“You get what you pay for” is a commonly held philosophy, but does it hold true when it comes to IT staffing? Is it possible to offer a compensation package that attracts the best talent without negatively impacting your bottom line? How do you know what is a reasonable rate of pay?
Benchmark Salaries: Keeping up with what constitutes a competitive salary has gotten more difficult. In order to be accurate, tech salaries must be benchmarked every few months. The tech industry changes so quickly that salary data is almost instantly outdated. Salary ranges vary by location and skill set. The more programming languages or other areas of expertise a candidate has, the higher his salary expectations will be. Understand what competitors are paying and meet or exceed it to win over the best people.
Redefine Compensation: Compensation can be much more than what appears on the bottom line of your paycheck. IT talent knows this. Offer them other forms of compensation to remain competitive in the marketplace:
- Additional time off
- Training & education reimbursement
- Performance bonuses
Pay for Performance IT people tend to be results driven. If you offer flexible hours and pay them based on production they are likely to feel well compensated. This allows techs to work late at night or binge-work if they prefer, rather than being expected to punch in from nine-to-five to appear productive.
Offering competitive salaries and thinking creatively about what compensation really means can help you to attract and retain the top talent that will make your business more profitable in the long run. If you need help finding top IT talent in South Florida, CERS can help. Our vast candidate network offers some of the most in-demand professionals in the area. We match talent to requirements, enabling you to find the exact talent you need faster and more efficiently. With our industry expertise, we can help you negotiate a compensation plan that will make both you and your potential new hire happy. Contact us today to get started.