Dive Brief:
- Tech companies are turning to voluntary relocation to attract tech talent. This little-mentioned recruiting strategy allows current employees to transfer to other offices and entices new hires to move for a job, according to an Indeed study.
- Although tech employers account for 10% of the nation's jobs, 86% of recruiters and hiring managers still have trouble filling tech openings. Research by the Indeed Hiring Lab found that although Silicon Valley remains the principle tech corridor, tech hubs are popping up in other parts of the country, such as Washington. D.C., Raleigh, North Carolina, and Baltimore.
- About 65% of tech workers are willing to relocate for better career opportunities. One-third want a lower cost of living, 44% have a desire for a change and 40% want a fresh start, according to Indeed's survey of 1,000 U.S. tech workers.
Dive Insight:
The massive expansion in tech hubs is creating more locations for tech employees to work and more tech jobs for employers to fill. As a result, employers have more locations from which to source talent as well as more opportunities to settle workers where they would be happiest.
Indeed's poll also showed that relocating wasn't new for tech workers; more than half, 57%, said they've previously moved for a new job, while 80% said they thought about moving for a job at some point.
Offering candidates an option like voluntary relocation could give employers somewhat of a competitive recruiting advantage.
In a recent Robert Half poll, 62% of respondents said they would relocate for a job opportunity. But a 2018 survey by Challenger, Gray & Christmas, Inc. found that fewer workers were willing to relocate for a new job, largely over uncertainty about the economy, and only 10% actually moved in 2017 and 2018.
Interest in relocation may rely heavily on industry and projected income; tech jobs are traditionally highly paid and inherently more flexible.
But as Indeed pointed out, voluntary relocation can be a highly effective retention tool. Employees picking where they work can assist retention. Widening employment prospects beyond the traditional hubs could provide employers with a happier workforce — especially as unexpected cities continue to land high on best places to work lists.
Remote work is a valuable option for companies that can offer it, as it offers flexibility in finding talent and provides workers with the work-life balance they desire.
