How Organizations Can Engage Tech Talent in Today’s Labor MarketHow Organizations Can Engage Tech Talent in Today’s Labor Market
In today's job market, talented tech candidates hold the cards, meaning that tech companies must improve their candidate experience to hire great employees.
October 25, 2022
Employee confidence is at an all-time high in today's candidate-driven market, leaving many people to seek better job opportunities.
Employ Inc.'s 2022 Job Seeker Nation Report reveals that 71% of workers in the tech industry are open to taking other jobs. Many tech companies see this as a significant opportunity to hire. Yet, with limited top talent available, this still presents a challenge for organizations.
The Solution: Putting Candidates First
The answer to overcoming today’s tight labor market is simple: Prioritize the candidate experience. Whether positive or negative, the candidate experience encapsulates all the feelings, impressions, interactions and activities a job seeker encounters and considers during the hiring process. Since nearly half of workers would not apply to a company again if they had a bad candidate experience, putting candidates' needs first has become increasingly important. How a company engages with applicants can reflect how the organization treats its employees, making it a defining factor for many candidates.
Here are four key strategies tech organizations should implement to improve candidate interactions that will leave top talent eager to seek a role within the company.
Create a Quick Application Process
Long, drawn-out hiring processes are a thing of the past. Creating a quick and easy application is the first step in winning over job seekers. With an application length of five minutes or less, recruiters can potentially boost conversion rates by 365%.
Once an application is submitted, job seekers want to receive prompt and frequent communication from the organization about next steps in the candidate journey. Consistent and reliable communication is imperative to showcase that a company values the applicant’s time. In fact, 40% of workers in the tech industry say the most frustrating part about the job search is unresponsive hiring managers.
Working with urgency also gives tech companies a leg up on the competition, since workers may accept the job offer while still interviewing at other organizations. Top Echelon Network reports that 40% of candidates reject offers because another company made an offer faster.
Provide Realistic Expectations
Whether a company is a small, bustling startup or a large tech conglomerate, not all candidates are suited for the same work environment. For recruiters, this makes it vital to provide accurate and realistic expectations for the role in job postings and interviews to find the right match.
Inaccurate job descriptions can showcase that a company is disorganized or doesn’t value clear communication. And, perpetuating a false image of the role, workplace or culture can be detrimental to a business. Per a recent Employ Inc. report, over half of tech employees would leave a new job if the company culture did not align with their expectations or values.
Offer Unique Perks
Offering and communicating highly sought-after perks and benefits to employees, such as flexible working schedules, unlimited PTO, pet-friendly offices, or casual dress codes, can help employers stand out among the competition.
A desire for higher pay is another driving factor for workers changing jobs. Compensation is the top reason why 43% of tech workers accept or reject a job, and 53% of workers today believe they could make more money right now simply by switching jobs. Companies need to ensure they’re offering competitive salaries or accommodate lower pay with other attractive benefits listed above.
Seamless and Effective Onboarding
While creating a welcoming environment during the hiring process is imperative, it can’t end there, or companies will struggle to retain top talent. Employers must consider the first 90 days as an extension of the candidate experience, or risk them leaving. Currently, over 30% of new hires will leave a job in the first 90 days, with the top reasons being related to poor onboarding and communication.
Retaining employees is another top concern, with 42% of tech workers citing high organizational turnover over the past year. Furthermore, 45% of respondents reported higher workloads due to this turnover. With many workers having “one foot in, one foot out,” organizations should focus on development, encouraging genuine interactions, and engagement long after a candidate has been hired and onboarded.
With one of the tightest labor markets on record, recruiters must prioritize a positive candidate experience to create a successful long-term talent pipeline. By nurturing relationships through easy applications, transparent interviews, and seamless onboarding, tech companies can continue to show candidates that they are valued and appreciated.
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