Retaining IT Talent: A $145 Bn Challenge for US Companies

Let’s talk about a burning issue that's costing US companies a whopping $145 billion… 🤯 According to a recent report by @Ivanti, a leading provider of asset management software, a significant quarter of IT professionals are seriously considering leaving their jobs within the next SIX months. 📉👨 💻 (See Ivanti’s “2023 Everywhere Work Report”)

The Cost of Disengagement

Ivanti’s report sheds light on quite a concerning trend: IT professionals are 1.4 times more likely to "quiet quit" their jobs, compared to other skilled workers. This disengagement comes at a hefty price for organizations, impacting productivity, AND the bottom line. Just because hybrid and remote work are now a norm, doesn’t mean all organizations know what a “healthy” remote team looks like.

Challenges are still escalating and are leaving IT pros facing constantly increasing workloads and disconnection from colleagues.

The Challenges Faced

• Workload Woes: A staggering 73% of IT professionals have seen their workloads surge due to the hybrid or remote work model, with ONE in FOUR reporting burnout. This has led to an astonishing 2.5-fold increase in extended work hours for remote IT professionals.
• Isolation Impact: Disconnection from colleagues has hit hard, with 23% of IT professionals and security experts feeling the lack of camaraderie, along with 17% of office workers.
• Mental Health Matters: Among the quarter of IT professionals contemplating a job change, 31% state that their mental health is deteriorating.

The Way Forward

Ivanti's CEO, Jeff Abbott, highlights the urgent need for companies to act: "Companies must embrace automation to alleviate IT workloads, ultimately fostering a destination environment that retains premier IT professionals and cultivates a competitive advantage." So, how can businesses navigate this crisis?

• Diagnose & Understand: Start by identifying work-life pressure points through internal surveys and personal interactions. Gauge the employee mindset to find tailored solutions.
• Tech Experience Tune-up: Take stock of tech-specific experiences, particularly focusing on dissatisfaction with remote work tools. Tracking the digital employee experience can pinpoint areas of improvement.
• Automate Wisely: Prioritize automation for IT workflows. By streamlining tasks, you free up IT talent for more meaningful, and ultimately engaging projects.
• AI-Powered Solutions: Invest in AI-driven "self-healing" systems to reduce help desk tickets and resolve workplace tech slowdowns, enhancing overall productivity.
• Empower Work Styles: Give IT professionals the autonomy to define their work style. This move not only boosts recruitment and retention but also nurtures a thriving work culture.
• Reconnect in Person: Foster in-person connections within IT teams through face-to-face meetups, incentive trips, and the likes. Building trust and camaraderie can make a substantial difference to not only retention, but also performance.

How can we help?

Let's acknowledge that the disengagement crisis isn't solely linked to remote work. Rather, it's about the scarcity of resources, tools, and support available to IT professionals. If companies wish to secure top-tier talent and drive success, addressing these issues is paramount.

Ivanti’s report, based on insights from 1,800 IT professionals and C-level executives worldwide, serves as a wakeup call. It's time to invest in your IT workforce, embrace change, and foster an environment where professionals thrive.

We are always happy to connect and discuss how we can navigate this challenge together! 💪🚀

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