While the information industry races forward, its HR departments are grappling with a perfect storm of hiring delays, fierce competition for talent, and rising turnover, forcing a revolution in how they attract, develop, and keep the people who power our digital world.
Key Takeaways
- In 2023, the average time-to-hire for software developers in the US information sector reached 47 days, a 12% increase from 2022 due to talent shortages
- 68% of HR leaders in the information technology industry reported challenges in sourcing qualified cybersecurity professionals in Q4 2023
- The cost per hire in the software and IT services subsector of the information industry averaged $4,200 in 2023, up 8% year-over-year
- Voluntary turnover rate in the US information sector stood at 14.2% in 2023, higher than the national average of 12.5%
- 52% of tech employees in information firms cited career growth as top retention factor in 2023 surveys
- Average tenure for software engineers in info industry: 2.8 years in 2023
- Women held 26% of tech roles in information industry in 2023, down from 28% in 2021
- Ethnic minorities comprised 32% of the information sector workforce in US 2023
- 41% of info companies had DEI officers in 2023, up 15% from 2022
- Average base salary for software engineers in information sector: $128,000 in 2023
- Total compensation packages in IT services averaged $165,400 including bonuses 2023
- 401(k) match rates: 4.5% average in info industry 2023
- Average training hours per employee in info industry: 52 hours annually in 2023
- 78% of info firms invested in upskilling for AI proficiency 2023
- L&D budget as % of payroll: 3.2% in software subsector 2023
The information industry is struggling with slow, expensive hiring but actively using AI and training to adapt.
Compensation and Benefits
- Average base salary for software engineers in information sector: $128,000 in 2023
- Total compensation packages in IT services averaged $165,400 including bonuses 2023
- 401(k) match rates: 4.5% average in info industry 2023
- Health insurance premiums covered 82% by employers in telecom info 2023
- Annual bonus as % of salary: 12.3% for mid-level info pros 2023
- Remote work stipend averaged $1,200/year in software publishing 2023
- Equity grants: 68% of tech info firms offered RSUs vesting over 4 years
- Paid time off average: 22 days in data processing firms 2023
- Overtime pay compliance: 95% in broadcasting subsector 2023
- Salary increase budget: 4.2% projected for info sector 2023
- Wellness benefits valued at $800/employee annually in 2023
- Parental leave: 16 weeks average paid in large info companies 2023
- 457(b) plans used by 31% of state info agency employees 2023
- Perk spending up 14% to $1,500/employee in internet services
- Commission structures: 9% of on-target earnings in sales info roles
- Tuition reimbursement: $5,250 average cap in 2023 info HR
- Long-term incentive plans covered 42% of executives 2023
- HSAs funded 75% by employers averaging $1,100 contribution
- 4-day workweek pilots in 18% of info firms boosting comp satisfaction 25%
- Variable pay mix: 22% of total comp in tech info leadership 2023
- Pet insurance offered by 39% of innovative info companies 2023
- Salary transparency laws impacted 45% of CA info firms 2023
- Merit increase actual: 3.8% vs planned 4.1% in info sector
- Commuter benefits averaged $150/month reimbursement 2023
- 75% satisfaction with benefits packages in surveys 2023
- Executive perks valued at $250,000 total comp slice 2023
Compensation and Benefits Interpretation
The modern tech compensation package is a high-stakes cocktail of cash, code, and creature comforts, meticulously crafted to lure talent with a six-figure base, then keep them pacified with everything from pet insurance to four-day workweek pilots, all while carefully ensuring that the actual merit increases never quite meet the projected budgets.
Diversity and Inclusion
- Women held 26% of tech roles in information industry in 2023, down from 28% in 2021
- Ethnic minorities comprised 32% of the information sector workforce in US 2023
- 41% of info companies had DEI officers in 2023, up 15% from 2022
- LGBTQ+ representation in tech info firms: 8.5% self-identified in 2023
- Gender pay gap in software publishing: 18% favoring men in 2023 data
- 55% of info HR reported improved innovation from diverse teams 2023
- Black employees: 7.2% of info sector vs 12% national average 2023
- 62% of firms offered unconscious bias training in 2023
- Hispanic/Latino workforce share in telecom info: 15% in 2023
- Employee Resource Groups (ERGs) present in 78% of large info firms 2023
- 29% increase in women in leadership roles in data processing 2023
- Disability inclusion: 4.1% reported in info industry surveys 2023
- 71% of diverse hires felt included per belonging scores 2023
- Asian employees dominated at 45% in certain tech info roles 2023
- Pay equity audits conducted by 53% of info companies annually 2023
- 38% of boards in public info firms had gender diversity >30% 2023
- Veteran hiring goals met by 49% of info contractors 2023
- Intersectional DEI programs in 34% of firms addressing multiple identities
- 66% correlation between DEI maturity and revenue growth in info sector
- Neurodiversity hiring initiatives in 22% of tech info companies 2023
- Supplier diversity spend: 12% of total in info giants 2023
- 75% of employees valued inclusive culture in retention surveys 2023
- Women in STEM info roles: 24% overall in 2023 US data
- 82% of DEI budgets increased 10%+ in info HR 2023
- Bias incident reports down 19% post-training in 2023
Diversity and Inclusion Interpretation
This collection of statistics paints a picture of an information industry earnestly building its diversity dashboard while still struggling to connect all the wires, showing progress is possible but far from automatic.
Employee Retention and Turnover
- Voluntary turnover rate in the US information sector stood at 14.2% in 2023, higher than the national average of 12.5%
- 52% of tech employees in information firms cited career growth as top retention factor in 2023 surveys
- Average tenure for software engineers in info industry: 2.8 years in 2023
- 41% of information sector workers planned to job-hop within 12 months per 2023 data
- Retention bonus usage rose to 63% in high-turnover IT subsectors, averaging 20% of salary
- Burnout contributed to 29% of voluntary exits in data processing firms 2023
- Employee Net Promoter Score (eNPS) in telecom info sector: 38 in 2023
- 67% of retained employees valued flexible work arrangements in 2023
- Turnover cost per employee in software publishing: $25,400 average 2023
- 48% retention improvement from mentorship programs in info firms
- Regret rate for job changes among info workers: 22% within 6 months 2023
- 59% of HR reported manager quality as key to reducing turnover by 15%
- Exit interview response rate in broadcasting: 72% in 2023
- Long-tenured employees (>5 years) comprised 28% of info workforce 2023
- 35% drop in turnover after implementing stay interviews quarterly
- Compensation cited in 42% of turnover reasons in internet services 2023
- Retention rates for hybrid workers: 87% vs 79% office-only in info sector
- 51% of firms used predictive analytics to forecast turnover risk accurately 82% of time
- Voluntary quits peaked at 3.1% monthly in info industry Q2 2023
- 64% loyalty boost from recognition programs per employee feedback
- High-performer turnover cost firms 2.5x more than average employees
- 73% of retained staff valued mental health support in 2023 surveys
- Turnover in entry-level info roles: 28.4% annually in 2023
- 46% improvement in retention via DEI initiatives measured 2023
- Average employee lifespan in firm before turnover: 4.1 years info sector
- 69% of info HR used pulse surveys reducing turnover by 12%
- Female retention in tech info roles: 75% vs 82% male in 2023
Employee Retention and Turnover Interpretation
Despite the industry's heavy investment in retention tactics, from bonuses to burnout programs, the data reveals a simple truth: information sector employees are voting with their feet, seeking career growth, flexibility, and good management, and firms are paying a high price for forgetting that human connection matters more than data points.
Recruitment and Hiring
- In 2023, the average time-to-hire for software developers in the US information sector reached 47 days, a 12% increase from 2022 due to talent shortages
- 68% of HR leaders in the information technology industry reported challenges in sourcing qualified cybersecurity professionals in Q4 2023
- The cost per hire in the software and IT services subsector of the information industry averaged $4,200 in 2023, up 8% year-over-year
- 72% of information sector companies used AI-driven applicant tracking systems in 2023, reducing screening time by 35%
- Entry-level data analyst positions in the information industry saw a 25% increase in applicant volume from 2022 to 2023
- 55% of tech firms in the information sector prioritized internal mobility for hiring in 2023, filling 40% of roles internally
- The offer acceptance rate for cloud architects in information services dropped to 82% in 2023 from 90% in 2021
- 61% of HR in broadcasting and telecom (information sector) used virtual interviews exclusively in 2023
- Hiring for AI/ML engineers in data processing firms surged 40% in 2023
- 49% of information industry recruiters reported ghosting by candidates at rates over 20% in 2023 surveys
- Average sourcing cost for UX designers in internet publishing reached $2,800 per hire in 2023
- 74% of motion picture and information firms adopted skills-based hiring in 2023
- Time-to-fill for DevOps roles in software publishing averaged 53 days in Q3 2023
- 67% increase in remote hiring for information sector roles post-2022
- 58% of HR in telecom used employer branding to attract 30% more applicants in 2023
- Candidate experience scores for information industry averaged 4.1/5 in 2023
- 45% of hires in data centers (information) were via referrals in 2023
- ATS adoption in publishing reached 81% by end-2023
- 39% YoY growth in job postings for blockchain specialists in info sector
- Average interview loops for senior data scientists: 5.2 stages in 2023
- 62% of information firms used video assessments in hiring 2023
- Decline in campus hiring by 22% for info industry grads in 2023
- 71% satisfaction with diversity in applicant pools reported by HR
- Cost of bad hires in IT services: $50,000 average in 2023
- 54% of recruiters in info sector used LinkedIn premium sourcing
- Hiring velocity index for software roles: 1.8 months in 2023
- 66% of firms offered signing bonuses averaging $15,000 for critical roles
- Passive candidate sourcing up 28% via AI tools in 2023
- 73% reduction in bias claims post-blind resume screening in info HR
- Job posting lifespan for info roles: 28 days average in 2023
Recruitment and Hiring Interpretation
In 2023, the information industry's HR landscape became a costly, AI-assisted scramble, where finding a needle in the talent haystack took longer and cost more, only for many of those needles to ghost you or decline the offer.
Training and Development
- Average training hours per employee in info industry: 52 hours annually in 2023
- 78% of info firms invested in upskilling for AI proficiency 2023
- L&D budget as % of payroll: 3.2% in software subsector 2023
- 65% completion rate for online micro-learning modules in telecom
- Leadership development programs reached 42% of managers 2023
- ROI on training measured by 56% of info HR at 4:1 ratio average
- 71% of employees requested more cybersecurity training 2023
- VR/AR training adoption: 24% in data centers for simulations 2023
- Certification reimbursement: 89% of tech info firms covered costs
- Mentoring pairs: 1:5 ratio average in publishing firms 2023
- Skills gap closed by 37% via internal academies in 2023
- Gamification in L&D boosted engagement 48% per surveys
- 82% of C-suite prioritized digital skills training 2023
- Personalized learning paths used by 67% reducing time-to-competency 30%
- External training spend: $1,200 per employee average 2023
- 59% improvement in performance post-onboarding training
- Cross-functional training in 51% of firms for agility 2023
- Learning analytics adoption: 73% tracking effectiveness 2023
- Soft skills training hours: 22% of total L&D time 2023
- Succession planning training covered 35% of high-potentials
- Mobile learning access: 91% of info workforce utilized 2023
- DEI training hours averaged 8 per employee annually 2023
- Coaching sessions: 12/year for executives in large info firms
- 44% reduction in errors post-compliance training 2023
- Peer learning programs in 62% boosting knowledge share 55%
- AI tutors implemented by 29% for personalized dev 2023
- Training satisfaction score: 4.3/5 average in surveys 2023
Training and Development Interpretation
The data reveals the information industry is furiously upskilling its human workforce, not out of pure generosity, but because it has calculated—quite sensibly—that an employee who is well-trained, engaged, and cyber-aware is far less expensive than one who is obsolete, error-prone, or breached.
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