The Tech Talent Trilogy: Adapt, Cultivate and Retain
- By Adrian Bugaian, Endava
- April 10, 2023
Technology is creating significant opportunities for organizations to diversify their workforce by expanding geographically and creating new roles to solve modern business problems. Due to the region's rapid digitalization, businesses are challenged to find suitable candidates that can handle changing market and customer demands. In Singapore, it is predicted that the highly skilled worker deficit will hit 1.1 million by 2030, no doubt further exacerbated by the need for digital acceleration propelled by the pandemic.
A candidate's attitude and skill set determine how well-suited a candidate is. Company culture remains a strong driving force behind employee retention, and a safe workplace where employees feel seen and heard often gives rise to higher employee satisfaction and productivity. The struggle for talent lies not only in attracting but also in retaining. Leaders must adapt hiring strategies, adjust mindsets and build a culture of transparency and open-mindedness to overcome the tech-talent crunch with non-tech capital.
Adaptive skills, not just tech capabilities
While it is never too late for anyone to kickstart a career in the technology industry, an individual’s motivation and the role they want to play within the larger ecosystem should be examined. Working in the technology industry does not necessarily mean being an expert, although having some background is always an advantage. Hiring individuals with little or no background in technology can give the same or even greater return on investment in the long run. Especially as roles in the technology industry continue to evolve, those with different backgrounds provide fresh perspectives and expertise in other areas that add value to larger business objectives.
Hiring strategies should also be adapted to match the region’s culture and strengths. Globally, many have shifted towards skills-based hiring, where the share of managers hired without a four-year degree has grown by 20% since 2019, while the APAC region recorded only a 3% increase in the same period. Non-graduates spend 34% more time with an organization compared to graduates. Practical skills might be more beneficial than paper degrees, but fresh hires are still an effective source of talent. Leaders must also realize they can shape the talent they want to hire.
Organizations can consider partnering with universities to shape course curricula, give lectures and share their expertise on valuable subjects for future graduates to be more competitive. For example, building internship and curriculum programs with educational institutions that help individuals accelerate their path into the technology industry. By equipping them with skills that can be immediately applied in the real world, these programs aim to set employees up for success, providing growth opportunities in terms of complexity and fields of expertise.
Opportunity for work culture reset
For most, if not all, companies, human capital can be said to be the backbone for business growth, crucial for customer engagement and driving product innovation. Undoubtedly, the modern workforce has gone through a shift due to the pandemic, with employees prioritizing work culture and how they value-add over other factors such as financial remuneration and benefits. The pandemic has generated a 52% increase in employees who question the purpose of their day-to-day jobs.
Supporting those within the business is essential to sustaining a resilient workforce, and new hires should be carefully considered to avoid diluting the current talent. It is an opportune time for organizations to rethink their culture and ensure employee sentiments align with the company’s strategic vision and mission. This may translate to a reset for many, where leaders prioritize nurturing the potential of both new and current employees and fostering a culture of openness. It is essential to encourage autonomy while creating a safe environment for individuals to collaborate and speak their minds freely. This champions a sense of job fulfillment and fosters long-term employee loyalty.
The next frontier of employee experience
Underpinning talent retention and cultural resets is employee experience — or, rather, the next phase of it. The pandemic has put more pressure on aspects of work like well-being and equality, with the digital employee experience now being as crucial as the physical one.
These new expectations drive the adoption of new technology beyond virtual calls. How employees collaborate and connect online are now essential aspects of a modern workforce, and organizations must get it right when facilitating such interactions with technology. Having the right technology to support them at work boosts employee engagement and can lead to higher retention rates. 32% and 51% of APAC decision-makers reported that digitizing document processes has increased employee engagement rate and improved collaboration, respectively. With such a significant impact generated by improving a simple admin challenge, leaders have a long runway to elevate team engagement and efficiency further when the right tools are used.
One practical step is to run employee polls on the types of collaborative technology necessary for efficiency. Employers can then identify opportunities to refine existing resources and processes based on these insights, investing in new tools where required to create a more seamless and supportive employee experience.
Ultimately, leaders need to recognize that technology is well-integrated into everyday lives and will become increasingly indispensable in the future. One way or another, each individual will be part of that ecosystem. The missing piece to solving the talent crunch for the tech industry may lie with those without industry expertise.
Casting a wider net for the talent search, fostering a strong culture that imbues current and new employees with a sense of purpose is essential to building company loyalty. This can be achieved by advocating for an open and accepting environment supplemented by technology that enables employee flexibility and collaboration.
Adrian Bugaian, the delivery partner at Endava, wrote this article.
The views and opinions expressed in this article are those of the author and do not necessarily reflect those of CDOTrends. Image credit: iStockphoto/adrian825