Some of the most sought-after career paths right now lie in the tech industry, and rightfully so. The explosive growth of big tech companies such as Google, Meta, and Amazon in the past decade or so has brought about many lucrative and intensely competitive jobs.\u00a0\u00a0
Expanding way past Silicon Valley, tech hubs are springing up across North America, and alongside them, the demand for top tech talent.\u00a0\u00a0Combining the highly coveted positions at giant tech companies with the labor shortage of the current candidate-driven market results in a scenario where smaller tech companies and start-ups might struggle to attract prime candidates.\u00a0\u00a0<\/p>\n
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With that said, the question is this: What are the strategies that smaller tech companies can employ to compete with tech giants?<\/p>\n\n\n\n
There are several advantages of a smaller organization that can be leveraged. <\/p>\n\n\n\n
When a candidate considers an organization’\u2019s total compensation package, the company\u2019s mission, values, and purpose, they can serve as compelling reasons for talent to join an organization. <\/p>\n\n\n\n
These questions and more<\/a> are matters to consider when crafting an Employee Value Proposition (EVP).<\/p>\n\n\n\n One way to attract top tech talent is to communicate that what your company does matters<\/em>. According to the Harvard Business Review<\/a>, 9 out of 10 people are willing to earn less money to do more meaningful work. <\/p>\n\n\n\n Whether the mission of your company is to create a product that combats ecological damage or a service that aims to make the day-to-day life of people easier, be authentic about your company\u2019s mission and communicate it clearly. The mission, vision, and purpose of an organization will attract candidates who share similar passions. <\/p>\n\n\n\n In addition, the role<\/em> should matter as well. <\/p>\n\n\n\n Providing a picture of potential internal and external impacts of working within a role can be a compelling reason for a candidate to join a company. People who feel that their workplace contributions are meaningful have an increased sense of self-fulfillment and improved mental well-being<\/a>. <\/p>\n\n\n\n How does someone in a role contribute to the bigger picture of the company? <\/b><\/p>\n\n\n\n Furthermore, it\u2019s also important to provide attainable career advancement opportunities and offer candidates the ability to grow their skills and career within the organization. <\/p>\n\n\n\n One of the key findings of The American Work Index<\/a> is that working adults highly prioritize a workplace where their ideas are listened to and considered. <\/p>\n\n\n\n As organizations grow in numbers, it\u2019s understandable that certain processes must be put into place to manage work effectively. However, one disadvantage to these processes is that, at times, they may feel unnecessarily bureaucratic. For example, in an organization of over 150,000 <\/a>workers, talent may feel that their individual concerns are unheard, and unaddressed. <\/p>\n\n\n\n In this regard, a relatively smaller company can leverage their size to ensure everyone’s feedback and concerns are heard and addressed. <\/p>\n\n\n\n Relatively smaller organizations: <\/p>\n\n\n\n Communicating to candidates that talent feedback and concerns are valued, listened to, and actioned upon can be a major selling point for a company. <\/p>\n\n\n\n Be able to share, at minimum, one example of how your company made a change based on employee feedback.\u00a0\u00a0<\/p>\n\n\n\n When it comes to worker feedback, it is becoming abundantly clear that remote workers do not want a full return to the office. <\/p>\n\n\n\n Procom\u2019s Voice of Talent report<\/a> surveyed over 1000 knowledge workers, and one key finding to this report is that less than 4% of respondents want a full-time return to the office after the pandemic. Many companies are wise to this sentiment and have either shifted to a fully remote model or some type of hybrid model. <\/p>\n\n\n\nRole meaningfulness & career development opportunities <\/h4>\n\n\n\n
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Adapting to worker feedback & needs <\/h4>\n\n\n\n
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Workplace Flexibility <\/h4>\n\n\n\n