It goes without saying that the global talent shortage has had a significant impact on the recruitment strategies of the semiconductor industry’s employers. From startups that supply the industry through to multinationals that dominate the market, finding and keeping a hold of talent was already a difficult task. And then along came the global pandemic that threw the industry the curviest or all curve balls.
Sure, the global pandemic taught us many things about how we work. But it also taught us that the recruitment industry is more candidate-centric than ever before. Of course, this is a good thing for employees and employers alike as happier teams produce better results.
However, it means that attracting top talent in the semiconductor industry has never been more difficult. Employers have had to adapt in ways that they never thought possible while recruiters have built new strategies from scratch.
During the past couple of years, Software Placements has been asked on many occasions to help our clients realign their recruitment strategies to ensure they have a talent pool brimming with suitable candidates. Here’s what we told them.
Strengthen Your Employer Brand
For the past decade or so, employer branding has become an increasingly important aspect of talent acquisition. Not only does the best talent want to be employed by the best employers, they want to be treated in the best possible way too.
We’ve all heard the horror stories of talented individuals working their proverbial socks off at some major multinational that everyone wants to work for. Yet despite all their efforts and hard work, they feel underappreciated. No one wants to be the main character in that kind of story and so it’s your job as an employer to make it crystal clear to any potential employees that everyone who works within your organisation is valued.
This can be as simple as celebrating wins via social media and giving credit where it's due. Showing support for innovative thinking and championing your employees’ skills and accomplishments will not only encourage the industry’s top talent to apply for a role in your company but also work wonders on your employee retention rates.
Rethink Compensation and Benefits
The days when a fat paycheck would seal the deal are long gone. Instead, the modern-day candidate wants security, additional non-monetary benefits, and the opportunity for career progression (more on that later).
One of the things that pandemic taught us was that remote work was not only possible but beneficial in terms of both productivity and personal happiness. People realised that working from home or remotely was a benefit that they wanted even if it was just for a couple of days of the week.
So instead of simply offering the standard salary range for a role, think about the additional benefits that could be added to the package that won’t necessarily cost the company more but will make the position more attractive.
Create a Strong Talent Pipeline
A strong talent pipeline is the cornerstone of in-house recruitment particularly for larger companies with higher turnover of staff. But it’s also a good idea for smaller companies too. Creating this pipeline means that you have an open channel that produces talent that is suitable for your needs.
To do this, an employer can establish relationships with universities and colleges that offer qualifications that are suited to the semiconductor industry. They might even sponsor research projects, offer internships and graduate programs to get early access to the highest achievers.
Actively Source Candidates
This is a strategy that is highly advised at all times. Don't wait for candidates to come to you, instead find them and establish meaningful connections with them. Remember, the best candidates out there are often passive candidates so it makes absolute sense to get in touch with people who are seemingly happy in their current roles.
You never know when that may change and if an employer or in-house recruiter has already established a connection with them, the talent is much more likely to be open to a new challenge.
Get Referrals from Employees
It’s a super simple strategy but one that many employers fail to take advantage of. Your existing team members can be one of the best resources when it comes to sourcing potential candidates. And we’re not talking about friends and family. People who work in the semiconductor industry know other people who work in the semiconductor industry — it’s the same with any industry. Whether it’s ex-colleagues or people they have met at industry events, these are people that your employees can possibly vouch for. Not taking advantage of this resource is like leaving money on the table; you just don’t do it.
Offer Clear Development Opportunities
The semiconductor industry is constantly evolving, and people that work in the field not only need to keep their skills up to date but also need to be able to meet new challenges head on. Offering opportunities to develop those skills and in turn improve their career progression can be a wonderfully attractive benefit for talented individuals that like to push themselves. And let’s face it, the best talent is always looking to improve their skills.
Broaden your Horizons
Some employers tend to focus a little too much on the local talent pool and if you’re based in Ireland that can, at times, be quite a shallow pool. This is why we recommend that all employers broaden their horizons and think of the talent pool as a global one or at the very least a continental one. Think about how you can make your company and any available positions more attractive to candidates from outside the country. For example, help with relocation or assistance with visas.
But broadening your horizons isn’t just about thinking of non-local talent. It’s also about embracing diversity and inclusion in the local market. This could be as simple as making it clear that your workplace is accessible for those with physical disabilities or showing through your employer branding that you are a multicultural organisation.
Remember, recruitment is not just about filling a vacancy. It's about finding the right people who can not only handle the work but can improve your organisation for the better. If you’re hitting a brick wall in your talent search and need a fresh approach, get in touch with Software Placements and let’s talk about your strategies for recruitment success.