The Great Resignation has made a significant impact on the workforce, leaving more than 10 million job openings in America. As individuals’ preferences and career goals change with the popularization of remote working and post-pandemic attitudes, it’s important to consider the good, the bad, and the ugly when thinking about leaving your current role.
With an increased emphasis on technical skills and a shifting labor market, knowing industry and job trends is going to be crucial. So, what should you know when considering a change in roles?
The Obvious Perks
Right now is a perfect time to make a career switch. Why? There are quite literally millions of job openings and high demand for talent in many industries, specifically in growing fields like technology and computer science. The pandemic triggered The Great Resignation, with a total of 48 million employees quitting their job in 2021, showing us the highest rates we’ve seen in history.
Following this, companies dealt with labor shortages which has forced them to improve benefits, salaries, and growth opportunities in order to compete in a struggling labor market. As of now, workers have the upper hand in the job market with two job openings for every unemployed worker and layoff rates at a low. With this pro-worker dynamic, individuals looking for jobs are generally given more opportunities and choices as well as increased negotiating power. So, if you’re interested in pursuing a tech career, now is the time to capitalize on it.
Cause for Hesitation
Although there are headlines about layoffs at big tech companies, most technical roles are safe and we are still seeing companies struggling to find great talent. As such, when considering making that career switch, specifically in tech, having the right knowledge and in-demand technical skills is going to be important. This means being up to date with modern technology and platforms. Moving to a new company or industry may mean having to learn new systems and processes, so proficiency in SAP at one company could still mean needing to learn new skills or re-train at the next. This can be intimidating if you’ve been out of the technology game for a while or have been settled in with your current platforms – not to mention the investment that learning a new skill can require. Certain certifications, skills, and software may certainly demand additional money, time, and resources on your part.
While these factors and barriers may be daunting, they are no more important than being satisfied with your position. Adapting to a new role and organization is no easy task, but it may be the right choice. Don’t let the upfront investment keep you from expanding your horizons into new technologies and industries.
Additionally, people build up credibility and reputation at companies. Switching paths can be a scary thought; You’re losing that stature, friends, connections, and network – not to mention the overall life changes associated with switching jobs or careers like the possibility of relocation or limited flexibility. Also, the onboarding process for a new role can be overwhelming, particularly if it is in a virtual environment. The stress of relocating, learning a new schedule, and starting over often deter people from making a career switch. However, these factors, while not ideal, may be the push you need to reach your career goals.
There are many factors to account for when considering a job change. While the thought of leaving your current role can be a scary one, it is important to prioritize your values and overall satisfaction in your role. Knowing the trends within different industries and the labor market will be vital when making your decision. Now is the time to capitalize on new and exciting potential career opportunities and truly think about whether making that switch will be the right choice for you.
To learn more about whether a career change to software development may be right for you, contact our team at Momentum.