Slashdot Mirror
Tech Turnover Rate Lowest Since The 80's
cimmer writes "USA Today, the San Jose Business Journal and the suspiciously captivating monitor thing in the elevator are reporting the results of a survey conducted by Aon Consulting that states voluntary turnover in the tech industry is at 8.9%, 'the lowest in the history of the surveys, which date back to the mid-1980s'. Given all of the talk about an economic turnaround, are we looking at a potential tech turnover spike as individuals leave positions they have stayed in only because of a dismal job market? Aon seems to think so. Interestingly, the results of this study are released just as CNN.com reports that personal income growth is at its weakest in two years. Also of note is a discrepancy in the reported sample size, with USA Today stating the results are based upon input from 595 companies while the Business Journal reports that over 950 companies participated."
The funny thing is that wages and salaries were up in July, but other sources of personal income were down enough to reduce total personal income. From NASDAQ/Econoday:
But importantly wages and salaries did rise in the month, up 0.4 percent. Other sources of income weakened, including Medicare reimbursements, rental income, and interest income.
Exactly! But for those who didn't RTFA, it does say "The numbers do not include workers who are laid off, Aon says. Last year, 11.2% of the workforce left jobs involuntarily, compared with 20.3% in 2001, when the tech bubble burst." So it appears that involuntary layoffs are also down.
$#!^ happens, but why does it always have to happen to me???
Another possibility is that the low turnover rate indicates seniority positions that survived the crash.
My experience from before, during, and after the IT bubble is the exact opposite. Most of the older tech guys I knew before the bubble took ridiculously high offers from 1997-2000. Then, they all got fired when the tech market collapsed. Now, they are still asking for those salaries. For the numbers: I live in South Carolina - notorious for low pay. A web designer here makes $20k-$40k. A programmer makes $30k-$60k. We get older web designers asking for $80k+ and programmers asking $120k+. The younger guys are asking for salaries that are in the range people are willing to pay and then filling up the jobs.
Of course, this is all regional. It is very possible that the older guys in your area aren't dumb enough to think they can still make the salaries of the late 90's.
The previous comment is purposely vague and generalized, but all of the facts are completely true.
USA Today makes the distinction that it was 595 tech firms that had the 8.9% voluntary turnover rate.
The Business Journal states that it was 950 companies that responded, but even it states that the 8.9% voluntary turnover number was arrived ONLY from Tech Companies (i.e., not from ALL the companies that responded):
From the Journal Article:
Voluntary turnover among surveyed tech companies is at 8.9 percent, according to Aon's research.
Let's read a little closer before making assumptions, shall we?
Watch the Teaser Trailer for "The Lightning Thief" Her
Right here - "Chief executives at U.S. companies that shipped jobs overseas won a 46 percent pay hike last year, more than five times the average CEO raise, while ordinary workers' paychecks barely budged, a study showed on Tuesday."
I have no idea how they can find that the tech turnover rate has declined..
Silicon Valley: SE or even London cost of living, but probably for a slightly better salary. I think rents have come down a little. Be prepared to do a lot of driving.
;) I'm a bit older now and I have a family and other commitments, and don't want to throw away everything I've built up in my life. I really don't want the uncertainty of being on an H1b again. I like being a little more settled and don't want the temporariness of such a visa hanging over my head. Hence my advice to apply for the GC immediately as it could reduce your stress in the long run.
Be sure you know what you're getting yourself in to with an H1b. If you're going to be there more than a year enter the US with the dual intent of permanent residency: apply for a green card immediately, and pressure your employer to pay for it. Get them to agree before you agree to go. Hey: they might even take it as a commitment to the job position.
I'm a Briton who spent three years in the US under H1b. I'm now a permanent resident of Canada and filling out the paper work for citizenship here. I don't think I would want to be an H1b again.
H1b was fine in my early 20s. I had no responsibilities and was just looking for a good time. I got to live and travel in the US, paid for by a good job there. If I lost my job it didn't bother me that I might have to leave the US and start all over again elsewhere. Besides, the economy was good then
Don't even start thinking about what applying for something permanent in the US means. It doesn't mean you're becoming an American. It doesn't mean you're turning your back on your culture and past. But this is what a lot of people think and feel. It does mean that you're hedging your bets and perhaps making your choices and stress levels easier in the future. It does mean that you want to make your life easier. It does mean that you don't want so much hassle from those nasty ignorant c**ts on the border. At the end of the day, if you don't want to stay in the US, you can stop the process, or you can leave with an option to return more easily in the future. It's about choice.