IT Worker Confidence Dips As Concerns Over Economy Prevail

Jul 24, 2012, 09:24 ET from Randstad Technologies

BOSTON, July 24, 2012 /PRNewswire/ -- The IT Employee Confidence Index, a measure of overall confidence among U.S. technology workers, declined to 51.7 in the second quarter of 2012, after peaking last wave at 58.8—its highest level in the last four and a half years. This decline mirrors other quarterly decreases seen across other industry sectors surveyed by Randstad, including healthcare, finance and accounting and engineering. This online survey conducted by Harris Interactive on behalf of Randstad Technologies and Technisource, included 223 employees in the technology industry.

The number of technology workers indicating that the economy is getting stronger dropped by nearly half in the second quarter of 2012. Additionally, IT workers indicating that more jobs are available dipped by 13 percentage points. However, technology workers continue to remain optimistic about their personal ability to find a new job and in their own job security.

"The decline in overall confidence levels of IT workers aligns with other recent U.S. news reports pointing to a slowdown in job creation. There is no doubt that technology workers are exercising caution when it comes to their sentiments around the economy," said Bob Dickey, EVP of Technologies at Randstad U.S. "However, when it comes to technology, skilled talent will always remain in high-demand and short supply. We are seeing software and user interface developers, as well as business system and EPIC analysts, continue to have their pick and choose of jobs right now. The long-term outlook for tech workers remains promising as the tech/telecom, financial activities, and healthcare sectors remain strong and employers pursue more aggressive project implementations—thus increasing the need for technology-related compliance solutions. Additionally, with the fast rate of technological advances, workers in this industry will benefit from, and should consider, contract or project assignments to remain marketable. In fact, hiring managers and HR executives are more inclined to utilize contingent labor than in years past, with technology temporary staffing projected to have the highest growth percentage increase out of all other industry segments at 12 percent from 2012 to 2013, according to Staffing Industry Analysts."

Q2, 2012 Survey Highlights:

IT Worker Confidence in the Economy Sharply Declines

  • Technology professionals' confidence in the overall economy declined in the second quarter of 2012, with only 23 percent believing the economy is getting stronger, a 17 percentage point drop from last quarter. In fact, the same amount of workers (40 percent) who believed the economy is gaining strength, now believes the economy is weakening.

More Than Half of IT Workers Believe Fewer Jobs are Available

  • Fifty-three percent of respondents believe that fewer IT jobs are now available, while only 19 percent believe there are more available jobs.

Tech Workers Remain Optimistic About their Employability

  • Forty-four percent of IT workers reported feeling confident in their ability to find a new job—a two percentage point increase from the previous quarter.

IT Workers Remain Very Confident in their Own Job Security

  • Over two thirds (71 percent) of IT workers reported that it is not likely they will lose their job in the next 12 months. This is up four percentage points from the first quarter of 2012.

Workers Hesitant to Job Hunt

  • Fewer technology workers, 29 percent, are likely to look for new jobs compared to last quarter (41 percent).

Survey Methodology

This survey was conducted online within the United States by Harris Interactive on behalf of Randstad Technologies and Technisource from April 10-12, May 16-18, and June 11-13, 2012, among 3,790 adults ages 18 and older of which 223 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 Lesly.cardec@randstadusa.com. Survey Background Information

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 Technisource

Technisource, one of the largest technology talent and services providers in North America, provides a comprehensive suite of technology services including consulting, project and outsourced services to Fortune 500 corporations, mid-sized companies and small organizations. With nearly 40 years of experience, Technisource maintains a group of experienced consultants to provide services through its network of more than 50 offices across the U.S. Technisource is now a part of Randstad. For more information, please visit www.technisource.com.  

About Randstad

Randstad is a $22.5 billion global provider of HR services and the second largest staffing organization in the world. From temporary staffing to permanent placement to inhouse, professionals, search & selection, and HR Solutions, Randstad holds top positions around the world and has approximately 28,700 corporate employees working from its nearly 4,700 branches and inhouse locations in 40 countries. Founded in 1960 and headquartered in Diemen, the Netherlands, Randstad Holding nv is listed on the NYSE Euronext Amsterdam. Learn more at www.randstad.com.      

SOURCE Randstad Technologies



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