Built In, a recruiting platform for technology professionals, launched research today about what tech candidates truly want from employers. The two new reports cover candidate preferences on a variety of employer offerings, including perks and benefits, compensation and other workplace preferences.
The data was compiled by analyzing survey responses from more than 1,000 employed tech professionals across the country in March 2023. Built In’s 2023 Candidate Insight Report: Navigating Total Rewards Packages report shares findings from tech professionals as a whole. The second report, 2023 Candidate Insights: Next Generation of Tech focuses on generational differences so companies can prepare their organizations to meet expectations for younger tech employees.
“Employers who continuously listen to and act upon ever-changing workplace expectations are the best poised to successfully recruit and retain top technical talent,” says Maria Christopoulos Katris, CEO at Built In. “Our latest research offers employers the insights they need to strategically future-proof and evolve their organizations today.”
While the perks and benefits expectations of employers don’t change drastically by generation, the order in which they are prioritized do. While baby boomers are looking for more support in flexible work and retirement contributions, the next generation of tech desires a bigger focus on wellness and diversity, equity and inclusion (DEI.) Early career professionals also put a bigger emphasis on the importance of perks and benefits. For example, if a company has poor benefit offerings, 60 percent of early-career professionals would look for a new job immediately while only 56 percent of mid- to later-career professionals feel this way.
With 70 percent of survey participants saying that salary is very or extremely important when considering a job offer, it’s clear that competitive compensation is also an essential part of any business’s total rewards package. In fact, we found that 16 percent would turn down a lucrative offer if they received a better counteroffer from their current employer.
Unfortunately, newer tech employees don’t feel good about their current compensation: only 53 percent of early-career professionals feel they’re fairly compensated, while almost 70 percent of later-career professionals believe they’re fairly compensated at their current position.
Today’s workforce continues to value remote, hybrid and flexible work options. In fact, 28 percent of survey respondents said that requirements to work in-office would cause them to immediately start looking for a new job. Similarly, Built In’s survey showed over 50 percent of respondents wouldn’t accept a job offer that lacked hybrid or flexible work options.
To get additional insights, read Built In’s 2023 Candidate Insights: Next Generation of Tech report here and the 2023 Candidate Insight Report: Navigating Total Rewards Packages report here.
METHODOLOGY
The primary data in this report came via the Built In Tech Worker Survey, conducted in partnership with Brandata, of 1,089 employed tech professionals across the country in March 2023. Respondents came from a wide range of backgrounds including engineering, sales, project management, operations, data and analytics, marketing, human resources and many others.
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