Tech Workers Not Jumping Jobs

Tech workers are holding on to their jobs tighter than they have in more than 20 years.

Just 8.9% of tech workers willingly left their jobs last year, says an Aon Consulting survey of 595 of the world's best-known tech firms, including Microsoft, Cisco Systems and Intel. It was the third year in a row that voluntary turnover dropped. "It's as low as I've seen it, and I've been tracking these numbers since the early '80s," says study author John Radford.

The numbers do not include workers who are laid off, Aon says. Last year, 11.2% of the workforce left jobs involuntarily, compared with 20.3% in 2001, when the tech bubble burst.

The continued decline is a surprise because the economy is improving. During tight times, workers who dislike their jobs often stay because there are few other offers. But turnover rises when the job market looks better — as it does now. Only 1.6% of the companies Aon surveyed have a hiring freeze; 29% are hiring normally — a big change from the tight years. Salaries and bonuses are up for every category of employee, Aon says.

Workers are still skittish, employment experts say. "There were so many layoffs," Radford says. "The mentality is any job is a good job."

More here.