The unemployment rate for technology professionals in the United States is 1.7%, the lowest unemployment rate within the past decade. As the availability of active job seekers continues to decrease, employers must develop new, creative ways to attract and retain talent. What do employees want? Here are three creative benefits to offer employees that could help your business locate the talent you need:
Creative benefits regarding work flexibility remain a top priority for job seekers and employees. A 2017 survey conducted by FlexJobs showed that 81% of respondents would prefer the option to telecommute full-time, while 70% prefer a flexible schedule. A recent survey by tech job board Dice.com showed 63% of tech talent would be willing to take a pay cut in order to work remotely full-time. Furthermore, remote working is on the rise, with close to 3% of the total US workforce working from home at least 50% of the time, a 115% increase in remote workers since 2005.
If your company has employees who are not needed to be physically in the office every day of the week, or if there is work that can be done outside of traditional business hours, consider implementing flexible schedules where employees can adjust their hours and work remotely on an as-needed or ongoing basis.
Continuous Learning Opportunities
The need for tech talent is not exclusive to the tech industry; on the contrary, the retail, banking and financial services, and manufacturing industries have seen the largest rise in tech hiring over the last year according to Glassdoor’s “What’s Ahead for Jobs? Five Disruptions to Watch in 2018.”
As tech positions continue to grow in non-tech sectors, and as tech talent has become increasingly harder to find, non-tech employers have expanded continuous learning opportunities aimed at nurturing and developing their tech talent. With increased training, certifications, and educational opportunities, employees can expand their skillset and be more qualified for advancing their career within your company, which saves your business the time and money that would have been spent recruiting and hiring outside hires.
Often when employees continue to develop their skills, they may realize they want to pursue other positions, either by seeking promotions in the same department, or pursuing new roles where they can make a lateral move. Providing employees an opportunity to experiment with other roles within your company is a creative and low-risk way for high-performing employees to pursue new goals without leaving your business.
According to Glassdoor’s report, “by establishing clearer pathways for internal job moves, companies have an opportunity to tap into the changing skills and passions of their workforce, help reduce turnover, and do a better job of matching proven talent with their most productive role inside an organization.”
By considering one or more of these creative benefits to offer employees, you will be providing opportunities that top talent desire, but cannot always find. Only 22% of tech employers currently offer remote work, and a recent study by Middlesex University showed that 74% of employees have indicated their workplace has a lack of development or growth opportunities. These statistics can be a key factor in setting your business apart from other companies and provide access to a pool of talent that may not have previously been available.