In order to develop as a tech company in 2022, leaders must learn how to retain talent. Currently, the UK’s tech sector is a powerhouse within the industry and that is largely due to the impressive talent available. Sought after individuals in the industry have the freedom to pick and choose between several companies, all of which will be offering them incentives to join. However, many businesses fail to attract and retain these individuals because hiring managers and HR departments are often inexperienced at navigating the pool of candidates. In such a competitive market, companies must have a defined hiring strategy in order to grow. So, when it comes to retaining talent in the tech industry, what can companies do to stand out?
Key Ways to Retain Talent as a Tech Company
Create a Good Company Culture - To retain talent, you need to create a company culture that employees feel comfortable being a part of; it should be somewhere they can learn, grow and develop workwise. By providing opportunities for them to evolve and develop in the industry, you are more likely to engage employees who want to build a career. This doesn’t necessarily have to mean offering a higher salary or lots of expensive benefits, it could be something as simple as allowing employees to buy and sell holiday days, or offering them training resources.
Build Your Business Brand - As an employee, people want to be associated with an impressive business, and that’s all down to branding. Employees are more likely going to remain at a company that others view as being successful, positive and a good place to work. This can be built via word of mouth and digital marketing, as well as online employee reviews. All of these things help to create a business brand that talent wants to be a part of. Individuals in the tech industry want to be proud of the company they work for, which you can boost by supporting their charities and helping with fundraising. You need to stand out as a business that cares about the things that matter to its employees.
Offer Benefits That Make You Stand Out - It’s not always easy to compete with the major tech companies, especially if you are only a startup on a limited budget, but that doesn’t mean that all benefits are out of reach. Speak to employees and ask them what sort of benefits they would like, find out what would help to improve their wellbeing and happiness at work.
Provide Remote Working Opportunities - A lot of tech workers are looking for flexibility in the form of remote working and hybrid working opportunities, and some would even prefer this over a pay rise. By offering remote working, you are showing talent that you care about their wellbeing and work life balance. It’s also beneficial to the business, as remote working can have a positive impact on workplace productivity and reduced levels of stress. Thanks to technology, connecting as a remote team is easy and convenient, and it’s something that rarely hinders tasks.
Promote Internal Talent - Replacing a member of staff can be time consuming and costly, especially if there is a halt to proceedings during the changeover period. This is why promoting internal candidates is often beneficial. As well as helping you to find a hardworking individual who is right for the role, it shows employees that you value their input and work ethic. It’s great for company morale, as others see that an internal promotion could be in their future too.
Create a Successful Hiring Process - With a successful hiring process, businesses can speed up and streamline the recruitment process. This is something that a lot of internet recruitment leaders struggle with, as they are lacking the time and ability to find the best talent out there. For example, there are a whole host of passive candidates that are often overlooked, and these could well be exactly what you are looking for. This is why a lot of tech companies hand their hiring process over to a recruitment agency. It’s then the agency's job to sort through CVs, narrow down the candidates, check references and conduct the first interviews.
Though a tech company doesn’t need to have a large budget to attract the industry’s top talent, creating a good company culture and engaged workforce is key. When you team up with the right recruitment agency, finding the right candidate becomes a lot easier.