Nearly 19% of technology workers in Canada have quit their jobs over the past year, according to a study conducted by Vancouver-based Tech and People (TAP) Network.
The report paints a dissapointing landscape. Tech workers are leaving by the hundreds in spite of being offered exorbitant salaries and generous incentives.
The report gave more credibility to a growing trend of resignations in tech and other industries, described as “Great Resignation” by the US media.
The segments that suffered large-scale attrition include e-Commerce (32.5%), VFX, Animation (27.7%), AI, Data Science, Machine Learning and Robotics (24.3%).
Our annual Tech Salary Survey reveals substantial shift towards globally competitive salaries within Canada's tech sector. https://t.co/o4WqQvYFVw
— TAP Network (@network_tap) September 20, 2022
Analysts are wondering why tech workers are leaving jobs, saying companies are not only increasing salaries to retain the talent, but they are also allowing remote working.
In Canada, tech wages increased by 6.5% over the past year, up from 3.8% the year prior.
“The reality is that if you work in tech, it was raining jobs this past year,” said Stephanie Hollingshead, CEO of TAP Network, in a statement.
The rising wages have left Canadian companies struggling to compete with their international rivals. However, some analysts say the Great Resignation could soon make accessing talent far easier.
“While this shift should help smaller companies to retain employees and hire the additional talent they need to grow their businesses, upward pressure on tech sector salaries is expected to continue into 2023,” the report noted.