For the second year in a row, research by executive search firm Harris Allied found that acquiring top technology talent is management’s biggest concern for 2014. The survey was conducted in November 2013 with 123 executives from New York companies in financial services, professional services, consumer goods, digital media, and technology.
More than one out of three respondents (36.6%) identify the most important strategy to retain key technology employees as offering competitive compensation and more than two out of five (42.3%) believe that competitive compensation is the most important strategy to attract key technology employees. In fact, nearly one out of two (44.7%) said that candidates are most likely to reject a job offer because they’re offered better compensation elsewhere.
Corporate culture was also identified as an important strategy by executives for retaining (26%) and attracting (13%) top technology talent. More than one out of three executives (34.1%) believe that the chance to work on new technology elsewhere is one of the most common reasons people have left their companies in 2013. A corporate culture that attracts and retains top talent was described by executives as one that:
- Is creative and inspires fun = 67.3%
- Gives people the chance to work on interesting projects = 64.5%
- Offers flexible work hours or opportunities to telecommute = 52.3%
- Offers outstanding professional development opportunities = 42.9%
Clearly, attracting and retaining top technology talent is challenging for companies. What has your company done to hire and keep the best technology talent? Leave a comment below and share your thoughts.
Susan Gunelius
Susan Gunelius is the Founder and Editor-in-Chief of Women on Business. She is a 30-year veteran of the marketing field and has authored a dozen books about marketing, branding, and social media, including the highly popular Ultimate Guide to Email Marketing, 30-Minute Social Media Marketing, Content Marketing for Dummies, Blogging All-in-One for Dummies and Kick-ass Copywriting in 10 Easy Steps. Susan’s marketing-related content can be found on Entrepreneur.com, Forbes.com, MSNBC.com, BusinessWeek.com, and more. Susan is President & CEO of KeySplash Creative, Inc., a marketing communications company. She has worked in corporate marketing roles and through client relationships with AT&T, HSBC, Citibank, Intuit, The New York Times, Cox Communications, and many more large and small companies around the world. Susan also speaks about marketing, branding and social media at events around the world and is frequently interviewed by television, online, radio, and print media organizations about these topics. She holds an MBA in Management and Strategy and a Bachelor of Science degree in Marketing and is a Certified Professional Career Coach (CPCC).
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