Appealing to IT Talent Will Take More than a Paycheck
Total employment package and growth opportunities can sway employees.
Trying to lure top IT talent from other companies? You’re not alone, but convincing a tech professional to make a move will take more than a hefty paycheck.
In the current market, experienced IT workers consider various benefits before switching jobs. Flexibility, growth opportunities, a good company culture, and work-life balance are factored into the decision-making process. Adding to the challenge, the market is now employer-driven as opposed to employee-driven, like it was during The Great Resignation. As a result, this gives employers more leverage but also makes employees more cautious about seeking new opportunities. In fact, 66% of tech workers expect to search for a new position in the next year, down significantly from 85% just a year ago. Of those surveyed 25% listed pay as their top priority, but almost as many highlighted career development (18%) and flexibility (16%) as key factors.
For companies wanting to attract employed tech professionals, they must strategize compelling packages that go beyond base pay and highlight why the move benefits the candidate’s career and personal life.
Salary Transparency Matters
An easy step that companies often overlook is salary transparency. 90% of job seekers consider salary disclosure crucial when considering a new opportunity. Omitting salary ranges in job postings frustrates candidates and can unnecessarily lengthen the hiring process. Being honest about compensation allows job seekers to determine if the interview process is worth it, saving everyone time and building company trust from the start.
The Added Bonus
Many employers also turn to sign-on bonuses to tip the scales in their favor. 52% of companies now offer these bonuses to attract IT talent. In 2023, 45% of companies raised salaries to keep up with, and many workers feel their current pay no longer reflects their value. By offering a sign-on bonus, it can help convince a candidate to make the change.
Build More Than a Paycheck
While compensation will always be a significant factor, the total package offered can make all the difference. This includes opportunities for professional growth, the freedom to work remotely, and a workplace culture that values balance and well-being. Companies that invest in growing employees’ careers, offer learning programs, and supportive environments will be far better positioned to attract top talent.
Time to Rethink Your Offer
Whether you’re a startup competing with tech giants or a Fortune 500 company wanting to keep employees, the competition for IT talent is intense. By strategizing compensation, being transparent, and creating a workplace people want to join, companies can stand out and appeal to candidates who can take their company to the next level.
For more insights into current IT hiring challenges, download our eBook, Analyzing the Top IT Hiring Challenges.
