In recent decades, the world has witnessed the unparalleled growth and evolution of the digital revolution. This revolution has reshaped industries, disrupted traditional business models, and transformed the way we work.
After working with thousands of candidates over the past decade, we’ve seen a shift in favor of more traditional, more stable industries. The trouble is that these types of companies typically have difficulty speaking the ‘language’ of tech people. So even though tech candidates want to work in these traditional companies and traditional companies have identified a need for tech candidates, there is a slew of issues that are causing a breakdown in what should be a seamless transition from Big Tech to tech roles in traditional industries.
We’re getting into the nitty-gritty of exactly what the digital revolution is, what it means for your hiring plan and how recruiters in traditional industries can bypass the communication issues to attract, hire and retain startup-minded candidates.
What is the Digital Revolution?
Alright, let's start with the basics. The digital revolution is all about the massive changes brought about by technology over the past few decades. It has transformed industries, disrupted traditional business models, and revolutionized the way we work. From the advent of cloud computing and artificial intelligence to the proliferation of mobile devices and the Internet of Things, technology has become deeply ingrained in our daily lives. This revolution is not just a passing trend; it's an ongoing transformation that demands our attention.
What Does the Digital Revolution Mean for Your Hiring Plan?
Now, let's talk about you and your hiring plan. Traditional enterprise companies are (finally) realizing the urgent need for modernization. Without a seamless transition to broad modernization, companies in traditional industries will continue to be left behind as new technology pushes to the forefront.
Sure, startups have always been associated with innovation, but there's a new wave of candidates seeking stability and growth opportunities in more established organizations. To attract these startup-minded individuals, you need to revamp your hiring strategies and align them with the demands of the digital revolution.
The pandemic has taught us valuable lessons about the instability of startups. Many of these companies faced significant challenges, while industries like banking, manufacturing, and healthcare proved their resilience by embracing digital transformation. As a recruiter, you have a unique opportunity to showcase how your organization combines stability with innovation—a winning combination that can appeal to top-notch tech professionals.
Bridging the Digital Skills Shortage
And now for the bad news — the digital skills shortage — perhaps one of the most pressing challenges you're facing right now. The demand for skilled tech professionals has skyrocketed, creating a gap that needs to be filled. You're not alone in this struggle; companies across industries are searching high and low for individuals with the right expertise to drive their digital initiatives.
In the United States alone, there are an estimated 700,000 vacancies for cyber skill-enabled jobs. It's no wonder hiring managers are feeling the pinch. This scarcity of skilled professionals could limit innovation, hinder cybersecurity efforts, and impede overall modernization. But there’s a clear solution to this problem. It’s time to get creative and start speaking a language that startup-minded candidates understand so you can effectively compete against Big Tech and other innovative startups that tend to attract tech talent.
Attracting Startup-Minded Candidates
Now, let's get to the juicy part—how to attract those coveted startup-minded candidates. These individuals are passionate about innovation, hungry for growth, and eager to make an impact. But they also crave stability, knowing that their efforts are supported by an established organization.
Traditional industries like banking, manufacturing, and healthcare are stepping up their game by embracing digital transformation. They recognize the need for entrepreneurial minds to infuse fresh ideas into their operations. As a recruiter, you can leverage this convergence of stability and innovation to entice startup-minded candidates. Showcase the exciting projects, the opportunities for career growth, and the chance to contribute to meaningful work—all within the framework of an established company.
The elephant in the room is that many enterprise companies do not offer salaries on par with the Big Tech companies that startup candidates may be attracted to. While this has historically been the case, economic uncertainty and a slate of layoffs has led to decreased hiring in FAANG over the last year. The new tide of compensation conscious hiring in Big Tech might lead to downward pressure on salaries over the coming years, which is good news for frugal enterprise companies.
In this era of rapid technological advancement, embracing the digital revolution is no longer a choice—it's a must for survival and growth. By planning for modernization, cultivating a workforce with digital skills, and tapping into the vast pool of startup-minded talent, you can position your company as a leader in your industry.