Closing the Tech Talent Gap: Recruiting and Retaining Workers with Leading Technical Skills

In 2021, roughly 3.9 million workers quit their jobs every month, breaking the previous record of 3.5 million in 2019, SHRM reports. This was in part due to the increasing demand for technical talent and the lack of qualified candidates to fill these positions. In December 2021, there were 197,000 more open IT roles in the U.S. compared to roughly one year before, Forbes reports.

Employers are now searching for new strategies for technical employee recruitment and retention in 2022 and beyond. The U.S. Bureau of Labor Statistics predicts a 13% increase in IT employment from 2020 to 2030. But it remains especially difficult to acquire and train top technical talent, as these workers are often poached by other companies. In this article, we explore opportunities for employers to attract and secure workers with technical skills.

The Evolving Dynamics of the Technical Talent Market

Technology is becoming more integral to every business, impacting operations and talent requirements. Because of this, many companies are willing to pay top dollar for talent with strong technical skills that can help them succeed in an increasingly competitive marketplace.

Most U.S. workers have at least one technical skill, meeting the basic needs of the modern workplace. However, highly technical skills in data science, data analytics, and information technology are in much greater demand. The highest paying positions are in engineering and computer programming, which can pay $80,000 or more per year. Wages for technical workers far exceed the median hourly wage for workers in general as well, the latter of which tends to hover just above $11 per hour, Statista reports.

Now, demand for technical skills is growing faster than demand for other base skillsets, suggesting the market will only grow more competitive for employers. LinkedIn data shows the fastest growing skills in demand are around cloud computing, data analytics, artificial intelligence (AI), and machine learning algorithms, among others.

Three Ways to Attract Today’s Technical Workers

1. Offer professional growth opportunities. Employers often neglect to evangelize how they prioritize technology within their organizations and thusly, the skills and needs of technical workers. Employees can include details of how technology is prioritized and integrated as they put in recruitment efforts for technical workers and align those efforts with professional growth opportunities for technical staff within the organization.
2. Offer truly competitive wages and benefits. Competitive salaries, health insurance, and 401(k) plans are common benefits, but not enough to deliver a truly competitive total benefits package. Employers should explore additional benefits and perks which technical employees often prioritize, such as lifestyle benefits, mental health services, generous leave, and training opportunities for specialized skills.
3. Adapt company culture to put technical staff at the forefront. Employers can reassess their company culture, ensuring that IT and data teams aren’t left out of larger conversations about business priorities and engagement opportunities with fellow employees.

Let’s take a closer look at these three focal points. In doing so, we will demonstrate how employers can be proactive in recruiting and retaining technical workers.

1. Offer Professional Growth Opportunities

Besides salary and benefits, “limited career progression” is the most common reason employees leave their positions, Forbes reported in November 2021. Strategies to consider include:

• Prioritize technical training programs or workshops on topics such as AI and machine learning algorithms. With these opportunities, technical workers can feel more confident they are reaching the top of their field and apply their knowledge more proactively on the job.
• Create a professional environment where technical workers feel encouraged to innovate and experiment with new ideas. This helps employees stay engaged at work, which is important for retaining them long term—especially in technical roles that can become repetitive.

By employing creative methods, being transparent and offering professional growth opportunities, employers can make their company more attractive for these types of employees while also making sure they keep their current employees engaged.

2. Offer Truly Competitive Wages and Benefits

“Competitive benefits” is now cliché. Too often, this term includes only the base benefits required for salaried workers to consider a job. In addition to competitive wages and benefits, employers can consider offering the following types of benefits which appeal directly to workers with technical skills:

• Allow employees with technical skills to have a degree of flexibility when it comes to their work arrangements will help keep them engaged and productive. Technical roles are often a great fit for remote work, but supporting those employees effectively requires sophisticated cloud-based tools and generous support for at-home equipment.
• Offer tuition reimbursement for technical courses or other professional development opportunities. This includes sponsorships, travel, or membership support related to professional organizations and conferences that apply to their roles.
• Support family care, including maternity and paternity leave options, and childcare support beyond industry standards as they stand today. These can be great differentiators for employee retention as technical employees seek out companies with which they can grow.

3. Adapt Company Culture to Favor Technical Workers

In terms of company culture, employers should begin by ensuring more openness about company policies related to issues like diversity, inclusion, and equity. This shows that the employer cares about its employees and is willing to be transparent about how it operates.

Employers should also be aware of the potential challenges and sensitivities they may face when trying to attract workers who are not currently employed. For example, some candidates may have been laid off due to COVID-19 related job loss and might be reluctant about working for a company that does not offer stability in its employment practices. Employers can work to provide environments where these employees feel more valued and have a voice in decision-making processes.

Finally, employers must be aware that many workers with technical skills are attracted to companies who have a good reputation for being environmentally friendly. Offering green initiatives like recycling programs, using renewable energy, or supporting local charities can help an employers’ recruitment efforts when trying to attract these types of employees.

Preparing Your Technical Workforce for the Future

More than 40% of software engineer and developer hires were made by non-tech companies, up from about a third in 2010, Harvard Business Review (HBR) reports; a trend that is accelerating today. It will be critical for employers who want to retain their current employees and attract top talent in the future to focus on recruitment and retention strategies related to workers with technical skills.

There are dozens of opportunities within traditional categories—wages, benefits, culture, and professional growth. However, companies increasingly must look at their overall corporate agenda as it impacts recruitment and retention—especially in high demand roles where workers have broad choice. Environmental sustainability, moral guidance, and equity in business and hiring practices will be front of mind for a new generation of technical workers. They should be front of mind for employers who wish to succeed as well.

Partner with Uvation for your Technical Talent Strategy

The consultants at Uvation can help as you prepare your own technical talent recruitment and retention strategies. Contact one of our talent experts and begin a conversation about your future talent opportunities today.