Employer Value Proposition Crucial for Attracting and Retaining Tech Talent, Says Hackajob Report

Key Takeaways:

  • A new report from hackajob reveals that over three quarters (77%) of UK tech talent are unhappy in their current jobs and actively seeking out new roles.
  • The report shows a concerning gap between what UK employers offer as perks to attract and retain talent, and what talent actually want.
  • Hackajob CEO Mark Chaffey urges companies to focus on their Employer Value Proposition and to offer benefits packages that empower talent to have free time to do what they choose.

The great tech unrest: Over three-quarters of UK tech talent seeking new roles

In a new report released on Thursday 6 April, hackajob revealed that over three quarters (77%) of UK tech talent are unhappy in their current roles and actively seeking new ones. The What Do Tech Talent Want in 2023 report surveyed over 1,000 UK technology workers, including developers, engineers, data scientists, analysts, designers, and product managers, among others.

According to the report, only 11% of UK tech talent are content to stay in their current roles. The findings also reveal a concerning disparity between what most UK employers are positioning as benefits and perks to attract and retain talent and what talent actually wants.

Hackajob uses AI to establish a candidate’s experience and how they perform in a series of custom-built tech challenges, and then matches candidates with companies based on their skillset alone. The platform has an 85% response rate and a 75% acceptance rate, with a hire made every 62 minutes on the platform. The average time to hire using the platform is just 21 days, and pricing is transparent with no hidden surprises.

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Company Culture is King

The report also shows that after compensation, candidates are most attracted to a role and organization by the overall culture (15%) and mission (13%). The findings reveal that company culture is crucial for tech talent, with almost half of all surveyed (44%) saying company culture is what they love most about their current company, followed by flexible/remote working (13%).

New ways of working are here to stay

Remote working (61%) is the aspect of tech talent’s jobs they enjoy most, ranking above tech stack (34%), benefits (25%), and location (21%). The biggest work-related frustrations and challenges include salary (34%), lack of learning and development (32%), and not feeling valued (32%).

There is a lot more employers can do to attract, engage, and retain tech talent, with 83% of tech talent wanting to see a 4-day week introduced. Working on their own terms is highly important to tech talent, with remote working (61%), flexible working (57%), and location (21%) being among the highest aspects of why they enjoy their current roles.

Hackajob CEO Mark Chaffey urges companies to really nail their Employer Value Proposition and offer benefits packages that empower talent to have free time to do what they choose. He emphasizes that it’s crucial for companies to look outside of just remuneration in order to retain the tech talent they already have. Chaffey states, “The best benefits package really hone in on what is valuable to people. Crucially, perks shouldn’t all focus on the workplace itself. Tech talent wants to spend their free time either exercising, spending time with their family and friends, working on a project or hobby, and progressing their learning and development. The best benefits package will empower talent to have free time to do whatever they choose.”

Conclusion

The What Do Tech Talent Want in 2023 report reveals a significant shift in attitudes towards job satisfaction among tech workers. The pandemic, shaky economy, and multiple layoffs have led to new priorities, new ways of working, and changing relationships with work, leading to a brand new set of frustrations in the workplace. Employers must adapt to these changes and offer benefits that address the needs and wants of their employees to attract, engage, and retain tech talent.

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The report highlights that there are still many organizations hiring, and with many more people searching for new roles, it’s crucial for companies to focus on their Employer Value Proposition to stand out from their competitors. By offering benefits that empower tech talent to have free time to pursue their interests, companies can attract and retain the best talent and create a positive company culture.


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