2023 was an exceptionally rocky year for the tech industry. Although news of layoffs and company shutdowns were most widespread in North America and Europe, South Africa was not unaffected. <\/p>\n\n\n\n
The rate of retrenched developers almost doubled from 2022 to 2023: 1 in 20 South African developers got retrenched.<\/p>\n\n\n\n
The impact of the tech downturn on developers\u2019 morale is starting to show in 2024, according to the 2024 Developer hiring & retention report<\/a><\/strong> from developer marketplace, OfferZen<\/a><\/strong>.<\/p>\n\n\n\n The tough economic environment is not deterring developers from changing jobs, at least in terms of their stated intention. <\/p>\n\n\n\n In fact, 33.3% of developers say they want to move jobs this year or are already looking, compared to 29.8% in 2023.<\/p>\n\n\n\n Why are so many developers looking towards greener pastures? Over the past year, many companies shifted into lean growth mode, and some underwent restructuring, as well as adopted tighter roadmaps. <\/p>\n\n\n\n As companies have to optimise for profitability, there is evidence that they are passing some of this pressure onto their employees: <\/p>\n\n\n\n However, these changes can have serious repercussions on the team\u2019s morale, buy-in and productivity.<\/p>\n\n\n\n In fact, the number of developers who feel very confident about their chances of growing at their company has fallen from 38% last year to 33% in 2024. <\/p>\n\n\n\n This puts it at its lowest point in three years. For tech companies, this statistic is especially worrying since a lack of growth opportunities ranks fourth as a reason that developers leave their roles.<\/p>\n\n\n\n In the wake of these trends, tech companies seem to be facing an impending retention crisis in 2024.<\/p>\n\n\n\n While inadequate compensation remains the top reason for developers to leave their roles, good work-life balance, opportunities for growth and a compelling company culture are the top reasons for them to stay. <\/p>\n\n\n\n For companies that don\u2019t have much wiggle-room in the salary department, investing in these pull factors could form the basis of retention strategies.<\/p>\n\n\n\n1 in 3 developers want to move jobs in 2024<\/strong><\/h3>\n\n\n\n
Developers\u2019 confidence in their growth at a three-year low<\/strong><\/h3>\n\n\n\n
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