Only a few months ago, companies were dedicating mass resources and budgets to attract top talent. Tactics ranged from large outdoor campaigns usually reserved for fashion brands and automotive companies to producing cinematic-quality recruitment videos in a continuing “one-upmanship” effort to lure the best technology talent. In a few short weeks, the economic tides turned. Now, companies are laying off employees, dialling back hiring, and cutting costs in an effort to navigate the new economic reality.
You might think the pendulum has swung back towards employers as more workers pour into the talent pool, making it easier for companies to secure elite technology employees. However, there are still jobs out there, and top tech talent is always in demand. Further, there is a tendency for employees to stay at their current job when uncertainty increases, making dislodging employed candidates that much more difficult.
So, if you’re actively hiring, what is the best way to secure top tech talent? Despite the downturn, now is actually an opportune time to actively recruit. Below are a few suggestions to navigate the current market.
Use the market to your advantage
While the prospect of leaving a company might be daunting, some may find staying even scarier. Developers and others in key technology roles may not be as comfortable in their current situation as they were only a few months ago. As mentioned, many companies are scaling back hiring, laying off employees, or even shutting their doors. Look for employees in companies that might be in these situations and recruit developers and other needed roles, offering them a strong compensation package along with stability, a challenging role, and excellent working conditions. As an example, we recently hired a full-stack developer by contacting them shortly after their previous company announced its closure.
Stability may not be an issue, but a changing culture might be. Some companies are using the new climate to revert back to pre-COVID working conditions and cultures. Many are cancelling work-from-home and flexible scheduling options while dialling back the fun perks in the name of cost-cutting. This is your chance to shine as a progressive employer highlighting your company’s dedication to providing optimal working conditions, based on what the employee needs regardless of the current economic climate. Prospective employees will appreciate and gravitate to a company that stays true to its ideals even when the market conditions favour the employer. As a bonus, your current staff will appreciate your genuine dedication to them and their work life, reducing turnover.
Now that you’ve committed to maintaining that amazing culture, tell the world about it.
Build your brand
People need to feel your culture
Tell the market what you bring to the table as an employer. Of course, highlight fun days, team outings, and the all-you-can-eat rooftop donut bar. But also showcase how your company empowers the careers and lives of its employees. Perks are nice, but a company that genuinely looks after the well-being and career of its staff is what people seek.
Where should you spread your message? Be in the obvious places – events, job boards, social media, etc. Think about applying for employer awards and other ways of showcasing how fantastic your company is. Whatever the medium, strive for a consistent message.
People talk, so be honest
Whatever you put out there about your culture, make sure it’s true. When your people are happy, empowered, and thriving in a sane and stable environment, word gets around. If you claim one thing, and the opposite is true, this also gets around.
To conclude, now is a great time to find those top-tier technology hires. Some might be in more turbulent companies, some might be in companies with shifting cultures, and some just might be up for a change/new challenge. Either way now's your chance to shine. Look for those that best match your offering, and be sure you’re consistently delivering on your promise.
Written by Stav Raz Arad, HR Director at Sayata