The culmination of digitisation, the pandemic, and the Great Resignation have irreversibly changed the workforce and the way that businesses attract and retain talent.
For businesses, this means that there are not only the priorities and expectations of candidates to meet but also the competition from top companies to combat against.
With remote working also contributing to easier exits – and increased opportunities elsewhere – for candidates, businesses have to contend with the changes necessary to attract and retain tech talent. Employer Value Proposition (EVP) and employer branding have never been more integral to a business’s recruitment strategy.
How can you stop losing tech candidates to top companies?
Before getting into the importance of EVP and employer branding, it’s important to note the shifting dynamics that have caused many candidates to be more selective with their job roles and the changes that have occurred with top companies.
FAANG companies – Facebook, Apple, Amazon, Netflix, and Google – are increasingly hiring for roles relating to keywords such as ‘big data’ and ‘cloud’, with listings containing these terms increasing by 57% in 2021.
This is in addition to themes such as ‘digitalisation’ and ‘AI’, showing the rising demand for tech talent to boost FAANG companies’ digital ventures, such as metaverse tech, wearables, and digital media for the purposes of social commerce customer experience.
This means that businesses looking to attract top talent are now competing against companies that seemingly have more resources and benefits at their disposal to hire talent – but is that necessarily true?
Put simply, one major advantage that small businesses have over FAANG companies is their EVP, which is particularly important when considering the major role that ethics/values play in the current recruitment market.
Take Facebook as an example. Having faced accusations of unethical data privacy practices, Facebook has come under considerable scrutiny for their practices and ‘tech ethics’.
For smaller businesses, this opens up the opportunity to consider the key areas that will enhance their EVP:
Plenty of businesses can post their mission statement on their website and social media, but it is highly unlikely that buzzwords and throwaway benefits will attract the candidates you’re looking to attract.
The above questions mainly aim to answer the primary question – what can your business offer that larger companies can’t?
Most tech candidates are highly motivated and driven individuals that are often looking to continually develop within a role.
Given that many businesses will lack a clearly defined career path that can be conveyed to candidates, any business emphasising the potential for career growth is likely to have a key competitive advantage.
This goes beyond describing the traditional career ladder – research has indicated that 52% of Millennials, who are soon to make up the majority of the workforce, expect to rise rapidly through the ranks of an organisation.
Does your organisation offer the opportunity for rapid advancement? Do you have a high retention rate? Have you got current examples of employees who have risen the career ladder?
These are all elements that can be utilised in recruitment efforts to convey your clear commitment to growth for candidates, many of which will align significantly with the prospect of a clear internal infrastructure and development process.
When employee benefits are discussed, salary is generally emphasised above most other benefits.
Though salary should not be the sole benefit relied on by businesses, it is important to acknowledge salary with transparency.
From entry-level to senior roles, increasing transparency around wages and integrating this into the recruitment process is essential, with research indicating that younger employees are likelier to ask for (and receive) more equal wages than past generations as wage trends shift.
This transparency doesn’t just relate to salary, either, as candidates will also be interested in finding out further information around career progression, training/skill development, and even areas such as diversity and inclusion policies.
Areas to outline/focus on during the recruitment process include:
Adding clarity to these areas and conveying this to candidates means that they will not be left to seek out this information themselves, or worse for businesses, seek out this information elsewhere.
A wide variety of inclusion policies and benefits have arisen with businesses in recent years, yet many will not advertise these benefits or include them in their messaging.
From mental health initiatives to parental leave, there are multiple benefits that your business may be offering that candidates are highly interested in.
Rather than relying on candidates asking about these benefits, make these benefits central to your branding efforts to show how you value employees and their wellbeing.
Do you offer flexible work schedules? Unlimited holidays or sick time? Fully paid maternal and paternal leave? Mental health days?
Conveying to candidates that you value their wellbeing whilst working can demonstrate that you value them beyond a transactional relationship, and also weaves in with wider recognition and compensation efforts.
If there is one benefit that smaller organisations have over the likes of FAANG companies, it’s that they can attach a more personal touch to their recruiting efforts.
Your website and social media will be the first port of call for most candidates, making your digital presence a key element of your recruitment efforts – rather than a faceless, impersonal entity, most candidates will be attempting to get a better picture of company culture.
Whether you opt to have existing employees speak about their experience joining your company and progressing, or you celebrate milestones with pictures of team celebrations, it’s important to convey the personality of your business and your brand.
Candidates aren’t just selling themselves to you, you’re also selling yourself to candidates.
Top companies might seem to have the competitive edge, yet a strong EVP and consistent branding can make a significant difference in the war for talent.
Remember to keep in mind that your biggest advantage in attracting top tech talent is emphasising what makes your business different – what can you offer that they won’t find elsewhere?
Once you’ve nailed this down, you can start streamlining your recruitment process.
Get in touch with us today to discuss your tech recruitment needs.