Recruiting top knack is a sure way to success, but talented people don’t grow on trees. High aptitude needs to be lured in. You can’t expect to build a great team if the incentive isn’t there.
In response to a new Dice survey, 45 percent of respondents occupying various positions in tech said they wanted more of a work-life balance, but couldn’t achieve it. 27 percent said work-life balance was a myth, and only 5 percent claimed that this was a top priority for them.
Here’s where it gets interesting. According to the data, bigger companies with a more stable future are more afraid than smaller ones when it comes to losing their employees to competitors offering more of this benefit, whether it’s shorter work hours, flexible work hours, remote working, and other perks. Moreover, it’s the talented people that usually take this bait. Moral of the story? Retaining top knack requires a more balanced culture. Other interesting findings include:
- 12% of tech employees in major tech cities think there’s enough housing available (23% in non-major tech cities)
- 46% of tech workers in major tech cities say housing is too expensive (only 20% in non-major tech cities)
- 20% in major tech cities rent because it’s too expensive to buy
- 48% in major cities deal with too much traffc/congestion on their commute (only 32% in non-major cities say the same)
- only 8% of tech professionals (in cities big and small) feel they have enough mass transit options (only 2% say there are enough of carpool options)
- 50% say they would move to another city for a new job
- 52% would move to a different state or region for a new job
- 59% would move to another city for a higher paying job
- almost 50% of tech staffers today are growing increasingly frustrated with a lack of a work/life balance
The numbers show that pay is not the only incentive for tech workers. In fact, pay falls well behind aspects like transport, housing, and work hours – key ingredients for true work-life balance. These are areas where companies can make an effort to show their workers that they understand their personal frustrations and are willing to address them, boosting loyalty and ultimately retaining talent in-house.