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???
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..