With such increasing success, investment, and attention, the tech industry was bound to start experiencing significant changes.
Areas that have previously posed challenges, such as diversity, are receiving greater attention (and in many cases, scrutiny) in attempts to focus on the societal responsibility that tech companies have.
Corporate Social Responsibility (CSR) can make a business more profitable, resilient, and attractive to top talent – a focus on CSR isn’t just beneficial to society at large, there are multiple benefits for a business’ bottom line and recruitment efforts too.
At a time when tech recruitment has never been fiercer, many businesses will be attempting to shift their approach to recruitment to remain competitive and agile…
But how can CSR be your competitive advantage in tech?
As we’ve mentioned in previous blog posts, tech vacancies are high, with tech jobs reaching the top spot for UK hiring from May 2021 to 2022, rising on a month-by-month basis.
There is continually high demand and seemingly low supply in tech due to the fact that those with tech skills are coveted across industries, rather than having only a concentrated demand in one industry.
This means that employers trying to attract tech talent are contending with businesses of all sizes from a variety of industries, each with their own approach to recruitment.
But how can CSR solve this problem?
The 2021 Porter Novelli Business & Social Justice Study found that 43% of employees said they were reconsidering their current job because their company wasn’t doing enough to address social justice issues.
As attitudes change in society around our ability to make positive contributions through the work we do, there is now a greater demand from the workforce for employers to make a positive impact as well.
88% of employees believe it is no longer acceptable for companies to just make money; companies must positively impact society as well.
As more and more employees and candidates seek work that makes them feel valued and as though they are making a positive contribution, the employers that have a strong CSR strategy and embed this into their recruitment processes will have one up on their competitors.
Some of the biggest names in tech – Google, Amazon, Microsoft, Intel, and IBM – are focusing on their relationship with society through their CSR efforts.
Google, for example, has remained carbon neutral since 2007 (significantly earlier than many other large organisations).
Other examples of Google’s CSR efforts include:
These efforts are alongside other impressive achievements, such as the fact that 52% of the components that Google used to upgrade machines at its data centres in 2015 were refurbished inventory, solidifying Google as a leader in CSR.
Whilst smaller-scale businesses are unlikely to have the finances or resources to achieve such significant, wide-reaching CSR initiatives, Google is still a great example to follow.
As with many other areas of business, it’s always beneficial to follow the lead of industry leaders and learn from their approach (and their successes!).
We’ve spoken before about how salary is no longer enough to rely on when attracting tech candidates.
Instead, a comprehensive employee benefits offering is necessary – flexible working opportunities, work-life balance, career progression opportunities, and now, CSR – to truly attract talent and also get them to remain with your company.
Given that so many tech employees are jumping ship to better roles, there’s never been a more critical period to make sure that your employee benefits act as a method to both attract and retain talent.
The Millennial Impact Report found that 53% of participants had been inspired to work for a company that was committed to making a difference in the world – having a cause to support can truly help to boost a candidate’s opinion of a company.
Amongst such a vast array of potential employers, having benefits that align with a candidate’s values and goals could truly make the difference between them choosing your company over another.
For many tech businesses, there will be an overlap between the purpose and goals of a CSR strategy, and the core values and mission statement of the company.
Many businesses now place high importance on how diverse, inclusive and ethical their business is and how it ties in with their wider culture and values, which is a key facet of your recruitment efforts.
Demonstrating that your business takes an interest in wider social issues, rather than only focusing on issues that impact your profit margins, is the best way to attract candidates who will not only share these values but also those that will be a great cultural fit.
This adds another area of focus for your recruitment efforts, too.
In the same way that benefits such as training or flexible working opportunities would be highlighted during the recruitment process, your CSR efforts should be as well.
Embracing CSR could be the difference between attracting in-demand candidates or losing out to larger companies that can offer higher salaries.
After all, employee benefits have never been more important for the recruitment process, as with so many options to choose from, candidates need more information to weigh up their decision.
As society moves to a more environmentally and socially conscious approach, it’s time for tech businesses to follow.
Get in touch with the Remit Resources team to discuss all of your tech recruitment needs.