Hiring and Retaining Talent in the Tech Industry

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The Graphs:

Harris Allied Research, a division of the placement services firm Harris Allied, publishes an annual report on the acquisition and retention of talent in the information technology sector. The 2017 report reflects surveys of more than 125 professionals. These participants were asked about their topic of greatest concern regarding hiring, and the top reasons they identify that lead to declined offers and employee attrition. The set of graphs show the distribution of responses to these three questions.

The Message:

Hiring and retaining top talent in the tech industry is no walk in the park. It’s a competitive field with high demand for personnel that continues to grow. As such, it’s important to identify quickly if and when something goes wrong in the process of building and maintaining your team. This knowledge can then be used proactively for future recruiting purposes to ensure that the next time around, you land the best candidates and keep them employed.

By a significant margin, the top concern related to human resources is finding and hiring the best talent; half of the respondents identify this as their primary struggle. A much smaller proportion (one-fifth) believe retaining their team is the main issue. This suggests that tech professionals are much more concerned with getting talented individuals in the door. Once the new hires are on board, there is less worry about keeping them at the company.

Respondents also identified the key blockers regarding getting offers accepted, and keeping hires engaged. Three of the most common reasons for having an offer declined cited competing offers, with better compensation from another offer leading the way. Reasons for losing current employees can also involve competing companies – the top response implies that personnel often leave not because of what is lacking at your business, but because of what is available another.

Whether your greatest challenge for the year is hiring new employees, retaining your current team, or something else entirely, take some time to identify the root of the issue. It may be something that can be adjusted easily, giving you an advantage in this extremely competitive industry.

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