Attracting & retaining talent in a tech-enabled economy

  • Published: 15 March 2023,
  • Say Technology Team

In a post-Covid, post-Brexit world we all recognise there has been a seismic shift in the employment landscape. Companies have always competed to attract and retain the top tech talent. Yet, this has now been further compounded by this new era of hybrid working, making it an even more candidate-driven market.

Given that 95% of IT professionals prefer a hybrid working model this new norm of hybrid working is no longer recognised as a benefit to potential employees. According to LinkedIn data, ‘remote work’ job listings have?increased 457%, with the tech sector a leader in job listings.

This move to flexible, remote working has further driven talent away and the imbalance between candidates and demand is large enough that even a moderate improvement in conditions is not enough to make it easy to hire. And whilst employers are constantly focussing on recruitment, they need to be equally thinking about retention strategies. So how can businesses differentiate themselves in today’s competitive market?

Company culture is King

In the battle to attract the best talent, a consistent, engaging, and genuine employee experience guarantees a clear advantage. In addition, new economic trends post-pandemic, namely the Great Resignation, made it even more imperative to prioritize culture, spelling the difference between success and failure.

Employers need to foster an internal mentality and an external employer brand that attracts and retains employees by focusing on communication, transparency and trust. They need to demonstrate how they put employees first. And they need to present a human face to the business so that staff become brand advocates.

Organisations today need to demonstrate to potential candidates that they lead with compassion, encourage people to be their authentic selves and stay low-ego – ensuring employees at all levels feel comfortable and heard.

Diversity and inclusion

Many businesses are starting to publicise their commitments to diversity and inclusion. However, this is more than just a tick boxing exercise. To be authentic organisations must go beyond a written statement and drive change within their businesses, working towards a more equitable and discrimination-free environment.

Focusing on the tech sector, diversity and inclusion has received much attention in recent years. From addressing gender disparity in tech boardrooms, to encouraging people from ethnic minorities to consider STEM careers – there have been numerous interventions with the aim of addressing a perceived imbalance in representation within tech.

A study by Tech Nation revealed that 50% of workers in the labour market are women, in tech, it is half that, at 26% Furthermore, Colour Intech found that only 2.6% of tech leadership positions were held by ethnic minorities. These figures are testament to the fact that more needs to be done within the sector. Businesses that can demonstrate their commitments towards fostering a more diverse, inclusive culture, are more likely to stand out in a competitive market.

Speak their language

When it comes to hiring new candidates, employers need to remain open to talent in all its many forms. Particularly within tech, it is important that recruiters think ‘tech first’. These people are passionate about technology, so use that to attract them. Making the process interactive, seamless, and engaging will help businesses stand out.

Broadening the talent pool

When looking to hire Gen Z, then develop relationships with relevant universities &/or FE colleges. Establishing a graduate and apprenticeship intake scheme will not only generate a pipeline of prospective employees it is also a clear signal of an openness to new ideas. That can only help further bolster your culture strategy.

Continuous learning

People want to know that development programmes exist in an organization and if they don’t, that’s a red flag for them. New employees expect paths forward to both grow skills and further their careers. According to LinkedIn’s annual Workplace Learning Report for 2022, 72% of Learning and Developing leaders believe fostering a culture of continuous learning is critical to navigating the uncertainty of our new normal. As technology is constantly evolving, businesses that can keep up with innovation, offer high-quality training and development and provide regular, detailed feedback to employees, will stand out.

How we can help

At Say, we work with businesses like yours to support in the challenge to recruit and retain high calibre tech personnel. Our Talent Acquisition Programme is designed to help with your recruitment marketing & employer brand. With organisations across the technology sector struggling to attract, recruit and retain top talent we believe it comes down to a few key elements: establishing your employer brand, showcasing your culture and empowering your people to be your best brand advocates for new recruits.? 

To find out how we can help elevate your brand and ensure that you can meet necessary targets, we would love to hear from you.

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