Recruitment is broken, what are companies doing to fix it?
Companies are battling a skills shortage. Two huge changes are happening at once: a rapidly aging population with fewer young people entering the workforce, and generative artificial intelligence changing the way candidates and employers approach recruitment. With huge investments at stake, how do companies find the right candidate?
Startup vs. Big Company: How to Hire Tech Talent
The following contribution corresponds to the G-P (Globalizations and Partners.com) portal which has a territorial influence in Asia-Pacific, Europe, America, the Middle East and Africa, being an expert organization in HR, IT, startups, business growth, team leadership as well as the financial field.
Every entrepreneurial company has its share of struggles, and in the dynamic startup landscape, many founders have grappled with the same problem for years: losing key talent to more established industry giants.
This struggle is particularly prevalent in the Asia-Pacific (APAC) region, where larger companies nab a significant portion of the region’s top talent.
For example, in Japan, many large companies use tactics such as lifetime employment. Lifetime employment is a long-established practice at many large companies based in Japan, where employees are promised job security throughout their working lives, limiting startups’ access to a broader talent pool.
However, new research shows that the landscape is starting to change
For example, emerging talent in APAC is ready to test the job market, with nearly a third likely to change employers in the next 10 months (a 10% increase from last year).
What can startups do to increase their chances of hiring the best and brightest in the tech sector? Let’s explore how companies in the APAC region can attract and hire tech talent in today’s fast-paced market.
Tech Hiring Challenges in 2024
How can startups hire tech talent and attract skilled professionals from their competitors?
The answer to this hiring challenge might be hiding in plain sight. While the economy has recovered from the pandemic lows and the mass talent exodus of 2022 has largely subsided, large companies have adjusted their workforce priorities, making more skilled tech workers available than in previous years.
At the same time, the employer-of-record model made possible by companies like G-P now offers startups the same access to global talent pools as their more established rivals.
The job market is flush with new Gen Z talent
who are seeking employers that better align with their core values, growth ambitions and work-life balance preferences, which can be a boon for startups and entrepreneurs who have struggled to attract talent from high-profile competitors.
As the fight for talent continues to evolve, one thing is clear: hiring the best tech candidates is key to the long-term viability of startups.
Which tech jobs are in demand?
It’s no secret that the tech industry continues to dominate fast-growing positions, especially in the APAC region, where the tech talent market is particularly dynamic.
As 2024 unfolds, companies are actively hiring skilled talent in fields such as DevOps and cloud initiatives, information security, AI, automation, system upgrades, software development, data integration, and analytics. According to Robert Half’s report on tech salaries and hiring trends, competition for tech candidates remains high, with 61% of hiring managers planning to expand their teams in 2024.
The cybersecurity workforce in APAC grew by 11.8% in 2023
And now stands at just under one million professionals. Despite strong cybersecurity statistics, APAC-based companies are still struggling to keep up with crypto talent.
Of the two million software developers in India, only 5,000 possess the skills required to succeed in the global blockchain solutions market.
While tech talent exists across the globe, demand for talent still outstrips supply in the APAC region.
5 Ways to Attract and Retain Tech Talent for Startups
Like a siren signaling the need for change, the “Great Quit” movement has forced companies to pay attention, notice, and respond to the changing needs of tech employees.
The APAC region in particular has seen a worrying shortage of tech talent, a growing skills mismatch, and an aging population in countries like China, Australia, and Japan.
As a result, positions are becoming harder to fill
A recent IDC report, Enterprise Automation to Mitigate the Digital Skills Shortage, revealed that around 60-80% of APAC-based organizations are struggling or extremely hard to fill vacancies in vital IT positions, including security, development, and data professions. Recognizing the need for innovative solutions, APAC recruiters have set their sights on global talent pools.
Let’s explore how to hire for a startup and attract the best global candidates today.
- Clearly define your technology stack and role requirements.
Before you dive into the hiring process, it’s critical to have a clear understanding of your specific technology needs. Make sure you identify the specific programming languages, technologies, project management tools, and frameworks your startup will be working with.
This approach will help you write targeted job descriptions to attract candidates with the right technical and soft skill sets.
Whether you’re looking for a dedicated data scientist or building a creative team, clear job requirements will pave the way for successful hires.
The language used in the job description and interview process is equally important—ensuring your recruiters effectively communicate the role’s requirements and understand technical jargon helps align expectations from the start.
In most cases, technical recruiters are best suited to discern a candidate’s qualifications and understand the unique needs of these positions.
Remember: Your job description is your first point of contact with job seekers in the hiring process
Make sure you write a strong job posting that clearly highlights the challenges and growth opportunities your startup offers.
- Differentiate your employer image from that of larger companies.
The way companies market themselves can determine their success in attracting key talent, especially for smaller startups battling the tech titans. An employer image that doesn’t take into account the needs of top employees will likely lose existing talent and discourage potential candidates.
Startups and smaller companies are taking note, actively listening and tapping into the desires of the tech talent pool throughout the interview process.
Today, anyone with digital savvy does their due diligence on a potential company before pulling the trigger and accepting an offer, so the way companies market themselves can determine their success in attracting key tech talent.
Take PayPay as an example. The Japan-based fintech company embodies the flexibility mantra by offering a work-from-anywhere allowance and access to WeWork offices across Japan to all of its employees.
- Focus on work-life balance.
When it comes to attracting tech talent, a strong company culture is key. A recent survey by Randstad Singapore found that more than 40% of workers in Singapore would leave their jobs to achieve a better work-life balance. This underscores the importance of creating and promoting a flexible work environment, with a focus on work-life balance.
According to another survey conducted across seven countries by McKinsey & Company
39% of respondents said they plan to leave their jobs in the next three to six months. Organizations can respond to the drop in employee attrition by tailoring employee value propositions to specific preferences. For example, 41% of Gen Z candidates are looking for remote and flexible work options.
Make work a positive experience by offering flexible work alternatives and a performance-based culture. Startups and tech companies can go further by enforcing strict log-off times to prevent burnout.
- Prioritize benefits and perks from day one
According to the 2023 Tech Salary Report, the positions with the largest year-over-year salary increases in 2023 were blockchain engineers (+15.62%), mobile engineers (+11.73%), and site reliability engineers (+10.63%).
In most cases, large tech companies are likely to be able to outspend startups, but offering a competitive salary isn’t enough.
Stock options and equity are a lure for top-tier tech talent
In addition to giving employees a sense of ownership, a tangible stake in the business can motivate employees to stick around for the possibility of a lucrative payout once the company goes public.
To sweeten the deal and stand out, companies can include health insurance options, flexible time off, attractive career development plans, and a reliable set of technology tools for project management, developers, and analysts.
- Adapt your hiring approach to Gen Z.
Gen Z is expected to take the tech world by storm, and the number of recent tech graduates in APAC is on the rise.
In fact, India is one of the largest STEM job markets in the world, contributing nearly 31.7% of the world’s total STEM graduates in FY2023-2024.
Although this generation is growing in number, it can be difficult to attract and engage them in your open positions. After all, Gen Z is directly influencing employers to remove outdated policies that no longer resonate with today’s human-centric workplace.
When recruiting emerging talent, here are some helpful tips to keep in mind:
– Offer learning and development opportunities
As true digital natives, this generation values interactive learning and expects technology to play a pivotal role in facilitating a well-rounded training experience. Companies can use gamification and other video-based collaborative platforms to attract Gen Z tech talent.
– Automate the onboarding process
Talent acquisition teams can also leverage technology to create an automated and personalized HR experience that can attract top-tier talent.
– Streamline communication
Clarity and efficiency in the recruiting process are key for this generation. Be clear from the start about the steps and length of the selection process. A long, drawn-out hiring process can turn off a highly qualified candidate.
Hire Top Tech Talent
Identifying the needs of tech professionals is a step in the right direction, but without a solid talent acquisition strategy, tech companies can run into roadblocks throughout the hiring process.
Accessing Talent: How to Tap into Dynamic Global Talent Pools
Today’s leading companies are leveraging global talent pools to create competitive advantages for their businesses, such as building a versatile workforce, leveraging diverse talent for innovation, and entering new markets with local expertise.
How to choose the right candidate for the job? (20 tips)
The following contribution corresponds to the WeCp portal that regarding how it is defined says: the story of WeCP
In the future, there will be no such thing as «business as usual.» Companies will either innovate or become irrelevant. Companies want to solve the problems that matter most, but more often than not they don’t ask their potential employees to solve the problems that matter most. That’s the gap that WeCP is trying to solve.
And the author is Abhishek Kaushik Co-founder and CEO of @WeCP, responsible for creating an AI assistant to create assessments, questions, exams, quizzes and interview challenges and conduct them online with just a few prompts
Explore 20 essential tips to choose the right candidate for the job, streamline the hiring process, reduce the risk of bad hires and ensure you attract and retain the best talent.
Choosing the right employees to hire is essential to the success of any organization. Amidst an overwhelming amount of resumes and interviews, it can be difficult to find the ideal candidate.
The process of finding the perfect candidate involves more than just matching skills and experience to a job description.
It requires a deep understanding of the candidate’s potential to grow, adapt, and integrate seamlessly into your company’s culture.
Therefore, the hiring process must be comprehensive and strategic, ensuring that each step is designed to assess not only the candidates’ technical competencies but also their ability to thrive in the organization’s environment.
This guide outlines 20 essential tips for choosing the right candidate for the role, each accompanied by practical steps for implementation.
These tips are designed to streamline the hiring process, reduce the risk of bad hires, and ensure that you attract and retain the best talent available.
From creating a clear job description to utilizing assessments and considering cultural fit, these strategies will help you make informed and confident hiring decisions.
20 Tips on How to Choose the Right Candidate for the Job
- Look for the right talent and cultural fit
- Conduct skills assessments
- Find out if they are a team player
- Write a clear job description
- Review their past achievements and performance
- Pay attention to their questions
- Check if the candidate has a positive attitude towards feedback
- Evaluate their body language
- Conduct a thorough background and reference check
- Find out if they have a learning attitude
- Ask them about their career goals
- Follow your instincts
- Get the candidate out of the office
- Use behavioral assessments
- Focus on the future
- Evaluate their work ethic and attitude
- Get feedback from people who were not part of the interview process
- Ask the candidate about something they are passionate about
- Offer a competitive compensation package
- Implement and use employee referral programs
- Find the right talent and cultural fit
While work experience is important, the talent AND cultural fit of the candidate you are hiring is more important. Finding a candidate who meets existing requirements is only one aspect of hiring.
It’s about choosing a person who can develop and change with the times. When the economic winds change, the ability to adapt, to adopt new roles and ways of thinking, is essential.
Tips to implement
Create a detailed profile of your company culture, including values, work environment, and team dynamics.
Use behavioral interview questions to assess cultural fit. Ask candidates to describe past experiences that reflect your company’s values.
Involve team members in the interview process to assess cultural fit from multiple perspectives.
- Provide skills assessments
Most companies acknowledge that they selected an unsuitable candidate for a job. This is typical, particularly in the absence of a competency assessment test. Interviews are important, but they can’t provide the whole story.
You can find out a lot about a candidate’s skills and thinking by giving them a task related to the position they’re applying for. Even if the outcome isn’t exactly what you expected, it will give you insight into how they approach tasks and find quick solutions to problems.
Tips to implement
Design tasks that closely mimic the responsibilities of the position.
Use standardized skills assessments to objectively compare candidates.
Conduct live problem-solving sessions during interviews to observe their thought process.
