How does the Great Resignation impact the IT sector?

gran renuncia sector IT

How does the Great Resignation impact the IT sector?

We are currently facing the much-feared "Great Resignation", a phenomenon that we can define as a wave of large-scale resignations that began in the United States in 2021 and has spread to Europe. Millions of people left their jobs in search of better opportunities. But can we say that this situation is repeating itself in Spain? Yes and no. To answer this question it would be appropriate to analyze the Spanish labor fabric and its culture, since at the country level this "desertion" is not manifested, given that Spain has a much higher unemployment rate than the United States and a different mentality regarding work. The Spanish worker is more conservative in terms of labor than his neighbor on the other side of the Atlantic. 

Having said all this, it is clear that the Great Resignation is not something that is happening in Spain, at least not in all sectors of the labour market. The rotation and mismatch between supply and demand between jobs and professionals in the IT sector may be a replica of this phenomenon on a smaller scale.

Reasons such as the loss of fear of leaving the job, the lack of continuous and quality feedback from managers to their teams and organisations that do not adapt to the needs of their employees, are the causes, broadly speaking, that are causing the IT consultancy sector to have one of the highest voluntary turnover rates in Spain. According to Linkedin "The IT sector, with a rate of 13.2%, is the sector with the highest turnover rates". Similarly, a study by Rand Europe states that "64% of large companies and 56% of small and medium-sized companies are having problems finding talent for jobs related to Information and Communications Technology (ICT)".

As a consequence of this turnover, companies lose resources and time, as projects slow down, know-how is lost and the quality of projects decreases. On the other hand, there are the high costs of recruiting a new resource and the current shortage of technological profiles in the market, known as the digital divide.

In order to deal with this situation, HR professionals, HR department heads and managers of the different areas of organisations must work together, get to know the people they manage, listen to them, motivate them and challenge them to excel on a daily basis. But above all, they must learn to choose the right leaders to transmit the values and culture of their companies, as this is the only way they will be able to stop the "Great IT resignation".