IT salaries have increased an average of $3,796 compared to a year ago, while the positions in highest demand are associated with security, e-commerce, application development, big data, distributed/mobile system project management and quality control.
“The economic picture has created a positive outlook for job growth in general and information technology in particular,” said Janco CEO Victor Janulaitis. “However, we are now seeing both an increase in attrition rates within the IT function and a number of positions that remain unfilled because qualified candidates cannot be found. This is causing CIOs and HR department(s) to rethink both existing salary pay rates and the salaries that are being offered to potential employees.”
Companies are gearing up their internal U.S.-based IT organizations, increasing IT salaries and hiring, according to Janco. In the last 12 months, IT executives have fared better in mid-sized companies than large companies.
Large organizations plan to beef up their middle management as those enterprises focus on big data, blockchain, and smartphone and mobile connectivity, Janco said.
Succession planning and promotion of millennials into more senior roles also is becoming a priority.
“CIOs are now more optimistic about the direction their organizations are moving and are looking forward to increased budgets and staffing,” Janulaitis said. “However, with the improved employment opportunities, they are facing challenges in both compensation levels paid and promotion opportunities for existing staff. Some have already experienced the loss of highly qualified IT pros who have moved on and increased the attrition rate for IT pros.”
Janco interviewed more than 100 CIOs for the midyear survey.