With all that 2020 has brought, and understanding we’ll be living with the after-effects for some time, companies now understand the importance of digital transformation. The crisis has intensified and will continue to accelerate forces in the tech industry that were already gathering steam. No matter where they were on their journey at the start of 2020, this is an opportunity for organizations to shape trends and most have now stepped on the gas pedal, realizing that their ability to innovate and digitize will be one of the determining factors of how they succeed in the future.
Consider what we have already seen since the onset of the pandemic. Companies have adopted new flexible working policies at lightning speed and sent many of us home to do our work. We have our business and personal discussions over video conference, our kids are going to school online and we see our doctors and therapists using telemedicine.
According to a recent study, a majority of companies who experienced financial growth since the beginning of the pandemic are able to adapt to changing customer needs “very quickly”. This includes the customer experience (CX) trend in the new normal where 80% of these successful organizations are increasing online interactions with their customers since COVID-19.
And who do they turn to for help in this new normal? Why, it’s the high-tech companies! Whether it’s the data scientists, app developers, SaaS providers, implementation consultants, process engineers, or UX design, all are feeling the pressure to meet the demands of companies looking to rapidly change their digital footprint to improve both the customer and employee experience. The pressure is on and the impact is great.
Are you a tech company looking for guidance on how to ensure you can source and retain the talent you need? Need to understand how to right shore your talent pool? Read on for several tips and tools you need now to ensure you have the resources to meet the needs of your clients and customers.
Don’t let this opportunity pass you by!
With the rapid pace of change, tech companies are being forced to react more quickly than ever before – almost before organizations even know what they need. In order to do this, they need to attract and engage not only top tech talent but industry experts that can guide the design of custom solutions to delight their clients.
Additionally, tech companies are having to scrutinize how they operate. What roles and work should be handled locally versus offshore? What challenges will right-shoring create, and is it worth it for the savings realized? Operating efficiently, and with excellence, is the name of the game for tech companies racing to deliver the next ‘big thing’. Having a solid grasp on the size, shape, and productivity of their workforce is critical to understanding how to compete and maximize profitability.
To add to these pressures, understanding global regulatory and statutory information across the globe, and the desire to maximize profitability is of utmost importance to technology firms.
Tools for the tech world today
One of the most significant keys to thriving in today’s challenging environment is to have a source of reliable data.
Starting with pay data – tech companies need to know how to pay competitively in the markets where they are searching for talent, without overpaying. Additionally, understanding what their competitors are offering for incentives and other rewards beyond base pay will allow them to develop a customized reward strategy that will meet their needs. By having a source of reliable pay data, from a reputable firm that can provide additional guidance and support as necessary, you will be able to confidently make offers to top talent and know you can engage them for the long-term.
For global data – pay data, regulatory and statutory information, and even pay practices – finding a comprehensive source that will give you access to a reliable stream of information across the globe is paramount. The amount of time that many employers will spend scanning the internet, contacting various country experts, and scouring country publications will lead to one thing…frustration. Many organizations, particularly the HR people that are often charged with the task, will simply end up resigned to the fact that they just can’t know everything. Unfortunately, that leads to the company taking risk – risks that could be devastating to your success.
How well do you feel you are equipped? Do you feel like you’ve secured your reliable, efficient data sources?
Let Mercer help
As we celebrate our 75th year, in what will forever be a year etched into our memories, no other firm is better positioned to help you at this time.
In addition to our trusted traditional salary surveys that cover over 140 countries, more than 35,000 organizations, over 300,000 jobs and well over 15 million employees, our Mercer | Comptryx tool is a technology focused workforce metrics powerhouse. With Comptryx you go beyond pay data. The powerful data and analytics tools allow you to compare your workforce costs globally, analyze factors that drive costs, and compare potential locations around the world. Though always growing, Comptryx currently includes pay data and workforce metrics in over 100 countries.
But what about the rest of the information you need to compete? Don’t worry, we’ve got that too.
Our Talent All Access Portal (TAAP) is your one stop shop for ALL of Mercer’s global publications. You’ll have one source for all regulations, workforce practices, challenges to consider – everything you need to manage a global workforce. In addition, TAAP gives you online tools for insights such as the statutory landscape for international locations, global benefits offerings by location, as well as economic, labor and pay trends by market.
Are you intrigued? For a limited time you can take care of a bundle price for Mercer|Comptryx and TAAP. What are you waiting for? Contact us today.
About the author
Principal and Mid-Atlantic Career Products Market Leader
Rob is Mercer’s Career Products Market Leader for the Mid-Atlantic Market. In this role, he harnesses the depth of Mercer’s consulting expertise, information and technology to deliver solutions that help clients prepare for the future of work – with a specific focus on Workforce Metrics, Total Rewards, Employee Engagement and Talent Mobility. Innovative and strategic, he applies business knowledge to align talent strategies with larger business objectives that drive measurable results.