Recruitment group Hays last month polled 540 IT professionals who work in banks, IT consultancies, hedge funds, fund managers and financial software companies.
And over three quarters (77%) of IT staff questioned said that they plan to look for a new position within the next year. Of these professionals, two thirds plan to start looking in the next three months and their strongest motivator is salary (41%).
'Many professionals feel as though their salary progression has been compromised by the recession and are no longer willing to stay in their current role when they believe they may be able to receive a higher salary elsewhere', says Hays Finance Technology Director Sam Corcoran. 'Salary freezes, increased workloads and redundancies have resulted in decreased loyalty from employees which has contributed to feelings of unrest. Almost a third (28%) said that the financial crisis had resulted in increased stress and a quarter (25%) said that they now work longer hours'.
While forty eight per cent of those surveyed felt the recession had led to decreased job security, when it came to bonuses over half of those surveyed said that they did not receive one in 2009. This is despite forty two per cent of respondents saying that a bonus should make up to at least twenty per cent, if not more, of their annual package. Interestingly, only one per cent cited a bonus as their greatest motivation for changing roles. Traditionally, professionals in this sector moved roles in search of bigger bonuses, but recent changes to remuneration structures have meant that this is fast changing.
For more information please visit: www.haysft.com