Is your organization prepared to win the race for top talent?
Looking ahead to the future, is your organization armed with a well-designed talent approach to recruit and retain in-demand candidates? By leveraging our 2023 Information Technology Salary Guide, your organization will be well-positioned to attract these qualified professionals with competitive salary rates at your disposal.
- Anticipated Industry Trends
- Job Outlook Growth
- Information Technology Salary Guide
The compensation statistics within the following guide were generated by Lightcast—a leader in labor market data and analytics provider. The tool specializes in delivering detailed industry analysis through precisely summarized labor and compensation market measurements. Additionally, the information provided by Lightcast has been verified by both public and government sources.
Anticipated Industry Trends
Our team of workforce experts predicts the following information technology trends becoming more prevalent in the future:
Technology industry layoffs:
Tech companies eliminated over 150,000 jobs in 2022, while early 2023 saw more than 26,000 layoffs. However, within three months of beginning their job search, 79 percent of laid-off technology professionals found a new position, and 40 percent did so in less than a month.
Hybrid and remote work are here to stay:
The work landscape is evolving. Adopting a hybrid work model has transformed traditional office-centric businesses into regionally distributed companies. In fact, 58 percent of U.S. employees can work from home at least one day every week. As a result of this shift, IT departments must manage employee expectations, equipment, security, and business continuity while accommodating divided in-person and remote work environments.
Regulations will continue to grow:
Security and risk management have become a top concern for businesses and state and federal governments in the United States due to several cybersecurity incidents. The amount of legislation needed to safeguard customers has increased as the frequency and level of security breaches and leaks rise. In 2023, regulations are anticipated to become even more complicated, increasing the difficulty of company compliance. The need for cyber and information security specialists will grow across all industries to satisfy these demands.
Artificial intelligence (AI) will be leveraged:
Organizations continue to rely on AI in their day-to-day operations to increase productivity and better manage product inventory. In the coming years, there will be an increased demand for AI specialists due to rising utilization. The change to AI may necessitate some upskilling and reskilling of current IT professionals, and there will be a need for technology specialists, testers, developers, and programmers.
Supply chain issues continue:
The effects of chip shortages, rising product costs, and shipment delays are still being felt in the IT industry. The capacity of businesses to upgrade their technology is significantly impacted by the escalating expenses that supply chain issues produce.
Need for contingent workers:
The current talent shortage makes implementing advanced IT automation and digital workplace technologies difficult. When there are sudden spikes in demand or a need for specific skills in short supply, companies must look towards contingent IT workers—such as freelancers or independent contractors—to help manage workload.