31 Jan Four Ways To Compete For Tech Talent From Beyond Silicon Valley
The rise of multiple new American tech hubs is imminent. According to KPMG International, nearly 60% of tech industry leaders believe a new American city will eclipse Silicon Valley as the tech hot spot in the coming years. Additionally, 46% of San Francisco Bay Area residents plan to move in the next few years, per the Bay Area Council.
In spite of the much-discussed tech talent shortage, Silicon Valley still has a remarkable ability to recruit tech workers. According to Indeed, San Jose, California, had the highest percentage of tech job postings last year, and San Francisco had the fifth-highest. These cities pose staunch competition in the battle for tech talent, though it’s by no means an unwinnable fight. For companies headquartered outside Silicon Valley, it’s time to double down on luring that talent.
Competing for talent outside Silicon Valley can be tricky, but there are four key things you can do to cajole potential employees to your company and city.
Underscore your city’s cost of living and quality of life.
Your city will inevitably be cheaper than San Francisco, which consistently has one of the highest costs of living in the U.S. This is especially true if you’re anywhere other than the West Coast or East Coast. Cost of living is a major consideration among Generation Z employees — in fact, according to a Nintex survey (via TechRepublic), Gen Z’s economic considerations greatly affect their thinking about employers. Nintex technical evangelist Terry Simpson said, “Gen Z is influenced tremendously by things like student loan debt, housing prices and whether they’ll be able to support themselves and their families.”
In Austin, Texas, where our company is headquartered, the median home price is roughly $400,000, according to the Austin American-Statesman, about $900,000 cheaper than San Francisco ($1.3 million). According to the National Association of Realtors, the median home price in Raleigh, North Carolina, ($280,000) is around $1 million cheaper. Even in Boston, the median price ($650,000) is 50% cheaper, according to RENTCafé (via Boston Agent magazine). These are profoundly important points to underscore in a job posting and interview. They should be among your first selling points to newer, younger tech talent, who likely will be at least considering jobs in Silicon Valley.