81% of Tech Talent Living Near U.S.’ Top Innovation Hubs Looking Towards Relocation
With the technology workforce in the U.S. continuing to experience significant impacts from Covid-19, .Tech Domains, the leading top level domain name for the technology ecosystem, released a new report today — the .Tech Workforce Reboot Report — which examines just how the crisis has affected tech talent and how this cohort is reimagining the future ways they’ll work and live as a result.
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The report, made up of a study commissioned in August to over 500 U.S.-based technology workers in IT, Software Development, Internet and Hardware, found that Covid-19 is placing pressures on tech talent to move to more affordable areas. In fact, 81% of tech workers living near U.S.’ top tech hubs say they are considering or already have plans to move to a more affordable area. The report also found that an overwhelming majority of tech talent say they are more likely to consider freelance roles and side gigs since the onset of Covid-19.
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Speaking about the findings, Suman Das, Brand Director, .Tech Domains, said, “As Covid-19 accelerates remote work environments for the tech workforce, many are using the flexibility to pursue more affordable lifestyles. Part and parcel of that is the increase we see in the broad desire to take on freelance work. While this allows tech talent to work in ways that meet their specific needs and preferences, it’s also creating new challenges for employers when it comes to managing a distributed workforce.”
While the report shows the impact taking place across the entire technology workforce, findings suggest that millennial tech workers have taken a more significant blow than other generations, with the cohort being significantly more likely than older tech workers to say that they have considered moving to a more affordable area. Additionally, an overwhelming 84% of millennial tech workers with a full-time job say that they are more likely to consider taking on freelance work since the onset of Covid-19.
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