Talent acquisition for SME'S in the tech sector

5 TIPS FOR SME'S TO ATTRACT TECH TALENTS IN 2023

The bottom line: personal relationships and trust in the company, to help the employee develop in the best possible way, are the two most important points in talent acquisition. An article by program manager René Giese.

The bottom line: personal relationships and trust in the company, to help them develop in the best possible way, are the two most important points in talent acquisition. An article by program manager René Giese.

Over the past two years, we have worked with over 150 students in our IoT Talent Program. During their studies, we trained the most motivated applicants in the field of IoT. Through our workshops on topics such as electronics, IoT applications, project management, design thinking and more, we were able to gain deep insights into how tech talents search for their future employers and what criteria they use to select them.

The bottom line: personal relationships and trust in the company to help them develop in the best possible way are the two most important points in talent acquisition. But what does this mean for companies? How can SME’s compete with the salaries of the big ones like BMW, TESLA and Airbus? In the following blog article, I summarized my personal top 5 tips on talent acquisition, including tangible examples that can be implemented immediately, especially by Berlin-based SMEs.

STATUS QUO: TECH TALENT ACQUISITION IN GERMANY

Mid-sized companies in Germany are facing a growing shortage of tech employees, including professionals with skills in the field of Internet of Things (IoT).

Mid-sized companies in Germany are facing a growing shortage of tech employees, including professionals with skills in the field of Internet of Things (IoT).

In fact, estimates suggest that by 2025, there will be a need for over 4.5 million IoT professionals worldwide, making the competition for these candidates particularly fierce.

Despite this shortage, the field of IoT is predicted to generate up to $11.1 trillion in economic value annually by 2025, highlighting the importance of attracting top IoT professionals to your company. This shortage highlights the importance of SMEs in investing in the training and development of their existing staff and seeking out new talents to fill these critical roles.

But mid-sized companies can take proactive steps in talent acquisition to compete with larger companies and attract IoT professionals by following these top five tips.

Source: McKinsey Global Institute analysis, 2017

In fact, estimates suggest that by 2025, there will be a need for over 4.5 million IoT professionals worldwide, making the competition for these candidates particularly fierce.

Despite this shortage, the field of IoT is predicted to generate up to $11.1 trillion in economic value annually by 2025, highlighting the importance of attracting top IoT professionals to your company. This shortage highlights the importance of SMEs in investing in the training and development of their existing staff and seeking out new talents to fill these critical roles.

Source: McKinsey Global Institute analysis, 2017

But mid-sized companies can take proactive steps in talent acquisition to compete with larger companies and attract IoT professionals by following these top five tips.

START DEVELOPING RELATIONSHIPS WITH TALENTS AND POTENTIAL EMPLOYEES EARLY

To attract top talents, mid-sized companies should start the talent acquisition and build relationships with tech professionals while they're still in university.

To attract top talents, mid-sized companies should start the talent acquisition and build relationships with tech professionals while they’re still in university.

Offer internships, sponsor student projects, and attend career fairs to connect with students and showcase your company culture and unique offerings. Building relationships with possible candidates early on can help you stand out from other companies and create a pipeline for your talent acquisition for the future.

In many universities, student initiatives have now been formed in which students work independently on various projects. From my experience, students who get involved while studying, such as in our IoT Talent Program, learn hands-on experience, teamwork, and are more engaged than average. The largest movement is Formula Student. Over 700 teams develop electric and autonomous racing cars around the world and compete against each other in different disciplines. Since all teams rely on sponsors, medium-sized companies in particular can build good relationships. We also sponsor (Most sponsorship packages range from 2,000 € to 50,000 €) the TU Berlin team to identify talents for our IoT Talent Program. Other teams are:

OFFER COMPETITIVE COMPENSATION PACKAGES

Transparency and flexibility are the key for a successful talent acquisition.

Transparency and flexibility are the key for a successful talent acquisition.

Salary is still not the most important factor for many tech professionals when deciding where to work. Mid-sized companies should offer competitive compensation packages that include not only base salary but also benefits like health insurance, personal development opportunities, personal guidance and flexible working hours in the talent acquisition process. Additionally, consider offering performance-based incentives like bonuses or stock options to attract and retain top candidates. The habits from the world of fast-growing startups are naturally familiar to the talents and they also compare their future employers with the options.

INVEST IN TRAINING AND DEVELOPMENT PROGRAMS

Investing in training and development programs can help mid-sized companies attract and retain top talents in the talent acquisition process.

Investing in training and development programs can help mid-sized companies attract and retain top talents in the talent acquisition process.

Providing opportunities for employees to learn new skills and advance in their careers not only benefits the employee but also the company. Offering training and development programs can help attract candidates who are looking for a company that invests in their employees’ growth. 

For our participants in the IoT Talent Program, personal development is naturally at the top of the agenda, and the opportunities these days are many. This starts from personal coaches in the company, to classic further training measures, to online courses. Here are my top tips:

  • Die Leadermacher: Communication for leaders according to the mission statement, leading through questions
  • Think Out Loud: Design thinking and agile working by techies for techies.
  • Coursera: The digital learning platform offers more than 5,400 courses, professional certificates and degrees from top universities and companies.
Learn how to successful talent acquisition works.

BUILD A STRONG EMPLOYER BRAND TO IMPROVE YOUR TALENT ACQUISITION

To attract tech talents, medium-sized companies should focus on building a strong employer brand. This can involve creating a compelling careers page on the company website, showcasing employee testimonials and success stories, and leveraging social media to showcase the company culture and values. By building a strong employer brand, companies can increase their visibility, empower the talent acquisition and appeal to top IoT professionals who are looking for a great place to work.

PARTNER WITH TECH COMMUNITIES AND INNOVATION HUBS

Partnering with tech communities and innovation hubs is another effective way for mid-sized companies to strengthen the talent acquisition.

Partnering with tech communities and innovation hubs is another effective way for mid-sized companies to strengthen the talent acquisition.

These communities and hubs often attract a diverse range of professionals and provide opportunities for networking and collaboration. Companies can partner with these communities and hubs to sponsor events, host workshops, and engage with tech talents. According to a survey by McKinsey & Company, 49% of students in Germany said that they would consider attending an event sponsored by a company they are interested in working for. 

You may have heard of MeetUp, a platform where anyone can post events. This has created great communities such as:

  • Girls In Tech is committed to building the diverse and inclusive tech workforce the world needs. They aim to see every person accepted, confident and valued in tech — just as they are.
  • Autonomous Driving + Robots group: This group is for anyone interested in and intrigued by Autonomous Mobility, Self-Driving Cars (SDC) and Robotics
  • Journey into Product brings product-minded people together to learn about interesting product management topics on a deeper level in a monthly networking event at MotionLab.Berlin.
On our iot program events you can get to know our tech talents and start empowering your talent acquisition.
On our iot program events you can get to know our tech talents and start empowering your talent acquisition.
On our iot program events you can get to know our tech talents and start empowering your talent acquisition.

MY CONCLUSION OF SUCCESSFUL TALENT ACQUISITION IN TECH

talent-acquisition_recruitment-events_iot

In conclusion, mid-sized companies in Germany can compete with larger companies and attract top tech professionals by building relationships with candidates early on. Also offering competitive compensation packages, investing in training and development programs, promoting their company culture, and emphasising their unique offerings in the framework of talent acquisition is very important. With the growing demand for IoT professionals, it’s important to take proactive steps to attract future tech employees and stay competitive in the market. If you want to learn more about cooperation possibilities, talent acquisition and promotion of tech talents, please contact me personally via LinkedIn – Rene Giese – or our contact form.

In conclusion, mid-sized companies in Germany can compete with larger companies and attract top tech professionals by building relationships with candidates early on. Also offering competitive compensation packages, investing in training and development programs, promoting their company culture, and emphasising their unique offerings in the framework of talent acquisition is very important. With the growing demand for IoT professionals, it’s important to take proactive steps to attract future tech employees and stay competitive in the market. If you want to learn more about cooperation possibilities, talent acquisition and promotion of tech talents, please contact me personally via LinkedIn – Rene Giese – or our contact form.