10 May 2018 · Absolute IT
Our latest Wellington IT Report is reveals that once again, Wellington rates as one of the best places for IT professionals to work and live in New Zealand.
Thriving tech sector
The tech sector in Wellington is thriving. This is the region that has the highest concentration of web-based and digital technology companies in New Zealand, but not only are there a lot of tech companies in Wellington, they are also generating excellent revenues. In the latest TIN Report, the TIN200 companies in Wellington and the Lower North Island region had a 10.5% revenue growth over the last year and generated over $2.1 billion revenue in 2017.
Not only are tech companies doing well in the region, but tech professionals in Wellington have the highest median salary rates in New Zealand. The median base salary for IT techs in Wellington is $95,000 ($90,000 for New Zealand), and the median contracting rate is also above the national median at $100/hour ($95 for New Zealand).
Sought after skills
With almost a third of IT employers stating that ‘new IT projects’ is the key reason why they will be hiring in 2018, it is clear that things are just going to keep on ramping up in Wellington. In terms of sought-after skill sets in the region it is evident that the need for Agile and Digital/Cloud skills are growing and that the available skill sets do not match demand.
The growing demand for these skills is mainly due to digital transformation projects that are taking place across private and public organisations. This is a global trend as the world is adapting to the digital revolution and there is a growing digital skills gap across the world.
Training and development is a hot button
It seems that as attracting and retaining staff is the number one business challenge for Wellington employers and they are investing heavily into their workforce’s training and development as 85% of Wellington employers allocate budget towards training and development. This is a savvy move as there is an upward trend of IT techs who rate ‘training and development opportunities’ as one of the major reasons to accept a new job offer.
It is in fact interesting to note while ‘better salary’ is one of the top three reasons to accept a new job offer, ‘challenging work’ takes the top spot for IT techs. It seems that money cannot compete with interesting projects and opportunities for career growth.
Money isn’t everything
And the role of non-tangible factors cannot be underestimated. While the 88% of IT techs in Wellington rate their current workplace as a good place to work, the 12% that are unhappy rate ‘management style’ and ‘workplace culture’ as the biggest reasons for their unhappiness at work. Low salary only comes in at third place.
Overall the majority of Wellington IT employers (59%) are planning to get involved in corporate social responsibility initiatives in 2018 and 64% are looking to be part of initiatives to grow the diversity of their workforce, with ‘women in tech’ initiatives and internship programmes their main focus.
It is clear that this region is a tech powerhouse and showing no signs of slowing down, the saying that ‘size is not everything’ certainly applies to Wellington.