The Great Resignation & What It Means For Your Tech Talent

May 8, 2023

In 2021, workers across all sectors began to voluntarily leave their jobs in record numbers.

The share of workers who voluntarily leave their jobs is known as the quit rate. In September 2021 alone, the quit rate hit a record 3%, with 20.2 million workers choosing to leave their jobs between May and September overall. Replacing these workers is proving difficult for many employers, and outright impossible for others. And further, this trend is showing signs of continuing well into 2022 and possibly beyond.

There are any number of reasons why people are leaving their jobs in these record numbers. If you Google “The Great Resignation of 2021,” you will be overwhelmed with statistics and reasons, which range from workers re-evaluating priorities, starting their own businesses, moving on for more pay, moving on for a better fit, changing careers altogether, or simply retiring.

What employers and employees alike are relearning is that workers with the skills and desire to seek other opportunities are doing so.

What does this mean for your business?

It is not surprising that front-line industries, where jobs are in-person and remote work is not an option, are experiencing significant workforce losses. In addition to outright workforce losses, there is a reshuffling of the workforce deck across all sectors, including jobs where remote work is an option.

The tech sector is among those experiencing the greatest talent movement; lateral, upward, and in some cases, out. Good tech talent, those with highly desirable and portable skills, are commanding top dollar, as well as myriad intangibles. In many instances they are proving hard to retain as they regularly encounter new fences with ever greener grass on the other side. Employers are increasingly left with project deadlines and no staff (or worse, the wrong staff) to help them meet those deadlines.

So, what do you do if you find yourself with more than enough work, looming deadlines, and critical personnel gaps?

You could try to power through with your current staff, who are already stretched thin, and on the brink of burnout. But this rarely works successfully, resulting in unhappy staff and dissatisfied clients.

You can advertise and otherwise attempt to fill the position(s) and hope that you can find the right person or people, onboard them, and get them up to speed in time to meet your deadlines. While this is a good long-term solution, realistically this will not help you get your current work out the door, again resulting in dissatisfied clients.

There are any number of on-line freelance clearinghouses where you can find freelancers for any type of work you may need, from copywriting to coding to systems management. But, like online dating services, what you think you are getting often has little to do with what you end up with. Horror stories abound, and when time is critical you simply cannot afford to take chances.

This is where an established tech agency with a proven track record is able to step in and help you smooth over the rough spots and any process interruptions caused by departing talent (or your company outgrowing current talent).  Your tech partner can do everything from augmenting and supporting your existing staff to taking on and running an entire project.

While there may be immediate applications for existing work, the nature of technology is such that things are constantly changing. There are new tools, new approaches, new best-practices, and most importantly, new competitors. Internal teams, even when operating at peak efficiency, may become a bit complacent with existing tools and methods, but a good tech partner never sits still and will always help propel your business forward.

Whether it’s assessing and leveraging new technologies that may be beneficial to you or helping understand the impact of new competitors in your space, your tech partner can navigate these changes with your organization and guide you to better outcomes. When you boil it down, the right tech partner is both a short-term and long-term solution for your business, especially now.

Finding the right tech partner

A design and development agency provides plug-and-play solutions across the many roles you may need to fill. You can find firms that are ready and willing to work together on a project basis or contract basis to help you get through the challenges you’re facing both in the near- and long-term.

Whether you’re pretty far into a project or still in the early stages, a good agency will work with you to assess your overall needs, develop a plan, and provide you with solutions.

But finding the right tech partner isn’t a challenge just for companies faced with staff fluctuation. Millions of Americans have started their own business in the last few months as well, looking to create for themselves the flexibility and opportunities they felt they couldn’t find elsewhere.

With more and more entrepreneurs trying to bring their ideas to life outside of the usual startup communities as a result of the pandemic, generalized knowledge and advice is proliferating online to fill those gaps. Accounts across TikTok, Instagram, and YouTube offer a range of advice but lack the ongoing, personalized support that many founders need in order to be successful.

Enter (again): the right tech partner.

Not only will the right partner help you bring your dreams to life, they’ll provide the guidance you need to grow.

At VAULT, we incorporate the Learn, Build and Grow model that helps companies of any size, from startups to Fortune 500s, build and launch great products. Contact us to learn how we can step in to support your team to meet deadlines, build a design and development strategy to help you leverage current technologies or navigate the current market to propel your business ahead of the competition. Email to set up a call with our team.

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