Companies across the globe are grappling with labour shortages and businesses with a technology focus are not immune. Technology skills are in short supply. If you are a software engineer or developer in Australia or anywhere else in the world, the choice of which company you’d like to work for is yours.
As an employer, what can you do to attract and retain top talent in a Gen Z, gig economical post pandemic world we live in?
Provide a career framework
Promoting from within not only provides a clear path to greater compensation and responsibility, it also helps employees feel they’re valued and a crucial part of the company’s success. Creating development frameworks helps staff to understand what their possible career paths could be and how to set goals to get to that next level. Providing a documented career path helps with retention as people can plan their future and see a route for their own development.
Prioritise professional development and a chance to learn something new
Give your team the opportunity to learn something new – new technologies that are not only in demand now, but will continue to be so into the future.
Providing a professional development allowance can also win over candidates. Our employees are able to spend their allowance on what they feel will help them level up in their career. This can be anything from a training course, a conference, or even books.
Commitment to diversity and inclusion
The positive effects on business performance of recruiting a diverse and inclusive workforce are well-documented. A strong diversity, equity, and inclusion (DEI) strategy can help companies attract talent as it has quickly become an important factor in candidates’ decision-making.
Objectively testing for capabilities and skills rather than relying on past experience and credentials has shown to improve diversity. For example, more companies are recognising that they can find excellent software engineering candidates by scouting recruits with coding boot camp certificates and highly rated coding work samples, regardless of whether the candidate has a computer science degree from a prestigious university. This approach opens up more opportunities for underrepresented candidates and widens the talent funnel.
Transparent and accountable senior management
At high-performing technology companies, managers are often visible and willing to engage directly with employees. They also act with speed and decisiveness and hold themselves accountable for real outcomes.
The leadership team needs to be accessible to staff and have an ‘Open Door’ policy. Employee engagement surveys are important to capture how team members feel about certain issues and how those issues are being communicated and acted upon.
The best talent, of course, will prefer a company where they feel their work has real impact. If employees feel leadership is unaccountable, they’re more likely to leave to build a competing company.
Be open regarding the compensation and benefits
If you’re looking for the best, you have to be prepared to offer a compensation package that’s really competitive. Be proactive about getting the word out about other benefits and perks, along with the conditions for obtaining them, that your company provides.
A recent Skillsoft report showed IT salaries had risen by 10 percent across the APAC region, but compensation wasn’t the top reason why respondents were leaving employers. Nearly 60 percent cited a lack of growth and development opportunities as their top reason for doing so - taking precedence over better compensation (39 percent).
Demonstrate a commitment to a healthy company culture
Prospective employees need to know what kind of company they’re applying for, the values they embody, and if it’s a mutually beneficial fit. A commitment to a good employee experience reduces the chances of burnout. Make this clear in your job description to showcase your culture.
Provide flexible working arrangements and/or remote work
Even before the COVID-19 pandemic hit, those working in engineering and other technology roles enjoyed the flexibility of working from home. This was more prevalent for individual contributors, or those more advanced in their career
Most companies specify whether a role is remote in the job description, but some still limit hiring to local areas, or, in most cases, at least compatible time zones. Decide what works best for you and tailor your job advertisements accordingly.
If the role specifically requires in-person work, clearly communicate why and to what extent. Also make sure that new hires receive all the necessary equipment and resources prior to starting to ensure an optimal experience.