The lack of skilled workers is no joke. In many industries, especially technology, companies need to focus on closing candidates quickly to ensure they’re securing talent to grow the business. Without qualified people, your company will suffer.
In fact, the shortage of skilled technology workers has become the number one issue facing many companies in the growing tech sector of Boston. It’s not only affecting the businesses and their growth, it’s also affecting the entire region’s innovative economy.
Boston isn’t the only community suffering from a lack of talent. The Denver area is also seeing the effects of a skilled talent shortage. Colorado is home to many advanced industries and has thousands of career opportunities that require specific skill sets in areas such as science, technology, engineering, and math (STEM) skills.
According to the Denver Post, by 2020, nearly 55% of the state’s top jobs will require these skills. That’s more than half of all skilled positions. Plus, many of these occupations pay a more than a livable wage and more than half of the positions don’t require a four-year degree. So how can you combat these problems?
Startups Need an Effective Recruitment Strategy
Tech executives claim that the current hiring environment is worse than the dot-com boom in the late 1990s. Without skilled team members, these companies face limited growth opportunities and resources for technology development. It’s basically coming down to a supply and demand issue. There are too many jobs for the available, skilled workforce.
As a way to combat the talent war and attract the best people, companies need to assess their current environment. Leaders should take a hard look at their company culture, benefit offering and pay scale to ensure that it’s positioned to catch the attention of the highly sought after prospective employees.
Also, tap into your current team. Employee referrals are one of the best ways to find qualified employees that not only match the job description but also perform at a high level and show more loyalty.
To give you an understanding of our current hiring environment, a software developer who just graduated can easily command a starting salary of up to $90,000. They expect a hefty paycheck on top of a great working environment that keeps them highly engaged.
Check out a few of our tips for keeping the workplace happy and productive in our previous post.
Closing Candidates Quickly Secures Talent
Once you hook a candidate through an effective recruiting strategy, you need to close the deal like you would close a sale. Closing candidates quickly keep their interest in the position high and also gets them actively engaging in their role sooner. As a result, your business is benefiting from their talent faster and hopefully, earning more profit.
When hiring talent, especially in the tech world, you’re going to face higher competition. In Denver area alone, there are more than 1,500 startups. All of these companies are looking for similar highly skilled team members. The talent war is a very real struggle for many businesses.
Keeping the Talent
When closing candidates quickly, you need to also focus on keeping them onboard. It’s always important to ensure that you have an awesome company culture that allows team members to thrive. That means having more than lunchtime happy hours and arcade games.
Offer real benefits that entice employees to stick around. Benefits include:
- Ample paid time off
- Monetary bonuses
- Give back events
It’s important to know that once a team members is in their job, they can receive as many as 20 recruiting calls or emails a day. This is especially prominent in the competitive tech industry. These calls are trying to entice them to leave their current position for a new job. Many of these calls have a significant, sometimes up to 25%, salary hike included in the offer.
If you need help recruiting talent to boost productivity and drive business success, contact our team. We can help you find qualified team members that align with your organizational goals and help you reach that next round of funding.