IT Performance Reported Strong for 4th Quarter 2007
The economic news has not been very good lately. It seems that the sub-prime mortgage mess has spilled over into a general economic slowdown. Unfortunately, the dreaded "R" word is now rearing its ugly head more and more.
But the tech sector appears to be weathering the storm. According to the NEOSA Quarterly Survey, tech companies are going strong, with the exception of having some difficulty finding top tech talent.
- Q4 performance: Good / Very Good - 64%
- Q4 '07 vs. Q3 ‘07: Better / Much Better - 54%
- Q4 '07 vs. Q4 '06: Better / Much Better - 62%
- Expectations for the next 12 months: Better / Much Better - 81%
- Employment change for the next 12 months: Increasing Staff - 66%
- Challenges finding top tech talent: Some Difficulty - 34%; A Hard Time - 25%
The trends for these performance measures is relatively consistent; however, bright spots are clearly evident. Optimistic expectations for the coming year are very strong at 81%, rarely have we seen it that high. And there's clear confidence in this expectation since 66% of respondents are making plans to add staff this year. Again, rarely is that report so high.
Our hope is for all of you to escape the dampening effect of the economy. In the meantime, stay focused on sales, continue to invest in development, and grow your staff - the industry will then hopefully be poised for explosive growth once the market corrects.
