Tech Workers Want Higher Salaries
Not only are they not willing to accept a salary decrease, they even want higher salaries. Thirty-five percent of employees are expecting a 10% salary increase. Twenty-two percent of employees would like a 20% increase.
This is because the economy is also changing and living costs are getting higher, while their salaries either decrease or stay the same.
The great resignation
This salary effect has caused a huge phenomenon called the great resignation. We have reached the highest number of quits ever registered by the Bureau of Labor Statistics. In August 2021, 4.3 million employees quit their jobs. This is also one of the highest numbers of resignations in the country.
It's surprising because it happened in a period where things were almost going back to normal. We have sanitary measures, vaccines, and businesses are reopening. However, employee dissatisfaction is higher than ever.
The reasons for these resignations are low salaries compared to growing living costs and pandemic fatigue. During the pandemic, a burnt-out national feeling has made employees decide to leave their jobs to look for better alternatives, especially in the healthcare and tech industries.
The demand for tech workers has also increased their workloads, so they feel burnt out. That's why they quit and look for employers that offer better salaries and more flexibility.