Today’s tight labor market is forcing tech employers to thoroughly reevaluate the ways they approach the workforce. Faced with challenges to hire and retain the skilled talent they need, tech companies are implementing new strategies to complement some tried-and-true methods. The Consumer Technology Association (CTA)® interviewed 16 tech companies to identify new approaches for attracting and holding on to their number one asset: human capital.
CTA’s new white paper, What Works: Hiring and Retention Best Practices in the Tech Sector, showcases real-life examples of how tech employers:
High school students represent our future pool of talent. A&K Robotics, a company that develops intelligent navigation systems that transform machines into self-driving robots, provides hands-on robotics training for their local high school’s robotics course in Vancouver. A&K stays connected with the students through post-secondary education and has offered employment opportunities upon students’ graduation or part-time work during the school year.
“Hiring students helps us develop a pipeline for the future,” said Jessica Yip, COO, A&K Robotics.
Some tech companies have reevaluated and changed the minimum requirements for hiring. Human resource experts continue to advocate that hiring managers should hire individuals based on their core skills and competencies, rather than solely years of experience and degrees.
“The companies that have figured out how to pivot to hiring for core skills are the companies that are not finding this 3.5% unemployment market to be all that problematic,” said David Lewis, president and CEO, OperationsInc.
Companies should focus more on core skills, such as the ability to work on a team, and strong communication and problem-solving skills.
Employees appreciate knowing what a career path looks like at a company and how to advance from one role to the next. If employees can visualize their future and growth within their company, they are more likely to stay. Panasonic found this technique valuable and it significantly reduced turnover, especially among millennials.
“When you walk in the door at Panasonic, you will know what your career could look like over time with our company," said Tina Slattery, Director, Talent, Learning, & Organizational Development.
CTA thanks the member companies who contributed best practices for this white paper: A&K Robotics, Amazon, BloomBoard, Bosch, Canon USA, Grant Thornton, IBM, InstallerNet, Klaxoon, MAXSA Innovations, Panasonic, OperationsInc, SkyHive, Sprint, and TeamPeople.