As a tech company, it’s very easy to get caught up in the tech. It’s what you do, it’s what your people are passionate about, and it’s how your business is going to grow. Plus, it’s often what sets you apart from the crowd; your tech product is what excites you and motivates you, and […]
Late last year, Better.com hit the headlines after laying off 900 employees on a Zoom call with no real warning or preparation. The CEO defended his actions by saying that these employees were not performing well, working an average of 2 hours a day but claiming they’d worked 8. After this, he warned other employees […]
Scaling tech businesses, in particular, have seen a huge rise in demand over the last few years as our reliance on technology grew significantly. Take the likes of Zoom, for example, its sales were up 370% in 2020 compared to the previous year, and it expects sales to rise by more than 40% in 2021. In the […]
The role of benefits at work has changed significantly. What was once an additional perk to help entice candidates has quickly become necessary to enhance their experience and lifestyle. Fully stocked beer fridges and ping-pong tables have had their day. Once upon a time, the more quirky or fun a benefit was, the more a business stood out in the eyes of candidates. But, the last two years have proven that benefits should be just that, a benefit, not something fun and out there to add to your employer brand communications. Benefits shouldn’t be there to capture attention but rather to enhance the lives of employees significantly.
It’s no surprise that, for many, keeping hold of their employees and focusing on employee retention is becoming a number one priority. However, in 2022, as the race for tech talent tightens and there are consequently more opportunities, attrition will be just as big of an issue as the skills gap. As a result, there will be more temptation for employees to leave, and if your company hasn’t addressed any problems, that could be motivation to push them out of the door. Employee retention will become almost as important to your people strategy as attracting candidates because businesses will need to hold onto their people if they ever wish to grow. Otherwise, you’re stuck in a continuous recruitment cycle.
If you’re in the middle of a hiring surge, you cannot forget your existing team although it’s easy to get caught up in the hiring process. Dedicating all of your time and efforts to finding new talent, may leave your existing people feeling superfluous and neglected; they won’t seem like your priority. Your team may begin to feel overlooked if your entire people strategy involves recruitment and not considering their wants and needs.
money to replace a talented person. From advertising a job to the onboarding process, there is a huge process involved in finding and training the right person, it can take months which can cause issues for a scaling business. Attrition and turnover can cause many issues for businesses looking to grow. Firstly, it can put scaling on hold while you find someone to take over another role; you can’t prioritise new hires in the business if critical roles remain open. Secondly, it can also damage your employer brand reputation and hinder recruitment strategies; candidates will soon get wind that employees aren’t happy and that you have a high turnover rate. Therefore to avoid high attrition rates and going into 2022, employers need to refine their people strategy to ensure that they’re putting people first.
Notice periods have long been an issue for recruiters and employers. In a scaling business, you often need to hire talent quickly to meet a sudden increase in demand or to help you reach the next level of growth. Of course, having to wait for your perfect candidate to start is never ideal, but many of us are willing to do so for the right person, even if it pauses growth plans slightly. After all, you want to hire them for a reason, and they could be the perfect fit for your scaling business with all of the right skills and attitudes you need.
However, at Talent Works, a trend our recruitment experts are seeing more and more of is extended notice periods even for junior candidates. For roles like UX designer, where the only requirement is a Bachelor’s degree, many of our recruiters are seeing three months’ notice periods instead of the usual, and often expected, one month. Which, if you’re a scaling business looking to hire quickly, could pose a problem. Especially if you’re expecting candidates to have a month-long notice period.
On first September we hosted a Leaders Talk Talent Roundtable with Talent Acquisition professionals from Moderna, FinancialForce, LexisNexis Risk Solutions Group and MassTLC. We discussed the impact of the pandemic and what it’s brought for talent acquisition including how these employers had to adapt their talent strategy. We also shared some tips for post pandemic […]
Survey of professionals finds that over a fifth are looking to pursue their career elsewhere in 2022 38% of organisations don’t have a working from home policy in place, and being asked to be in the office negatively impacts one in five employees Manchester, UK, 1st September 2021: 38% of respondents have been approached over […]
When you’re a startup, the candidate-driven market creates more talent acquisition and retention challenges than most businesses. With so many companies competing for the same technical talent, it’s increasingly difficult for growing businesses to match salary offers and the reputation of large-scale enterprises. As a result, tech candidates are in high demand are probably being contacted by recruiters every day. These tech candidates are tempted by these “sexy” offerings with high salaries or impressive names to add to their resumes. With so little available talent, your existing teams are more likely to be enticed by these offers. Can you really afford to lose your best developers, data scientists and tech talent?
In a scaling business, your teams make or break you. It would help if you were surrounded by dedicated people who are passionate about your mission. However, in a tech business, you also need key skills and knowledge to innovate and grow your offering. Therefore, any loss of staff is felt more deeply than in a large-scale enterprise, and therefore attrition is more of a threat to smaller businesses.
