Tech candidates have told us what they want, the ball is in your court...
Sir Richard Branson, Founder of the Virgin Group, is famously quoted as saying, “A company’s employees are its greatest asset, and your people are your product.”
He then went on to say “Take care of your employees, and they’ll take care of your business. It’s as simple as that. Healthy, engaged employees are your top competitive advantage.”
Now, this guy knows a thing or two about business, and throughout his many ventures and startups, he’s worked hard to truly understand what his employees want so that he could harness the power of the workforce to great success.
So, in the ultra-competitive world of the tech sector, where there is a seemingly never-ending war on talent, how can organizations attract, engage, and retain the top tech candidates, that will drive their business forward?
Well, to understand your business, you need to understand your people.
It starts with understanding tech candidates' true motivations. To do so, Lorien surveyed hundreds of candidates as part of its annual "What Tech Candidates Wan" report.
Pay isn’t everything.
It’s no secret that people generally work for money, and money pays the bills. So, it would be easy to assume that the more money a job offers, the higher caliber of tech candidate you’ll get, but that may not be the case.
In fact, we found that while compensation is important to every worker, it's not always their primary motivation for taking or even staying in a job.
The report revealed that many tech candidates prioritize career advancement over pay and the opportunity to learn new technologies and skills or to be promoted up the ladder is more important. Long-term progression over short-term gain!
Interestingly, we often hear hiring managers sell the role by focusing on the "here and now," such as the current team or project they’ll be working on. These managers forget to highlight the growth opportunities within the company—probably the same opportunities that got them their management roles and kept them engaged.
It's also important to note that career advancement doesn’t have to mean people management. We’re seeing more and more career pathways for experienced individual contributors who want to grow into leadership but retain their subject matter expertise. If you’re going to attract the best tech specialists, paint a picture of that journey.
Success without sacrifice
Perhaps unsurprisingly, many tech candidates would choose a flexible schedule that accommodates their preferred work-life balance over a raise, a higher-paying job, or even a management position.
Our survey found that just over half (51%) of tech candidates want fully remote jobs, 42% prefer hybrid arrangements, and just 7% want to be onsite every day.
We found that half of the tech candidates are currently in a fully remote job, and there is a big difference between younger and older workers. 57% of workers over 34 are remote vs. only 29% of younger peers—perhaps due to companies affording more flexibility to their more experienced staff— but in doing so, potentially limiting learning opportunities for those who typically need more support.
We also found that women are more likely to be remote, with an edge of 61% to 44%.
It's important to remember that a “flexible work schedule” doesn’t just have to mean working fully remotely. Companies value collaboration and camaraderie, and people need human interaction. We’re seeing more and more companies adopt quarterly in-person culture events, office rotation weeks, and even "Summer Fridays" with reduced work hours during school holidays to help employees juggle work and personal commitments while still maintaining engagement and protecting their culture.
While return-to-work mandates are moving tech candidates back into offices, we’re seeing more reluctance to relocate for jobs as candidates believe they can wait and secure a remote or hybrid opportunity in their current location.
At every job, you should either learn or earn.
Fewer than 1 in 5 tech candidates say they are happy with their current employer, and 82% of those surveyed said they are open to new opportunities. Among those under 25, 85% plan to seek new employment in the next six months.
These are some pretty eye-opening statistics. How are you supposed to run a business if you need to rehire a team every six months?
But remember, that new job might be right under their noses!
While higher pay is always a strong motivator, the top reason given by 24% of tech candidates surveyed is their desire to learn new skills and technologies. So, before hiring a new candidate to work on an R&D project, why not open it up to the team and backfill their role instead?
The second top reason was a lack of career progression within their current role (17%), followed by a negative company culture (12%).
A simple monthly career conversation about their skills development and long-term goals usually goes a long way towards retaining staff. We often hear great examples of companies holding hackathons or innovation days where they challenge their staff to create prototypes or bring new ideas to the table to solve problems—a great way to leverage the brain power of your workforce and give tech candidates a way to showcase their skills and interests.
Job hunting doesn’t have to be painful.
Job postings are typically quite generic (and more often than not, written by someone other than the hiring manager). Hence, a social media post is a great way to let interested tech candidates know 1) it's a real job and 2) why your team or project would be fun to work on!
Nearly two-thirds (63%) believe a two-stage process is ideal, and most want it completed in no more than two weeks. One-third (36%) desire faster response times and a shorter hiring cycle, and nearly as many (32%) want better communication and more transparency.
The message here is clear. Tech candidates won't wait around.
Many hiring managers forget that the best candidates are usually already engaged in important projects, so every hour spent interviewing is an hour away from work during crunch time. There is also more demand than candidates, so they’re usually interviewing at multiple companies and will take the "urgent project moving quickly” over the company taking its time to "survey the whole field."
Like everything in life, there is a tradeoff between exploring enough options and hiring efficiently, but communication goes a long way. A simple follow-up email from the hiring manager with an expected decision timeline will keep candidates engaged and deter them from looking elsewhere.
Give the people what they want.
In summary, Lorien's research shows that North American tech talent has higher expectations of work flexibility, career development, and the hiring process than ever before.
But if you understand "What Tech Candidates Want," you can attract, hire and engage the best talent that will transform your business.
Here are some final tips and takeaways to help you hire the best of the best:
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Build a strong EVP aligned with what candidates want - Cover compensation, work flexibility and career development within your job posts, interview process and management conversations.
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Create a positive talent journey spanning from attraction to offboarding - Transparency goes a long way. Would every tech candidate you interviewed recommend you to a friend?
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Maintain an authentic and empathetic culture - Hiring is tough, so take care of the people you have and make sure their motivations are being listened to. Often, the best ideas come from the boots on the ground!
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Activate and promote the employer brand - Don't be the world's best-kept secret! Tech candidates' first impression is usually what is posted on a company website or social media, so if you have fun company events, share them; if you’ve just won another award, list it; and if you’re working with some really cool technologies, talk about it. If a candidate looked at your LinkedIn profile, would they think you look like a great boss to work for?
