How to Hire STEM Talent in India?
Many companies hire people with skills in the science, technology, engineering and mathematics domains, commonly referred to as STEM, in their companies. This is because technology has penetrated every area of functioning in a company; be it sales, marketing, product development, social media promotion or product designing. According to the Bureau of Labor Statistics STEM talent accounts for the fiercest competition in today’s job market. With so much competition in hiring quality talent, it becomes difficult for companies to attract and retain this talent. Smaller companies and start-ups find it difficult to attract such people when compared to established and multinational ones.
Table of Contents
- Employee value proposition and investing in your talent
- Offer good discovery andexperimentation A-team
- Offer good career design
- Highlight your company’s CSR
- Opportunities for leadership and professional development
- Upgrade skills of current workforce
- Honest and Transparent Policies
- Affiliate with industry associations and educational institutions
The war for STEM talent has led to companies developing an effective strategy to have a strong pipeline for recruiting such talent. Outlined below are ways in which the hiring of such talent can be approached.
Employee value proposition and investing in your talent
Employee value proposition (EVP) includes what an employee delivers to your company and what kind of tangible rewards and recognition the company offers them in return. These rewards can often be in the category of wages, benefits, perks which are both financial and non-financial. You could design your EVP in such a way that it is customized for the STEM position. You could find out what rewards STEM talent values and offer it to them in a customized format like a rewards catalog that they can choose rewards from. Advantages like relocation bonuses, opportunity for ongoing feedback, good leadership challenges and networking opportunities can also be a magnet for such candidates.
Offer good discovery and experimentation
Small companies are unable to compete with giants in offering perks to such STEM talent but they can definitely offer good work culture, fulfilling personal and professional development. They can also offer a good environment for discovery and experimentation which large format companies can never offer. Companies must also offer an engaged workplace that listens to their employees on a frequent basis and this can be an effective tool to retain good STEM talent.
Offer good career design
While perks are good initially, in the long-term, companies must focus on offering employees good special projects and time for innovation built into the working time. This, combined with flexibility of workplace and work timings will be a great offer which will be very hard to turn down.
Highlight your company’s CSR
Most millennials and young people are keen to work for a socially responsible workplace rather than one that works only towards profits. STEM candidates often scan the vision, mission and values statements of companies before accepting offers as to whether they have a focus on a social cause or not. It is often found that should they be convinced about the focus on a company being socially conscious, they will even accept a lower pay from such a company. This is because STEM talent believes that they must use their talent to benefit and bring solutions to people and community. In general, a purpose-driven organization is able to attract and retain top talent and build a great reputation for themselves.
Opportunities for leadership and professional development
Large companies often try to pigeonhole employees into very specific roles and, in such times, very often, much smaller companies are in a better position to offer leadership growth, a range of responsibilities and the room to grow management skills. Learning opportunities and the ability to offer different projects are an attractive option for STEM candidates who often value it more than their compensation or perks.
Upgrade skills of current workforce
STEM is often regarded as something new in traditional workplaces. So it is a smart option to invest in upgrading the existing workforce to learn all about STEM and enhancing their skills. Virtual courses and training programs will not just make employees feel valued but also provide a sense of accomplishment. This will provide opportunities to enhance their technical and computing skills without losing their experience.
Honest and Transparent Policies
Lack of transparency is a cause for attrition in many companies. Organizational transparency and honesty is a great way to draw STEM talent towards you. Good, open and fair policies win over the trust of employees. It has often been seen that employee retention rates go up significantly with transparency in organizations.
Affiliate with industry associations and educational institutions
When you have affiliations with STEM associations, industry groups and higher educational institutions, the partnership will yield a flux of STEM talent that will cater to industry needs. The right partnerships will allow skilling of your workforce and for the educational institutions, it will mean having industry leaders providing real-time experience and practical knowledge to students. This is an excellent way to connect companies with STEM talent.
With businesses shifting to automation, there is a high demand for STEM talent in the market. Rapid digitization and technological evolution are requiring employers to redesign everything starting from recruitment to organizational policies. It is therefore a smart idea to study the needs of STEM professionals and plan HR policies accordingly. The ideas discussed in this article will aid you to hire and retain STEM talent and upskill your existing experienced workforce.
Visit Xpheno to find great job opportunities for STEM talent in India. We are a staffing firm that aids various high-growth sectors like Fintech, Agritech, Edtech, Logistics, Pharma and D2C in their journey to scale. Through that process, we aim to organize opportunities for skilled and unskilled Indian talent.