Attracting technology talent has become a growing concern for employers during the past few years.
STEM talent has traditionally been more difficult to come by than most other kinds of talent.
This is in large part due to the underrepresentation of women in the field. Despite the best efforts of both the public and private sectors, the problem persists.
As a result, there’s an ongoing “war” for tech talent. The tactics employed by some companies seem to come straight out of the movies.
- Offering extravagantly high sign-on bonuses.
- Providing perks that include everything from onsite haircuts, to comfy “nap pods” and catered meals.
- Poaching top talent from competitors.
- Setting up online competitions to recruit workers who aren’t actively looking for a job—but who can’t resist pitching their skills against those of their peers.
The list goes on and on.
It’s a candidate’s market in the tech sector.
Even entry-level tech workers can earn upwards of $80,000 a year.
And when a competitor decides to poach them, they usually wind up earning around 5% more…plus a hefty sign-on bonus!
But what does all of this mean for employers?
Attracting and retaining full-time talent is an expensive endeavor, as we’ll explain further.
Employers need effective recruitment strategies to attract tech talent. You need to know where the candidates are; how to get their attention; and how to reel them in.
The research and labor that goes into developing these strategies is expensive. It involves researching what—in addition to salary—is important to these particular workers.
For example: flex work, or training opportunities.
It also involves finding out what the competition is offering and beating those offers.Attracting and retaining full-time technology talent is an expensive endeavor.Click To Tweet
Retention can be pricey for technology talent.
Once you’ve recruited tech employees, retaining them is perhaps even more expensive.
You have to determine what each employee wants in order to keep him or her engaged.
In addition, you’ve got to understand that your best people are likely getting offers of employment from the competition—all the time.
To keep them, you have to make sure they are happy.
If you don’t do the research and provide what your employees want, those employees are likely to jump ship. And when that happens, they take a lot of knowledge with them—knowledge your company relies on for innovation.
If you think all of this sounds like a costly, time consuming endeavor, then you’re right.To keep technology talent, you have to make sure they are happy.Click To Tweet
A cost-effective alternative: temporary tech talent.
Here’s why employing temp technology talent is a more profitable solution than recruiting full-time tech talent:
1. You only hire the workers for the amount of time you need them.
Oftentimes, you’ll need additional tech talent to complete a specific project or meet increased seasonal demand.
Recruiting direct hires to expand your workforce, then laying them off when you no longer need them is a huge financial burden.
Working with a technical staffing agency sidesteps the need for all of this.
2. You don’t have the financial obligations of direct hires.
Of course, you don’t have to pay benefits when you’re using a contingent workforce.
You also don’t have to invest in retention measures such as perks and training.
Moreover, since you’re not the employer (the staffing agency is), you’re not responsible for severance pay and other financial obligations.
3.There are no recruitment costs.
When you work with a staffing agency that specializes in tech talent, your HR department doesn’t incur the costs of job postings, screening, testing, and interviewing.
The agency takes care of all of this for you.
4. The hiring process is much faster.
A staffing agency already has a large pool of proven tech talent.
All of these candidates have been screened and prequalified. The agency is fully informed about their skills and experience.
So you don’t have to invest a lot of time in locating talent and selecting the best candidates, because it’s already been done for you.
You can put the time you save to use on other tasks for your company!
5. Your business gets the best technology talent.
It’s interesting to note that a significant number of highly skilled tech workers choose to be independent workers (or freelancers).
This style of work gives them a good work-life balance.
It also allows them to pick and choose what projects they want to work on.
As a result, you can have access to the best people in the business without having to employ them directly.
And that means you can add to your company’s intellectual capital and innovative capabilities using temporary talent.A high number of highly skilled tech workers choose to be independent contractors.Click To Tweet
6.You lower your risk.
Since the staffing agency is the temp talent’s employer, it’s also responsible for ensuring risk and compliance.
Matters such as the authorship and ownership of developed products are specified in a contract before the assignment starts.
Other issues the agency will address include how, when, and to what extent temp workers will have access to your company’s computer system.
7. There’s less administrative work.
Since the staffing agency is the temp worker’s employer, it’s also responsible for all of the administrative work, including payroll and time sheets.
This unburdens your HR department considerably!
8. The staffing company offers a guarantee.
Sometimes a temp worker doesn’t fit or lacks the skills you seek.
In cases like these, the staffing company usually offers a guarantee and replaces the worker at no additional cost to your company.
Using temp technology talent is a great way to expand your workforce with knowledgeable workers for a short period of time. Just make sure you work with a staffing agency that has experience in the technology field and comes with great recommendations!