10 Vital Strategies To Hire (& Retain) The Tech Talent Your Business Needs

Posted by Kate Smedley on 6 Apr 2016

The growth in big data and fintech is driving an unprecedented demand for tech talent. Morgan McKinley predict that the number of digital technology businesses will reach 45,000 in London alone and employers are under pressure to hire the people they need before their competitors.

Tech talent is ready to respond. The Developer Survey 2016 from Stack Overflow found that nearly three quarters of developers are either actively looking for a new employer or open to exploring a career move. The biggest obstacle to engaging talent is the failure of some recruiters to understand their community or what tech candidates want from their next job.

Our 10 vital strategies will help you to attract the tech talent your business needs:-

Change your perspective : The developers in the Stack Overflow survey described themselves as partly ‘self-taught’ and 71% considered their qualifications to be ‘non-traditional’. Change your screening filters to broaden your talent pool. The tech market is candidate driven. Traditional hiring methods won’t work.

Get innovative (1) like Uber : Uber developed a ‘Code on the Road’ challenge within its Rider app to attract passive talent. If the unsuspecting user accepts the offer, they are faced with three coding problems. Each one must be solved within 60 seconds and an application form is e-mailed to successful participants. This innovative recruiting tool provides potential new hires with the opportunity to demonstrate their skills in a unique context. Uber’s ‘Codefights’ challenge also gives people the chance to face the ‘Uberbot’, enabling Uber to identify the talent with the relevant skills for their core business.

Get innovative (2) like Google’s Foobar : is Google’s secret weapon for sourcing passive talent. Unwitting Googlers searching a number of designated keywords in the right order are redirected to Google’s clandestine recruitment tool, where they participate in a number of problem solving tasks. The results enable Google to engage directly with candidates who possess key competencies and experience.

Recognise that culture, not cash, is (nearly) everything : You don’t have to be Google or Uber to attract the best tech talent available. Competition is fierce, with fintech companies luring tech candidates away from sectors such as banking and finance. Culture, flexible working and salary are the top three priorities for tech talent – but cash won’t have the final say. Fintech companies are successful because they offer a relaxed culture, a chance to innovate, on the job learning, career development and flexible working options. Compare that with the unrealistic expectations and unspecific requirements of many employers that turn tech professionals off.

Create the right environment : As well as career development and on the job learning opportunities, nearly all (96%) tech professionals thrive in the ‘right’ working environment according to online tech careers site Dice. That’s one that allows them to be creative and offers those sought after flexible working options, whether that’s working from home or from shared office spaces. Less than half (48%) of tech professionals claim to be offered the right type of environment to promote creativity and 52% believe their working space is not ‘fit for purpose’ for a tech company.

Prioritise digital skills training : A new survey from Barclays UK found that the average business spends just £109 per employee per year on digital skills training. Most rely on hiring young talent with the requisite skills in areas such as cyber security and coding. This is not a workable hiring strategy. 70% of developers in the 2016 Survey stated that learning new skills is a priority. Employers must offer continuous learning opportunities to attract tech talent.

Tap into the Gig Economy : The CIPD predicts that the growth in the flexible labour force or Gig Economy will help to offset skills shortages throughout 2016. The rise of the ‘portfolio’ career is becoming more acceptable to younger people and for high earning tech professionals it offers a way to constantly learn new skills and enhance their market value.

Build an effective employee referral programme : The Stack Overflow survey found that the preferred method for finding a new job for tech talent is through an introduction or employee referral. In an ideal world, 40% of your new hires should be sourced via referrals. Prioritise all of your referred candidates by tagging them in your applicant tracking system to expedite their progress.

Expand your sources : Broaden your online recruitment sources beyond standard social media platforms to attract young talent. Recruitment analytics will provide insight into where your best hires come from. If those sources are no longer effective in the tech market look further afield. Both Snapchat and Tinder have proven to be useful recruitment marketing tools. A candidate persona will help you to identify the most appropriate social recruitment platforms for your business.

Review your recruiting systems : The most effective talent acquisition strategies are supported by sophisticated HR technology enabling HR to source, identify and hire talent quickly. Support your recruiting strategy with modern recruitment software used by some of the world’s leading organisations to help you hire tech talent faster.

Talk to Advorto today.

Discover the effect of fintech and other challenges facing banking and finance in our in-depth sector focus.  Download your copy here.

You might also like to read:-

Is HR Brave Enough To Hire Like Google?

Recruiting Tech Talent : A UK Sector Focus For 2016

Topics: industry-article

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