In a recent Modis survey of tech worker perceptions, 84.8% of respondents agreed or agreed strongly that demand for IT workers will increase within the next five years. Meanwhile, 72.2% agreed with the statement that the U.S. would continue to be a global leader in the technology space.
Despite this optimism, tech recruiters need to overcome a few key challenges. According to the U.S. Department of Labor, there are expected to be 1.4 open computer specialist jobs in 2020. But the same forecast points to a tough trend: U.S. universities aren’t producing enough qualified graduates to fill these roles. According to some projections, only 30% of open roles in 2020 will be filled.
Looking to counteract this trend? You’ll need to build a rock-solid recruiting strategy and rely on some creative techniques to find the right hires. You’ll likely need to venture out of your comfort zone to recruit from markets outside your geography.
Make sure that you approach candidates with your most competitive offer: it’s not easy to pick up and move to another part of the country or world. Keep the following tips in mind to offer your best relocation package yet:
Appeal to Candidates’ Needs on An Individual Level
Modis recently asked tech workers about the regions to which they would not be able to relocate—even with a substantial salary increase. The findings?
You might be surprised to learn that responses were scattered. Just take a look at the chart below: responses are evenly distributed across geographies.
Relocation is, at the end of the day, a matter of preference. An ‘awesome’ offer isn’t enough, and money alone won’t bring over top performers.
The advice here is simple: get to know your candidates on an individual-level, and figure out what they care about in their jobs. Focus on topics like career advancement, work/life balance, and learning opportunities. With this holistic recruiting process, you’ll have a value proposition that is much stronger than money—jobs are everywhere, but life only happens once.
Offer Your Best Possible Compensation Package
When it comes to relocation, money isn’t everything—but you do need to make sure that candidates’ needs are fully met.
According to research from Modis, 61.4% of tech workers are willing to relocate within the U.S. for a position with a higher salary.
But $10K or $15K may not be enough to cut it: candidates are looking to make large jumps and will only consider relocating for a salary bump of 35%.
Make sure that your relocation packages are worth your candidates’ time and effort. In addition to offering your best possible salaries, make sure that your benefits packages go above and beyond, too.
Cover All Logistics
Most relocation packages come with moving services and housing assistance. But if you can offer more, do it! A thoughtful and comprehensive relocation package will benefit your company in the long run.
Moves can be stressful, and the last thing you want is a candidate who feels slighted by their relocation package—unanticipated costs and stressful moving situations can wreak havoc on your new employee’s morale.
When it comes to moving your employee cross-country, penny-pinching should be the polar opposite of your strategy. Be frugal, but make sure that your employees’ expenses are fully covered.
One approach is to create a miscellaneous budget. Give new hires the option to submit miscellaneous moving expenses, up to a reasonable amount. This flexibility will help ensure that all costs are covered and that company-sponsored relocations go smoothly. You can also consider offering mortgage or rental benefits, in addition to job-seeker counseling for your new employee’s spouse.
Offer High Benefits to Help Candidates Succeed
Help your new employees succeed in life and in business—that’s the bottom line. Job-related moves are never easy decisions: in addition to covering basic expenses, make sure that your candidates have everything that they need for a successful transition.
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