Some Tech companies are offering money to interview.
In what has been termed THE GREAT RESIGNATION, many people are quitting their jobs for various reasons. About 33 million Americans have quit their jobs since the spring of 2021.
Most of them have been quitting seeking better opportunities and others have been retiring early.
Similarly, there has been a record resigning rate in the United Kingdom, one that has not been witnessed since 2009 according to a report by the Chief UK economist at Deutsche Bank.
This resignation is largely led by tech workers. As a result, tech companies have become desperate to keep talented workers and others are desperate to hire highly talented workers.
BenefitsCanada reported, “Pinterest is expanding its parental and fertility benefits offerings, including the addition of two rounds of in vitro fertilization and egg freezing.”
“The social media company’s enhanced benefits — available to all employees worldwide — also include a minimum of 20 weeks of parental leave for all parents, while adoptive parents will now have 20 weeks of paid leave — up from 16 weeks — and £10,000 in financial assistance, up from £5,000, according to a press release.”
A Global fintech, Finder, announced it will be offering an additional 5 days of paid leave for its permanent employees, effective 1 December 2021.
There are many other attempts by many tech companies to keep their workers motivated including a work from home policy. These words of company benefit are spreading quickly on social media as employees share the hashtag #ShowUsYourLeave on Twitter and Linkedin.
The pandemic that forced people to stay at home starting in late 2019 made many people re-evaluate their lives and reconsider the work-life balance. The combination of these factors and many others has made many workers seek better opportunities with other companies or start their own ventures.
The high number of startups in Europe and the United States has also contributed to a scramble for talented tech workers. As a result. The pool of talented tech workers keeps shrinking, widening the gap between the supply and demand of tech workers.
This has made employers resort to drastic or creative measures to recruit as much talent as possible. It has been reported that candidates are even being offered money just to show up to job interviews.
According to Financial Times, “The founder of Deutsche Familienversicherung, a fast-growing insurer based in Frankfurt, is offering €500 to anyone who interviews for a vacancy, another €1,000 to those who make it to a second round, and €5,000 more to those who complete a six-month probation.”
Wired.com reported that Ethical Tech Software; Freedom Conservancy pays interview finalists $500 each, and Cactus Communications offers 5 percent of a role’s annual compensation as a welcome bonus.
These levels of creativity or desperation have shown to what extent employers are willing to stretch in order to attract talented workers. They understand that a talented workforce equals growth.
What does this mean for Software Engineers and other IT professionals?
This is a window of opportunity there; it just tells us how much of opportunities are available around the world. With remote work now being a thing, there is no limit to where you can work around the world. Tech professionals must do their due diligence to take advantage of these times.
For self-taught software engineers, these are opportunities that can land you that dream job if you put your hands to it, it’s time to up your game, there may be a lot of demand for tech workers but the field is still competitive and employers are making sure to hire the right candidates even in such desperate times. You can use the Bloomtech strategy to help you prove your talent to would-be employers.