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Fayetteville stands out for low turnover rate of tech workers

By Staff Report, posted Oct 12, 2022 on BizFayetteville.com

Photo courtesy of NC TECH

The annual NC TECH Talent Innovation Index Release and Briefing webinar was held this morning, Oct. 12. The virtual event was hosted by NC TECH research partner Ted Abernathy with Economic Leadership to provide the results and rankings. 

The methodology, developed with input from tech leaders, uses a list of metrics grouped into three sub-indexes: tech talent supply-weighted 45 percent, tech talent demand-weighted 35 percent, and innovation-weighted 20 percent. 

One of the biggest factors affecting not just the tech industry but all industries is the labor shortage. However, North Carolina’s tech industry continues to grow despite this discouraging reality. “...There’s never been a time where North Carolina's rankings in terms of being a good place to do business have been any higher…” shared Abernathy. 

Fayetteville displayed the lowest turnover rate of tech workers across the ten North Carolina metropolitan areas that were being compared. With a turnover rate of just 32.8 percent, Fayetteville shows stability in the tech industry and positive signs for growth. 

Fayetteville also ranked highly on the list of business applications per 1,000 adults claiming the third spot with 27.5. Raleigh-Cary holds the second spot with 27.5 and Charlotte-Concord-Gastonia takes the lead at 30.7.

North Carolina possesses a lot of competitive assets for technology companies such as leading research universities, strong population growth, competitive energy prices, a reliable energy grid and more. “Our estimates are that we’ll be one of the leaders in the United States of technology growth over the next ten, fifteen years well above the national average, well above the southern average…” commented Abernathy while summarizing the findings of the research.

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