Navigating Talent Scarcity

In today’s competitive landscape, securing top talent remains a critical objective for organisations across industries. As we navigate the ongoing challenges posed by talent scarcity, it becomes increasingly evident that innovative employee job benefits are key weapons in the battle for recruitment and retention.

Reflecting on recent global events, such as the Russia-Ukraine conflict, we observe how geopolitical dynamics can significantly impact talent migration patterns. Reports indicate a notable exodus of IT professionals from Russia following the outbreak in 2022, prompting governmental responses aimed at incentivising their return.

Similarly, nations like the United States have adjusted visa regulations to attract skilled professionals, underscoring the importance of remaining adaptable to evolving circumstances.

What do employees want when considering a move?

When contemplating a career change, employees cited the top five job benefits that prompt action as (1) Basic Salary (2) Career Progression (3) Work-life Balance / Well-being (4) Fully remote work, and (5) company culture.

As younger and more diverse candidates enter the employment market, there is a notable shift in priorities, and they bring with them a different focus demanding more social responsibility from employers. As a result, we are seeing companies adapt and introduce various programs including:

• Diversity & Inclusion initiatives.
• Volunteer opportunities for charitable causes, alongside traditional holidays.
• Emphasis on Environmental, Social & Corporate Governance (ESG)
• Policies allowing employees to bring their children or indeed their pets to work.
• Opportunities to work from abroad during summer months, allowing international candidates to travel home to visit family and explore other parts of the world. There are also secondment opportunities to other international offices.
• Our colleagues in our US office report that Free Friday afternoons are becoming more popular, while another client offers a 4-day work week during July, August, and December without any salary reduction when projects and workloads can be slightly less demanding.
• Following a similar trend, our colleagues from Spain have reported the popularity of Free Friday afternoons, and shorter working days during summer in July and August, known as “jornada intensiva”.
• And of course, a favourite for businesses in Ireland is the benefit of rewarding their staff up to €1000 each, free of tax, USC or PRSI.

The need for innovation

These developments serve as poignant reminders of the need for agility and innovation in talent management strategies. As your partners in recruitment, at E-Frontiers, we’re committed to helping you navigate this ever-changing landscape by offering tailored solutions and insights that align with your organisational objectives.

Deep dive into our survey insights

Our survey responses were collected from more than 1400 participants from the IT Sector, primarily in Ireland. Data reflects insights gathered in January 2024.

Financial Benefits

We asked the question: What financial benefits are being offered to you? Not surprisingly, Health insurance, Pension, and Bonus are the top 3 financial job benefits that are currently offered in the Irish IT market (Permanent and Fixed Term)

Annual Leave

Our survey data reveals that the majority of candidates typically enjoy 22 to 25 days of annual leave, constituting 48% of respondents. Conversely, merely 5% of candidates are privileged to receive 30 days or more of paid time off. On the lower end of the spectrum, 18% of surveyed candidates reported having fewer than 22 days of annual leave.

Remote Work VS Hybrid Work VS Onsite

The trend here is clear, as the majority of candidates continue to work remotely for at least some days each week. According to our data, 39% of respondents work fully remotely, while only 11% work primarily from the office.

Annual Leave by type of contract

Fixed Term Employees typically have one day less of annual leave, with 23 days compared to Permanent Employees’ average of 24 days.

Remote Work by type of contract

Contractors comprise the largest portion of fully remote workers, accounting for 44%, and are also the least frequent visitors to the office, at 10%. Data indicates that permanent employees predominantly work from home, with 38% fully remote, 33% working 3-4 days from home, and 20% working 1-2 days from home.

Adapting to Employee Needs: Prioritising Engaging Roles

So, while employers seek to hire the best talent, they must keep their finger on the pulse to keep up with the changing demands of employees and continue to innovate in this area.

Nevertheless, it’s essential not to overlook that an engaging role, offering challenges, ongoing learning opportunities, and personal fulfillment, should form the cornerstone of any job benefits program.

Conclusion

Overall, employers who prioritise these sought after benefits and adapt to evolving employee needs are more likely to attract and retain top talent in today’s competitive job market.

Employers must regularly assess and adjust their job benefits packages to remain competitive and meet the diverse needs of their workforce.

Contact us today and let’s explore how we can collaborate to address your talent needs effectively and drive sustainable growth in your workforce.

Article Author: Anca Antonica is a Principal Recruitment Consultant with E-Frontiers and brings exceptional value to both her candidates and clients by offering end-to-end services. Anca has a superb track record of hiring software engineers for a range of clients, from start-up companies to large multinationals across multiple industries. Anca offers great support to her candidates to enable them to succeed in their interviewing process for both contract and permanent IT jobs. She is superb at matching a candidate’s skills and needs to meet her client’s requirements. She focuses on IT jobs such as Java – Backend or Full stack, C# / .Net – Backend or Full Stack, C/C++/embedded, Middleware, and Microsoft Dynamics/Salesforce. Anca holds a degree in Social Work from the University of Bucharest.

Feel free to get in touch with our commercial team to discuss your recruitment needs:

IRE:  Nigel Bolger : nigel.bolger@e-frontiers.ie (m: 00353 86 3888147)

UK: Kenneth O’ Connor : kenneth.oconnor@e-frontiers.com (m: 0044 740 365 1213)