It is no longer just tech companies competing for the right candidates as many industries have moved towards digitization.
The battle for technology talent is getting faster and fiercer, with software and technology becoming a key driver for business throughout the economy. It is no longer just tech companies competing for the right candidates as many industries have moved towards digitization.
Based on Bain’s analysis of Glassdoor ratings of tech companies, three factors are emerging as strong influences on where the most talented candidates want to work:
1. Commitment to diversity
A strong diversity, equity, and inclusion (DEI) strategy can help companies attract talent because it has become a key factor in decision making. In a Beqom survey of 1,000 employed adults last year, 48% said they would consider switching to another company if it had a built-out DEI strategy. Also, more companies are recognizing that they can find excellent software engineering candidates by scouting recruits with coding boot camp certificates and highly rated coding work samples on GitHub, regardless of whether the candidate has a computer science degree from a prestigious university.
2. Transparent and accountable management
At high-performing tech companies, managers are usually visible and willing to engage directly with employees. They also act with speed and decisiveness and hold themselves accountable for real outcomes. The best talent, of course, will prefer a firm where they feel their work has a real impact. If employees feel leadership is intransigent and unaccountable, they are more likely to leave to build a competing company.
3. Culture of coaching and development
The path to creating a winning culture can sometimes seem unclear, but one way is high-quality coaching and development of employees. Millennial and Gen Z workers tend to value this kind of investment as well, it is also critical to growing talented employees who have the right capabilities, but not necessarily the experience.
For example, HubSpot moved from annual performance reviews to social performance management. It allows employees to receive continuous and instantaneous feedback from anyone in the organization, encouraging ongoing skill development.