
better work-life balance than they did last year, at 41%, compared
to 26% of tech professionals in general.
Their confidence in finding new roles and the high demand for
their skills position them as a unique group within the broader
tech landscape. However, HR professionals face challenges in
recruiting AI talent, primarily due to a knowledge gap and the
competitive nature of the AI job market. Forty-six percent are
actively recruiting for these roles right now, and 82% anticipate
demand for AI professionals to increase in the next six months.
The Bottom Line
The 2024 Tech Sentiment Report provides a nuanced view of the
tech industry, capturing the complexity of emotions and experiences
among tech professionals. While economic concerns are prevalent,
there is a resilience and optimism driven by innovation in AI and
the continued growth of the industry. As tech professionals
navigate these challenges, employers must understand and address
these sentiments to attract and retain top talent in an
ever-evolving market.
Methodology
Dice conducted two separate surveys to produce the data and
insights in the 2024 Tech Sentiment Report:
- The Q2 2024 Technology Professionals Sentiment Survey was
conducted online via email June 5–27, 2024. The survey generated
520 qualified responses from fully employed technology
professionals residing in the U.S.
- The Q2 2024 Employer Sentiment Survey was conducted June 6–14,
2024, and generated 390 qualified responses from human resources
professionals from direct hire organizations that recruit and
employ tech talent.
The 2024 Tech Sentiment Report includes historical trend
analyses (when available) from the following Dice surveys:
- Q2 2023 Technology Professionals Sentiment Survey: Conducted
June 20–July 2, 2023. Generated 709 responses.
- Q3 2023 Employer Sentiment Survey: Conducted July 19–27, 2023.
Generated 224 responses.
About Dice
Dice is a leading tech career hub connecting employers with
skilled technology professionals and providing tech professionals
with career opportunities, data, insights and advice. Established
in 1990, Dice began as one of the first career sites and today
provides a comprehensive suite of recruiting solutions, empowering
companies and recruiters to make informed hiring decisions. Dice
serves multiple markets throughout North America. Dice is a DHI
Group, Inc. (NYSE:DHX) brand.
About DHI Group, Inc.
DHI Group, Inc (NYSE: DHX) is a provider of AI-powered career
marketplaces that focus on technology roles. DHI’s two brands, Dice
and ClearanceJobs, enable recruiters and hiring managers to
efficiently search for and connect with highly skilled technology
professionals based on the skills requested. The Company’s patented
algorithm manages over 100,000 unique technology skills.
Additionally, our marketplaces allow tech professionals to find
their ideal next career opportunity, with relevant advice and
personalized insights. Learn more at www.dhigroupinc.com.
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