The Latest Trends in Benefits and Salary for the IT Industry

As tech companies fight over top talent, businesses must meet candidate expectations in the areas of salary and benefits to find the potential employees they need to support their operations. The offerings of even a few years ago aren’t necessarily going to measure up in today’s job market, so it is important to review the latest trends in benefits and salary within the IT industry and make appropriate changes. To help you make sure your organization is staying ahead of the competition, here are some current trends worth reviewing.

Performance-Based Salaries

Giving equivocal raises based on conditions like longevity is a thing of the past. Today’s workers are interested in being rewarded for hard work, especially when they surpass the average employee. Providing every employee in a particular job category with the same raise sends a bad message to underperformers and top talent. If you aren’t taking performance metrics into salary consideration, then now is the time to make a change.

If base salaries are more controlled, a bonus system can be a suitable substitute to performance-based raises. Again, these give your best staff members rewards for performance on the job, encouraging them to continue their work and helping them stay engaged. It also provides incentives to underperformers to improve, as the reward for their work is clear.

Flexibility

Tech professionals were some of the first to expect flexible scheduling and work site options thanks to the nature of their work. Often, such duties can be completed from almost anywhere there is a sufficient internet connection, and certain tasks are better handled outside of traditional hours. While having IT professionals in the office for certain activities is beneficial, many of the best and brightest will consider looking elsewhere if a minimum amount of flexibility isn’t provided.

Education and Training

IT is an ever-changing world, and keeping up with the latest developments often requires a financial investment. Companies that provide workers with access to education and training will be favored over those that don’t. Anything from providing departments with training funds to giving staff members education assistance can help them stay apprised of the newest technologies and techniques.

In cases where funds are limited, creating a mentorship program can help professionals who are new to the field improve their skill set as well. In all cases, the business benefits from a more skilled workforce while the individual gets the experience and education they need to succeed in their position.

If you are interested in keeping top-level IT talent on staff, it is important to offer salary and benefits options that meet their expectations. The professionals at The Squires Group can help you review your current project staffing needs and assist in attracting new candidates and improve retention. If you are looking for new employees to join your team, contact us today and see how our services can improve your hiring outcomes.


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