Technology companies have the highest employee turnover rate – 13.2% – when compared to all other sectors. In an industry where a three-year tenure is considered an eternity, recalibrating your mindset when it comes to managing your tech career is critical.
Cause and Effect
Rapid innovation, and the financial investments fueling technology growth, is creating an ever changing business environment for tech firms. These changes require constant pivots to keep up, which inevitably results in employee turnover. A company’s urgent need for specific talent today is impacted by tomorrow’s shift in product strategy or new technology acquisition.
Creating the right mindset
In cyber security specifically, any start-up you join is an acquisition target and “established” vendors aren’t safe either. Acquisitions of industry leaders like Symantec, McAfee and Forcepoint have led to mass exoduses of talent. Accepting that you, regardless of seniority, are a transactional component to a company’s strategy is key.
Being a transactional asset, or expendable, doesn’t have to be a bad thing. It does however require an adjustment to the ingrained mindset of full-time employment = stability. Instead, I would encourage you to consider the notion that professional agility = stability.
Consider yourself a business entity that expertly fills a company’s need with the skills you’ve developed over time.
Creating your brand
This entrepreneurial approach to your career doesn’t mean it’s time to slack off. The employer that will bring you on for your expert services – sales, marketing, engineering etc. – is your customer. While it’s likely you’ll be moving on to a new project (employer) in a few years, having referenceable customers will be key to acquiring new business (employment).
In addition to referenceable work and acquiring new skills, marketing yourself is key and LinkedIn is a great tool when utilized correctly. Keeping your profile updated with skills and results oriented content will separate you from your competition. Our blog about optimizing your LinkedIn profile has some great tips!
If you’re considering a career in tech, or are frustrated in the moment, don’t let the turnover dissuade you! The monetary benefits, prospects for growth and opportunities for lateral career progression are unmatched by any other industry.
- On average, the cyber security professionals I recruit individually exceed the 2020 median household income by over 3x.
- High churn means executives and first line managers aren’t hogging those seats for too long. You could be up for promotion before you know it!
- The overlapping of industries like Cyber Security, Cloud, DevOps and FinTech provides opportunity for lateral movement across different technology segments.