This article originally appeared on HBR.org
Right now companies are having a tough time finding, hiring, and keeping the top technical talent they need to keep their businesses running and growing. Employers used to think that appropriate pay was enough, but that’s changed: To attract and keep talented people, companies need to understand how their priorities have shifted—and be able to offer people what they’re really looking for.
To shed light on why top tech talent stay in a job or choose to move on, Bain surveyed more than 500 tech employees and 230 enterprise technology organizations globally.
The survey delivered three important insights. First, the problem is very real: only 13% of these employers said they are able to hire and keep the tech talent they need most. Second, workers make employment decisions on much more than compensation alone. Finally, we learned that there can be a striking difference between the factors that influence a decision to join a company and those that determine how long a tech employee stays there.
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