The UK is a critical hub for global tech, with strong economic performance only increasing the demand for tech talent.
Growth significantly impacts the trajectory of salary, as seen in areas of the UK such as Manchester – the fastest-growing tech city in Europe – with investment growing 277% from 2020 (£48m to £181m), which has resulted in an increased £2.5k in the median wage.
For businesses, tech salaries rising presents a problem.
With such high competition and demand, even in the event that a business can offer a candidate a competitive salary…. Will it be enough?
Fortunately, there are a number of benefits outside of salary that tech candidates can value.
Let’s take a look at a few.
The assumption might be that all tech candidates value remote working above all other models of working.
After all, there has been a rise in remote working in tech roles such as software engineering, with Hired finding 51% of new candidates open to remote positions.
74% of millennials want a flexible working schedule, and with millennials set to make up the majority of the workforce by 2025, it’s certainly important to keep note of.
Embracing the world of hybrid working could attract tech candidates because it’s more appealing than only offering in-office or remote working models.
With 47% of employers now offering hybrid working, it’s also an important consideration to stay competitive.
This means that flexibility can impact not just recruitment, but retention as well – businesses offering only in-office jobs could find themselves faced with a high employee turnover, which is unlikely to have a positive impact on the hiring process.
Another element of this is flexible working hours, which could appeal to candidates who wish to set their own working hours and schedule within the remit of a production-based model of compensation that clearly defines workload expectations.
Potential tech candidates will value the opportunity to have greater autonomy over their ways of working, particularly if the alternative option is a 9-5 in-office role.
Tech candidates will already have their preferences when it comes to the technologies/equipment that they use, which means they will be knowledgeable and passionate about the options available.
This means that if a company were to offer only the same level of tech that a candidate is using at home, there will be minimal appeal.
The appeal of using more current, up-to-date (not necessarily cutting-edge) technology is threefold:
It gives candidates the opportunity to use technology that they might not be able to afford at home
There’s security in knowing that they are using what is current to the industry, which will also keep their skills current and relevant
It means that the detrimental impact of outdated technology on productivity is avoided
In a business sense, providing employees with the best technology available also points towards your company values – investing in technology shows that you care about the service you provide to clients/customers and your employees.
A fast changing sector like tech requires adaptability and continuous learning from candidates, so why not make that a part of your offering to them?
Many tech professionals already have professional development as a priority, which is why making development opportunities a part of your company can be such an added point of value.
This is also very beneficial for employers, as it means that their company is more agile and innovative than one that relies on and emphasises a single skill/competency.
Consider integrating professional development into an employee’s work schedule for a few hours a week to ensure that opportunities are fully utilised, and any feedback about these resources/courses can be given to tech candidates during the interview process.
By offering professional development opportunities, you are also showing a commitment to your employees’ career advancement.
Good work/life balance
Offering a good work/life balance is good practice for retention and recruitment efforts.
According to Lorien Global, 94% of those currently in permanent employment and 86% of those not currently in a permanent role rate work/balance as important or extremely important.
As the workforce trends shift towards hybrid working, it’s unsurprising that work/life balance is high on the agenda as the boundaries between personal and private life blur.
Flexible working options play strongly into this – employees can be more connected than ever, which is beneficial for work but can also lead to burnout when employees feel unable to ‘switch off’.
Demonstrating to tech candidates that there is a clear respect for their personal time is a strong way to appeal to their desire for greater work/life balance.
This could mean:
- No emails to be sent out of an employee’s working hours unless urgent
- Encouraging employees to utilise annual leave and sick days when needed
- Give support to those who have family obligations (e.g., parental leave)
- Regularly reviewing workloads to ensure they aren’t unreasonable
- Leading by example by ensuring line managers and upper management also take regular breaks and don’t take work home
By providing tech candidates with solid evidence that as an employer, you can respect boundaries, will attract higher numbers of candidates who value work/life balance.
Many tech candidates are attracted to the sector for the opportunity to grow, personally and professionally.
Being challenged in their job is part of this.
New challenges were ranked by tech job seekers as a top reason to leave a role in the next 12 months, which ties in heavily with a sense of meaningfulness for candidates towards their future career.
The important part is to convey to tech candidates that though the job will be challenging, that they will be a part of a collaborative environment and not left to swim in the deep end.
Professional development can be used in conjunction with the challenge of the job to let candidates know that they can evolve and adapt with the job.
Giving tech candidates value is often reliant on how successfully you can convey that you view them as an investment rather than an expense, and that you are committed to helping them grow personally and professionally.
If you can provide some of the additional benefits mentioned above, they may well prove more effective than simple compensation in such a competitive market.
Get in touch today to discuss your recruitment needs with us.