Is money the differentiating factor of an offer? No, absolutely not, and less and less. The first factor that makes a good candidate move is the project. In most cases, it is even about the technological project behind it and their perception of whether or not the company interested in hiring them will actually invest in technology. Then, there are also other booming factors such as the possibility of telecommuting, flexible working hours, international environment, etc.
Money is not everything and even less so when you have already covered all your basic needs and expectations. The same is happening in the IT sector. While it is true that the salary band is the first thing a candidate looks at when applying or responding to an offer, it is increasingly common to find companies surprised that, despite having made the offer with the highest economic retribution, the candidate has preferred to keep his current position or choose another offer with lower remuneration.
The technological revolution is becoming more and more notorious in Spain, where we find a clear problem in the IT sector: the demand for IT profiles is growing at a speed that the supply cannot cover. As a result, companies compete for the same candidates.
Problematic factors
Conformism: companies are willing to hire profiles that do not have sufficient quality or experience in order to meet their key needs.
Inflation: the lack of supply in the face of the growing demand for IT profiles makes companies compete in a kind of auction in order to get hold of the few available candidates. As a result, very junior profiles quickly exceed salaries of €30,000 and IT managers are among the highest paid in the company (if not the highest). Recent data show that the IT market in Spain inflates annually by 5% more than in other areas.
Volatility: as if this were not enough, IT profiles are the most volatile. Retaining this class of workers has become an odyssey, as they are assaulted daily with new and tempting offers. The average turnover in these profiles in Spain is below 18 months.
We are well aware of this issue at TalentFY and it is our priority to ensure that when we find the ideal candidate that our client is looking for, the match and commitment is reciprocal.
The solution to this problem is not difficult to find, but it is difficult to execute, since it consists of being able to attract the 10 candidates without contributing to the IT market’s salary inflation. For this, it is key that the recruiter is able to accurately and accurately convey the value of the job offer to potential candidates and filtering those who really fit with the project and the company’s culture.
That is why in TalentFY not only do we demand that we find high quality candidates in record time and that they fit what our clients are looking for, but we also strive to ensure that when the final candidate joins us, he/she does so with the attitude: I’m here to stay!
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