Software edged out the retail and media verticals with 13.2%, driven by high demand and compensation.
Building a slide deck, pitch, or presentation? Here are the big takeaways:
- In 2017, software had the highest job turnover rate of any sector at 13.2%. — LinkedIn, 2018
- Within software, the roles of user experience designer, data analyst, and embedded software engineer have the highest turnover rates. — LinkedIn, 2018
The software industry had a higher turnover rate (13.2%) than any other sector in 2017, according to a Thursday blog post from professional social network LinkedIn.
In its post, LinkedIn's research revealed that software beat out retail (13%) and the media/entertainment (11.4%) sectors for highest churn rate. These three sectors have "liquid" workforces, the post said, but they each see churn for different reasons.
Within software, certain industries stand out with higher turnover rates. Computer games has 15.5%, internet industries have 14.9%, and the software industry itself has 13.3%, the post noted.
SEE: Job description: Platform developer (Tech Pro Research)
On a smaller level, certain roles have even higher turnover. User experience designer, for example, has a rate of 23.3% and is in very high demand. Data analyst follows at 21.7% and embedded software engineer claims 21.7%. Embedded software engineers "receive the most InMails per person of any occupation in North America," the post noted.
So, why are jobs in the tech/software sector prone to such high turnover? According to LinkedIn's data, there are two main reasons: High-demand and rising compensation. Essentially, as the offers get better and better, more workers are willing to jump ship to a new workplace.
"The numbers support this theory: according to LinkedIn data, almost half (49%) of departing tech employees take another job within the tech sector," the post said.
While retail isn't very similar to the tech industry, tech is playing a role in its high turnover too. As brick-and-mortar transitions to e-commerce, many folks are left without jobs as employers need fewer people on the sales floor. And many don't return as only 35% of people leaving those jobs move to another in retail, the post said.
To better help folks understand just why people leave in the first place, LinkedIn surveyed more than 10,000 people to find some trends. Here are the top four reasons people leave their jobs:
- Lack of opportunities for advancement (45%)
- Unhappy with leadership (41%)
- Unhappy with the work environment (36%)
- Desire for more challenging work (36%)
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