Silicon Valley goes to extreme lengths to lure and retain tech talent — from office puppies to on-site massages to catered meals. But which benefits actually matter to the talent you’re trying to recruit and hire? And which ones actually help you sign that talent faster? Augmented writing platform Textio scrutinized the performance of 75 benefits in over 300 million job posts to see which perks actually attract IT job seekers and speed up hiring time.
“By far, the ‘standard bearers’ of company benefits did have a positive impact on hiring time: leave, insurance and financial incentives,” says Kieran Snyder, co-founder of Textio, whose platform predicts the performance of business documents as they are being written and guides authors to improve the effectiveness of their writing in real time. “So, I wouldn’t ditch those. But do you need to offer onsite massage? It has no impact on hiring. How about that climbing wall? Nope. Concierge services? Nada. Puppies? Please, tell me dogs in the office made the cut!? Definitely not (neither did puppy leave),” Snyder says.
As it turns out, flexibility and work-life-balance benefits are in greatest demand from IT job-seekers, and they also speed up companies’ time-to-hire, according to the Textio data. So, while dogs in the office are absolutely a “nice-to-have,” these five benefits are “must-haves” to be competitive when hiring tech talent — and they can also speed time-to-hire.
1. Caregiver leave
Being able to take time away from work to care for a child, an elderly parent, a spouse or partner or another family member in need is a critical benefit for job-seekers. And companies offering this benefit can expect to fill available roles 23.5 days faster than those that don’t, according to Textio’s analysis.
2. Adoption leave
The adoption process is not only costly, it’s extremely lengthy and time-consuming. Potential adoptive parents need ample time for applications, travel, interviews, screenings, home visits and the like, not to mention time to bond with a new family member or members once adoption is complete. Companies that offer this type of leave can expect to fill roles 22.0 days faster than companies that don’t, according to Textio’s data.
3. On-site gym
“Clearly, leave is important, but if you must have one ‘Silicon Valley style’ perk on offer, it should be an on-site gym,” Snyder says. Textio data also shows that companies offering an on-site gym fill positions 19.7 days faster than companies that don’t offer this benefit.
4. Performance-based incentives
From cash bonuses to stock options, profit sharing and other incentives, companies that offer these types of benefits can expect to fill vacant roles 19.5 days faster than companies that don’t, according to Textio’s analysis.
5. Family leave
Whether candidates need time to care for children, parents, spouses, partners, siblings or any other-family related situations, this more general leave benefit can offer that flexibility. Organizations that offer this benefit can expect to fill available roles 17.5 days faster than companies that don’t, according to Textio’s analysis.
It’s also important to note that the language you use when crafting your job descriptions is important, Snyder says. Textio’s analysis shows that, while offering “vacation” as a benefit can actually slow down your hiring process, “leave” is clearly a necessity for job-seekers.
“The fact that ‘vacation’ can actually slow down the hiring process just goes to show that how you talk about your leave will impact who applies. Language is always changing, and ‘leave’ is hot today, whereas ‘vacation’ is passé,” Snyder says.
For the full list of benefits that speed (or slow down) time-to-hire, and more analysis of the data, check out Textio’s blog post on 20 benefits that speed up hiring and 5 that slow it down.
Related hiring and staffing articles:
- 8 hot IT hiring trends — and 8 going cold
- The 7 most in-demand tech jobs for 2018 — and how to hire for them
- How to win the war for top tech talent
- Compensation planning: Your key to retaining top talent
- Workplace flexibility: Your key to hiring and retaining the best
- The 13 best-value cities for hiring tech talent
- 9 reasons good employees leave -- and how you can prevent it
- 7 training companies primed to upskill your IT pros
- 5 innovative IT hiring strategies
- 10 most difficult IT jobs for employers to fill
- 6 leadership qualities to look for when hiring