Hiring Managers Rediscover That Money Talks

According to a new Dice survey, money talks when it comes to hiring.

The
survey of 1,350 employers and recruiters found that, in the last three months, nearly one third have had to return
to the bargaining table with additional incentives if they wanted to lure candidates away
from their current positions. Money is the tool of
choice with 66 percent offering higher salaries, salary sweeteners, and signing
bonuses. The other 34 percent are trying grab bag of incentives such as a
flexible schedules, opportunities to work on new technologies, job titles,
education, and stock options.

Does
the additional money cause a rift among the candidate and the new
team? So far, the answer’s no. But in a preemptive strike, 25 percent
of hiring managers have revisited current employees’ salaries to keep them in line
with newly hired talent.

Hiring
managers should be warned that a shrinking pool of qualified talent means their
employees may be hearing from others very soon. According to Tom Silver,
our senior vice president, “There’s no sugar coating this. If
the right career move is available, tech
professionals are ready for their own lucrative deal.”

– Dino Londis

 

Comments

  1. BY Wall Street IT Guy says:

    After three years of giving out no raises or bonuses, managers of current employees should be scared, very scared. The amount of pent-up dissatisfaction among their staff means that they better get ready not to just counter-offer with more, but to counter-offer with more PLUS additional cash to make up for three years of being stingy mofos.

    The exodus has begun, cheap managers. To mix metaphors, I say you will reap what you sow and shall inherit the wind (empty cubes, blown deadlines, unstable servers, and clueless new hires).

  2. BY Wall Street IT Guy says:

    After three years of giving out no raises or bonuses, managers of current employees should be scared, very scared. The amount of pent-up dissatisfaction among their staff means that they better get ready not to just counter-offer with more, but to counter-offer with more PLUS additional cash to make up for three years of being stingy mofos.

    The exodus has begun, cheap managers. To mix metaphors, I say you will reap what you sow and shall inherit the wind (empty cubes, blown deadlines, unstable servers, and clueless new hires).

  3. BY An Observer says:

    At my company, we’re already seeing the exodus. Our IT department requires, REQUIRES at least 40 hours in the office even though we have a very robust remote access infrastructure. Telecommuting is only allowed after hours or on weekends. Finish your work early? Well….we’ll give you more. Want to work from home today? No….you must take PTO.

    It’s beyond ridiculous and people are quite frustrated with the policy. Add to that discontent from lower wages and it’s just not looking good. I suspect massive defections by Jan 1.

  4. BY An Observer says:

    At my company, we’re already seeing the exodus. Our IT department requires, REQUIRES at least 40 hours in the office even though we have a very robust remote access infrastructure. Telecommuting is only allowed after hours or on weekends. Finish your work early? Well….we’ll give you more. Want to work from home today? No….you must take PTO.

    It’s beyond ridiculous and people are quite frustrated with the policy. Add to that discontent from lower wages and it’s just not looking good. I suspect massive defections by Jan 1.

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