In a recent survey of Dice members, more than half of tech professionals indicated they are likely to change employers in the next year – and why not? Changing jobs often results in pay increases, opportunities to master new skills and responsibilities that can lead to a promotion.
Whether those tech professionals are currently working for you or you will want to recruit them, the results of our survey also revealed what benefits you may want to lead with to attract and retain tech talent.
Appealing to the Needs, Wants and Goals of Tech Professionals
Here are four of ways to align your company’s employee value proposition (EVP) with the current needs, wants and goals of tech professionals:
- Encourage and Support Professional Development
- Move to Frequent, Merit-Based Promotions
- Promote Monetary and Non-Monetary Compensation
- Provide Proof
Encourage and Support Professional Development
Creating and communicating a formal professional development program that includes individual planning sessions, learning and development tools and software, project rotation, mentoring and reimbursement for tuition and certification fees can show current and future tech employees that you are willing to help them reach their full potential.
While 72% of tech professionals told us they place importance on “training and education,” only 46% reported that they receive this as a benefit from their current employer representing a 26% gap for this benefit. There’s also an 18% gap in college tuition reimbursement – another opportunity to differentiate your EVP and attract tech professionals with their desire for professional development.
Move to Frequent, Merit-Based Promotions
Establishing more job levels and a promotion policy that favors performance and potential over seniority, can lead to more frequent and varied promotions or step progressions, so tech workers have the chance to develop new competencies and progress in their careers without changing jobs.
With nearly half (49%) of tech professionals saying they think they are “underpaid relative to other people with [my] same occupation and skill level,” a program or policy that supports more frequent, merit-based promotions, if listed as part of your EVP, could attract tech professionals feeling stuck and underpaid.
Promote Monetary and Non-Monetary Compensation
Speaking of, salary is top of mind for tech professionals (which is why it’s important to review actual salary data and competitors’ job postings to ensure that your salary ranges reflect the market), but our survey revealed several ways to focus on non-material benefits that are also important to tech pros and recruits.
Thirty-three percent of tech pros said they would consider leaving “to have the option to work remotely either full-time or part-time” according to our survey. And 27% would consider leaving “to have more flexibility over their schedule.”
Consider your entire compensation package and look for opportunities to sweeten the deal with benefits like remote and flexible work if you’re not able to offer higher salaries. Keep in mind though if your salary ranges consistently fall below the industry average for positions with similar titles, your salary levels or compensation bands may be the culprit. Using competitive intelligence to realign your job levels can turn your compensation structure from a source of frustration and turnover into a magnet for attracting and retaining top talent.
Provide Proof
For your EVP to be effective, the benefits, opportunities and compensation that differentiate your company must be validated and communicated in every message and touchpoint across the employee journey.
Sharing success stories of the people who have built a career at your company and become managers and people leaders is a great way to provide that proof to candidates. This can be accomplished through testimonial videos, articles and blog posts.
