Labor force is No. 1 worry for NC tech execs; 86% of companies are still hiring

RALEIGH – Hiring or retaining workers combine to create the top concern for North Carolina technology leaders, says a new survey from the North Carolina Technology Association. And despite economic concerns, more than 86% of respondents say their companies are continuing to hire.

As in three earlier surveys this year, executives are for the most part bullish on the economy and their companies.

“Leaders in North Carolina’s tech community have displayed strong positive sentiments in all four of these quarterly polls in 2022,” said Brooks Raiford, CEO of NC TECH, in a statement.

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In fact, IT job openings surged in September to the third highest number on record.

“However, there was increased concern about the potential impact of inflation,” he added.

Indeed.

(You can watch the webinar about the poll at this link: https://www.youtube.com/watch?v=TBaSv9U5HCI )

Inflation is the single largest worry at nearly 85%, the Tech Pulse Leadership Poll Series.

But it’s jobs, jobs, jobs on the priority list:Uunemployment/talent (48.6%) and the “great resignation” (33.3%) add up to a bigger worry.

Other concerns include:

38.4% supply chain
31.2% political
26.8% Russia/Ukraine

The tech survey’s findings reflecting the continuing strong demand for employees in the Triangle with thousands of posted openings as reported by WRAL TechWire’s exclusive Jobs Report.

Few tech companies also are planning labor force changes with the biggest shift being the implementation of hiring freezes at 11l.7%. That’s down from 17% in the previous survey.

Only 2.2% have either made layoffs or are considering other changes such as pay cuts, the survey says.

The quarterly polling is underwritten by Stearns Financial Group.