Survey: IT execs afraid of job losses

IT executives are worried they may lose their jobs and feel more stressed at work, but still believe the sector can ride out the storm by keeping an eye on long-term goals, according to a survey by the Chartered Management Institute.

The survey of over a thousand execs showed just nine per cent of IT execs feel secure in their jobs, and 63 per cent find work more stressful – some 41 per cent have lost sleep over economic worries. Some 61 per cent feel the economic woes will hurt their organisation.

IT pros out of work face trouble, as 37 per cent of the surveyed execs said their firms had frozen recruitment. But – according to 45 per cent of respondents – those in work are more likely to see training to develop their own skills, which is seen as a long-term way to keep the business competitive.

Indeed, with 91 per cent saying they’d been through redundancy before, many were taking a long-term view. Nearly a third are still keen to take risks at work, and 66 per cent are willing to take on a new job – and despite the stress, 37 per cent want a more senior position. Indeed, 43 per cent are optimistic about their firm’s prospects.

Companies must also look long-term. Some 68 per cent of execs feel that innovation is the best way to keep ahead in a recession, and just 39 per cent believe cutting costs is key.

Jo Causon, director of marketing and corporate affairs at CMI, said: “It is vital that the UK’s leaders remain composed in the face of growing economic pressure because knee-jerk reactions will only serve to exacerbate the problem. It’s easier to manage when times are good, but the current climate is a real test of how strong the UK’s leadership credentials really are.”

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