Attracting and retaining tech talent has emerged as a critical concern for most businesses. With the significant expansion of technology in organizations, the demand for tech talent has expanded quicker than the number of tech talent that has entered the labor market in recent years.
As a result, we’re left with an abundance of open positions and not enough tech talent to fill them.
Let's take a look at the top 5 strategies for sourcing the right talent and overcome the challenges of finding tech talent. Hopefully, by the time you're done reading the post, you'll be able to take the right direction for sourcing tech talent fast in this hypercompetitive market.
Study the Tech Talent’s Interests
First, it is critical to comprehend the behavior and areas of interest of the talent you wish to recruit. In addition to compensation, various other aspects might pique the interest of such individuals.
What attracts their interests? Here are a few things:
- Employee diversity
- Sense of belonging
- Flexible work hours
- Teamwork activities
- Employee recognition
Every company should take employee diversity seriously and strive to maintain a healthy work-life balance for all of its employees.
Diversity contributes to the company's great and empowering culture. Being a role model, with anti-discrimination and anti-racism policies, puts the company one step ahead of its competition.
Sense of Belonging
The sense of belonging is also very important, which means that the employee has trust in the company and that the company has trust in the employee.
Making employees feel responsible for their contributions to the final product or service can result in higher levels of satisfaction and engagement, which in turn increases trust in the company and contributes to its growth and success.
Flexible Work Schedules
Employees want to feel in control of their jobs, and this includes the ability to determine their work schedules. When an emergency occurs, employees want to know the company understands their situation. Employees that have the ability to manage their time better, can manage their lives even better, and be more productive.
Successful companies place a strong emphasis on improving and encouraging teamwork. In order to achieve this, it is critical for new work teams to participate in collaborative initiatives and team-building events. You can strengthen team cohesion and increase productivity and efficiency through online team-building games.
People, in general, are interested in knowing what they are good at. It is both reassuring and uplifting. Managers have the capacity to boost their employees' confidence by recognizing them in a way that is meaningful.
Make the effort to communicate with them one-on-one on a frequent basis. Ask them how they are feeling, what they think, and how you may be of assistance. And pay attention. While you are not required to fix all of their problems, the experience of being listened to will allow your most anxious employees to begin to feel more at ease.
Example of a company that combines work, wellness, and leisure: Airbnb
Airbnb provides a work environment that encourages creativity and autonomy; training and amusement are provided in equal measure. Over 40% of the staff working at Airbnb are women, with approximately 11% of the workforce belonging to marginalized demographics.
Establish Your Presence and Reputation on the Tech Scene
Potential candidates learn about prospective employers through company content and media, such as blogs, news articles, and social media. This means companies must be visible in order to expand their reach, and working with your marketing team is one of the most effective ways to accomplish this goal.
The Employer Branding Technique
A technique known as employer branding is based on the use of employee recommendations as a method of attracting and retaining talent in a competitive market for a company. Such recommendations are visible in digital networks. They are regarded as having high credibility in the eyes of third parties.
- use forums and podcasts to discuss their positive day-to-day experiences at the company
- publicly applaud what they see the company is accomplishing for them
- talk about how working at the company has helped them advance in their professional careers through filmed videos
Example of a company doing the employer branding right: Heineken
In 2016, Heineken launched their now-famous "Go Places" campaign, which was later upgraded with "Go Places 2.0". It's a series of videos presenting the stories of current Heineken workers who work in various roles and locations worldwide. They created the campaign with the goal to do something different and fun, and they experienced a 56% increase in talent applications.
Invest in Regional Capacity Building
The investment of time and resources into training people is one way to expand the available workforce in your area. Consider forming alliances with other businesses that share your goals and with schools, technical training programs, and universities.
Here are a few ways how you can help the potential tech talent in your area develop their skills:
This action can also make your company more well-known in the region and enhance its reputation.
Consider promoting these events on social media, forums, and educational organizations to consistently reach new tech talent.
Example of a company organizing events to attract new talent: Friendz
The photography and digital marketing app Friendz is known for organizing events to attract talent. On one occasion, they invited potential candidates to a dynamic treasure hunt in a Madrid park where they tested their personality and "can-do attitude" through various activities.
Create a Meaningful Company Purpose
Another aspect that can encourage talented individuals to become a part of your company is company purpose.
Company purpose is often confused with company mission, but the two are not the same thing. Company purpose is something 100% inspirational. It is what motivates you every day to strive for change. It is what drives you to seek improvement. The mission is a short or medium-term goal that helps you move closer to your ultimate goal by taking small steps in the right direction.
Many individuals, whether they are consumers or potential members of your team, are interested in the rationale for which your company was founded, in addition to your product or service.
Example of a company with an excellent and clear purpose: Google
Google is one of the most well-known companies in the world, but do you know what makes it successful? They've made their point crystal plain. Their purpose statement goes like this: "To organize the world's information and make it accessible to everyone."
Take Care of Your Employees
Attracting tech talent and retaining them does not stop at the first stage; once an applicant joins a company, the company must provide them with compelling reasons to stay and further their professional career.
What is the best approach to care for employees?
You should provide a:
- Healthy work-life balance
- Positive working environment
- Career growth
- Cash compensation
Example of a good talent management company: HubSpot
Hubspot, a leader in inbound marketing software, makes significant investments in the well-being and training of its staff. For example, every "HubSpotter" is entitled to a stipend of at least $5,000 per year for training purposes. A variety of courses and online learning options are also available, semester-long classes, weekend workshops, and online courses.
Companies are confronted with a situation that has never been seen before. The pandemic has expedited digital transformation, creating a gap in the corporate network that will be difficult to close in the future. To fill positions that require high specialization, companies have unleashed a war for technological talent.
To overcome the challenges of filling tech positions, and maintaining a technology talent trust, companies should adopt strategies like:
- Giving employees what they want like flexible work schedules
- Creating a strong employer brand
- Investing in regional capacity building
- Creating a strong company purpose
- Offering attractive employee benefits