Tech talent shortage. It might sound scary, right? But this is nothing new and it’s been around for quite some time now.
In fact, as the demand for tech professionals in Portugal continues to rise, companies are struggling to find the most suitable candidates to fill their needs. And having to recruit within a limited pool of talent while also dealing with the competition from big companies worldwide is not helping out. Yes, it can be challenging. But no one said it’s impossible.
Since we want to be your closest ally – yes! – we (also) got your back on this one. Here’s a comprehensive guide that will help you understand why this tech talent shortage is in Portugal and (most importantly) provide you with the strategies to fully overcome this talent shortage and get the best of the best.
Tech talent shortage in Portugal: catch them while you can
“One way or another, I’m gonna find ya, I’m gonna get ya, get ya, get ya, get ya; One way or another I’m gonna win ya, I’m gonna get ya, get ya, get ya, get ya…”
If this sounds familiar to you, you probably heard it in the amazing voice of Debbie Harry, from Blondie. (And bear with us on this) If you just give it a thought, it couldn’t be more suitable for the case.
There’s no denying that the job market is increasingly competitive, and consequently, finding the most skilled professionals and the right talent is (to say the least) challenging. Companies are now (almost) chasing candidates to make sure they get to them.
First, we must understand that Portugal is not the only country facing a tech talent shortage. With remote work becoming increasingly popular, companies all over the world can now hire top talent regardless of their location, which leads to strong competition from international companies, now more than ever. This means that IT professionals in Portugal are constantly being scouted by companies from other countries, making it harder for Portuguese companies to retain their talent.
And if this is not enough, one must also consider the number of companies establishing in Portugal, saturating and monopolizing the market, given that these companies often offer higher salaries, better benefits, and the opportunity to work on exciting projects, making them an attractive option for IT professionals.
This, together with the fact the high demand for tech professionals is considerably surpassing the offer (fewer existent candidates than those needed), leaves little room for manoeuvring. With more companies hiring IT talent than IT professionals graduating or already existing in the market, there’s a supply and demand issue, with companies competing for a limited pool of talent, subsequently leading to higher salaries and benefits for IT professionals.
Tech talent shortage in Portugal: a guide to be on the other side of the force
So, how can you overcome this tech talent shortage in Portugal and make sure you reach the best hires for your company?!
There are ways to do so. Knowing that tech professionals are in high demand and that the competition to hire the best talent is fiercer than ever, you – wanting to overcome this tech talent shortage and still get to the best – need to take the matter into hands. Luckily, you can do a few key things to overcome this. To start with, as we mentioned in our previous article, to make sure you subsist on the IT recruiting market in Portugal you must focus on a robust recruiting strategy— such as a data-driven approach to find the right talent and/or create an employee referral program, just to name a few examples.
From here, you have to dive deeper. Here’s how:
1. Aim to attract international talent and partner with the right “helper”
Yes, aim higher. If you’re not able to find what you need locally, you must consider going out and going across borders and looking for the most suitable candidates for your needs.
No, we’re not telling you to travel outside the country to search for possible candidates. But we are telling you to look in the right place. Using a specialized recruitment agency, such as Landing.Jobs, is the right move. Through Landing.Jobs, you will have access to a +200K network of candidates (both national and international). Plus, they can cover all the tech specs you might be looking out for a candidate. You need it, you name, they got it.
2. Invest in employer branding
Your employer brand is your company’s reputation as an employer. To attract the best talent, you need to be perceived as a strong employer (in terms of culture, values, benefits, and work environment). This can be done in multiple ways: through the company website and social media pages, by showcasing employee testimonials, and/or by taking part in industry events and job fairs.
3. Offer competitive salaries and benefits
In the current market, competitive salaries and benefits (such as health insurance, flexible work arrangements, and professional development opportunities) are quite important for candidates and might be decisive when considering applying for and/or accepting jobs. So, if you want to attract and retain skilled IT professionals – especially in this tech talent shortage – this is something to be considered.
On this note, you can start by reading the Global Tech Talent Trends report published by Landing.Jobs, where you can find a comprehensive overview of the tech market.
For context, the report includes data from professionals around the world and considered several topics (namely Demographics, Professional Roles and Tech, Remote and Global Work, Career Management and Salary & Perks) and gathered some valuable information on how professionals are now looking for jobs. Based on the collected data you can understand how professionals are now making decisions concerning their careers. In addition, companies can find important information to position themselves on the market and get to the best of the best.
Just so you have an idea, 19,7% of the inquired professionals mentioned health benefits as one of the most sought job perks, followed by the annual bonus (18,2%). Training sponsorship, computer and equipment allowance comes next, but stock options are fifth “showing an interesting evolution of tech professionals regarding possible long-term benefits”. Paid/extra vacations, flexible work schedule and team building are also mentioned in the report.
So, to stay ahead, make sure to research industry standards and ensure that the compensation package is in line with market rates.
4. Invest in training and development opportunities
Being able to have access to learning/training and development opportunities is a must-have when considering attracting and retaining talent. This is crucial for professionals’ career growth and job satisfaction, and therefore, providing these opportunities can also help retain employees in the long term. Plus, offering learning and development opportunities benefits the employee and the company, leading to a more skilled and motivated workforce. This can include providing access to training programs, conferences, and workshops.
5. Embrace (even more) remote work
Remote work is now a reality. And many IT professionals value the flexibility it offers. Companies that embrace remote work can attract and retain top talent who prefer to work from home or anywhere in the world. It also expands the talent pool for companies, as they can hire employees from anywhere in the world.
6. Provide the latest emerging technologies
In addition, pump it up by providing the latest technologies. The most skilled professionals (especially techies) will value this. This can include investing in new technologies and tools, offering opportunities to work on cutting-edge projects, and promoting innovation and creativity.
7. Foster a diverse and inclusive work environment
Diversity and inclusion are not only ethical imperatives but also critical for business success. Creating a diverse and inclusive work environment can help attract and retain IT professionals from a wide range of backgrounds and experiences. This can include establishing diversity and inclusion programs, promoting diversity in hiring practices, and creating a culture of belonging and respect. Not to mention that this might help you to attract a wider pool of talent and retain employees from underrepresented groups.
8. Partner with universities and tech schools
If there’s a tech talent shortage, you must go straight to the source. By partnering with universities and tech schools, you’ll have access to a fresh pool of talent while bridging the skills gap. Companies can provide students with internships, mentorship, and job opportunities, helping them gain practical experience and develop their skills. This partnership can also help companies build relationships with academic institutions, making it easier to recruit graduates.
Beat the tech talent shortage in Portugal…
Summing up: yes, the tech talent shortage is a significant challenge faced by companies in Portugal. Nonetheless, you can beat it if provided with the right strategies.
And, as per usual, you don’t have to deal with it alone. As we already said before: we got you. For starters, we have the talent you are looking for.
But there is more. If you are looking to recruit through an Employer of Record (EOR) or a Recruitment Process Outsourcing (RPO) we can help you out with these as well. At Landing.Jobs we’re both EOR and RPO providers, helping companies handle their hiring needs. If any of these is a good fit for your need, just reach out to us.
For further information, check everything you need to know here!