From the employer side, the extremely competitive market for technical talent has presented a plethora of new challenges. Highly skilled professionals are choosing jobs based on more than just numbers. Now that nearly every company needs tech talent, work environments are highly scrutinized by prospective employees. In Silicon Valley, the Mecca of the American technology scene, companies are finding increasingly creative ways to acquire and retain their talent. Signing bonuses, generous paid vacations, and lavish employee benefits are setting the bar very high in this booming market.
Besides the tangible perks offered to them, many individuals want to feel like their work is making a difference in the world. Companies like Google, Apple, and Facebook are branching out into various experimental fields in an arms race for radical innovation. By giving your employees a deeper sense of accomplishment, you are giving them a reason to continue working for you.
Once you have hired your talent, it is also important to mind the shift in power structure that has occurred in the industry. Nobody, especially a highly coveted candidate, wants to feel unimportant in their workplace. Many talented individuals actually prefer to work in smaller companies to avoid feeling like a small fish in a large pond. The larger-than-life CEO persona who is inaccessible to his subordinates is a thing of the past. Now, employees at large corporations expect more hands-on leadership and an open environment between themselves and their superiors.
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