Hit your hiring goals for 2022 (with just 4 months left) 🎯
While many say the end of the tech boom is upon us with a flurry of jobs cuts and hiring freezes from the big tech companies globally – that all too recently were engaged in hiring frenzies and into the second bottle of the “growth at all costs” coolade, there is still fact-based evidence to suggest there is no need to panic just yet, especially in the SME tech start-up/scale-up arena. Job postings for software developers in the US alone are up 120% year on year above the pre-pandemic baseline and job seekers in development, operations and cyber security are still, particularly in high demand in the Netherlands.
In the Netherlands, the number of job vacancies continues to climb breaking records quarter on quarter and according to Statistics Netherlands (CBS), the trend continues for now and into the foreseeable future. In tech specifically, it is still very much a candidate market with a terribly limited local talent pool. Top tech talent are receiving multiple offers and are in the position to pick and choose what companies, packages and working conditions suit them best and are often not on the market for more than 3 weeks before being snapped up by a competitor.
Realistically, it is too early to tell what awaits the future of the tech sector, however, what is becoming clear is that the tech mantra of “growth at all costs” is starting to be replaced with a maturing, balanced approach of “realistic and sustainable growth” getting us to our long-term goals.
With Q4 fast approaching and talent returning from their summer holiday, it’s safe to say many people used this time to relax and reflect on life, their priorities, job satisfaction and career aspirations. Q4 in the Netherlands is also always a big hiring quarter as allocated budgets need to be spent and resourcing targets need to be met before the year is over.
What does this mean for employers wanting to hit their Q4 hiring goals? 💭
Employers have to be clear on their candidate value proposition, enticing in their compensation and benefits package, and be transparent about their culture and recruitment process. When it comes to culture, employer branding and employee experience, with an average job done within these areas are just not going to cut it and you will lose top talent to other companies (boohooo!).
To ensure your competitive edge in the market place and to stand out as an employer of choice, here are Top 7 tips to smash your hiring goals for Q4:
1) Hiring diverse international talent makes you more attractive as an employer. According to Equalture, 76% of candidates consider diversity when making a final decision about accepting a job offer and diverse companies attract 73.2% more diverse talent.
2) Along with a competitive offer, signing bonuses to sweeten the deal and lock in top talent is becoming common practice in the Tech sector. So, if you know you have a weakness in your onboarding or employer branding, offering a signing bonus could go a long way to keeping you in the running as an employer of choice.
3) Having a reputable employer brand is a must for an organizational strategy as it helps recruit better candidates, deducing hiring and marketing costs and improves productivity. According to TalentNow 84% of candidates on the market consider company reputation and employer reviews before applying for a job.
4) Having a true people centric culture means viewing your people as assets and strategic driver of a company’s success. A considered and structured onboarding process that maps out what the new employee will encounter in the first 90 days is a key factor in building rapport and buy-in with new employees. Did you know that according to Staffbase, 31% of candidates leave within the first 6 months. Even more interestingly 16.94% leave in the 2nd month, 17.6% leave in the 1st month and 16.62% leave in the first week.
5) Streamline your recruitment process. Any recruitment process that is longer than 3 interviews – including the final decisionmaker response, and takes longer than 3 weeks from 1st interview, you will run the risk of losing top talent. So, align your hiring managers to be clear on the timelines and hiring process to follow. It is HR’s job to educate and support hiring managers on the importance and impact of a lean recruitment process.
6) Create compelling candidate-focused job specs that give the candidate a clear idea of what to expect in the next coming months, what the culture is like, how long the hiring process is and what the compensation and benefits packages looks like. Be enticing, show the brand’s personality and give the candidate as much info upfront as possible.
7) Hybrid working model attracts more talent as many tech candidates prefer working from home and find flexibility is key. This trend in the future world of work is only going to become a more common practice. Additionally offering a home office budget to sweeten the deal can definitely give your offer the edge.
A combination of these top 7 tips will definitely get you smashing your hiring goals, but we also understand as busy scale ups it’s often impossible to practice these tips all at once and it takes time to get your talent practice operating like a well-oiled machine.
We are always ready and available to jump on a call to share our knowledge or have a brainstorm lunch session, to help you get the key critical pillars of your talent practice in place.
Happy hiring and may the odds always be in your favour. 🙌