It’s no secret that hiring in tech in the current environment can be volatile. Between mass layoffs, ongoing talent shortages and a looming recession, organizations hiring in tech are facing more challenges than ever. But if a company knows what skills it needs, it could be an excellent time to hire. Research from Magnit shows growth for core tech skills is projected to be 30.7% in the next ten years—and investing in the right talent, while wages are stabilized and not accelerating, can enhance long-term sustainability.
Organizations that want to take advantage of tech hiring opportunities right now need to act swiftly, decisively and strategically because impacted tech workers are being rehired within four to six weeks at most.
Here are four key ways to make sure your hiring efforts in tech are successful.
1. Understand What Job Skills and Requirements You Need
Knowing the skills, requirements and experience of your open positions is critical in attracting tech talent. Savvy companies that take the time to understand these aspects will be more strategic in how they approach their search for talent – especially because sometimes who they’re looking for might already be in-house, given some additional training.
For example, if a company is looking for a cyber security analyst, hiring externally would mean they’d have to pay the premium wage for that role. However, if they already have a network or systems engineer that has most of the skills required, after taking a certification class he or she could be a great candidate to fill the role. Not only would the organization save on cost, but the worker will also be more loyal, more engaged and have upward mobility. This is just one scenario that demonstrates the importance of understanding the critical skills for roles. (Learn about the benefits of skills-based hiring in our solution brief.)
2. Realign Your Job Taxonomy
Convoluted job taxonomies can create roadblocks in hiring for various reasons. Through the pandemic, for example, many workers have taken on additional tasks that weren’t originally part of their roles. Once these workers leave and an organization is looking to replace them, establishing those job titles and descriptions can be unclear, inaccurate and most importantly, won’t match what candidates are searching for.
Trying to hire talent using the wrong job titles and bloated job descriptions will reduce the number of qualified candidates applying to those opportunities and increase time to fill. Cleaning up and optimizing those job taxonomies can help improve workforce planning, expand talent pools, optimize pay rates and more.
3. Determine How Remote The Position Will Be
Companies need to carefully consider whether the tech position they’re looking to fill will be remote, hybrid or on-site. For example, a highly in-demand position such as an application developer frequently has remote work listed as an option, so a company looking to fill that position would benefit from providing that work model. Non-remote positions, on the other hand, consistently stay open longer, which indicates they aren’t getting filled. In fact, on average, it is taking 36% longer to fill onsite technical positions.
Unless the job duties are tied into the position being on-site, companies should consider offering remote or hybrid options. Despite national talent shortages for most sought-after technical skills, in most cases, there are pockets of talent availability in 7-10 secondary locations with wages averaging 4-6% below major markets. This strategy will enable employers to hire faster and keep up with competitors. (Learn about the benefits of remote work and how it can be a strategic advantage in the war for talent in our white paper.)
4. Ensure Your Pay And Benefits Are Competitive
Having up-to-date pay intelligence is also key. Especially as organizations are looking to hire tech workers from various locations, they need to understand what that talent availability looks like and how it is getting compensated. Pay transparency is becoming increasingly critical, and ensuring wages for tech positions are competitive will help companies attract the talent they’re looking for. Those that don’t offer competitive wages, however, will be restricted to less skilled or experienced candidates. (Find out how your organization can effectively address pay equity and transparency challenges.)
Ultimately, getting aligned on the skills and requirements you need will help get the tech candidates you’re looking for. Expectations on the role will be clear for both the organization and candidate, and miscommunication will be minimized. This will help ensure your organization is providing competitive wages, increase speed to hire, lower turnover and more.
