Are your financial offers competitive enough?

Are your financial offers competitive enough?

 Once upon a time, back in my student days, I read this somewhere – everything that happens once may never happen again. But everything that happens twice, it will surely happen the third time. In this post, I’ll share what happened to us more than twice. One of our candidates accepted a competitive offer in a new company. After completing the exit interview, he got offered the same conditions at his current job and decided to stay.

You might be thinking – what’s the big deal, you might do the same?

But I wonder – are we witnessing an emergence of a new trend? That it’s enough to bring a better offer to one’s company and get an instant salary increase?

Not so long ago people changed jobs because, first and foremost, they did not want to work for the same company any longer – they grew tired of the ‘same old’ or it simply wasn’t challenging enough anymore. They longed for a little bit more freedom, a different piece of the sky in which to spread their wings. And somewhere in that, a better salary would come along.

Today, the situation seems to be different. In a lot of IT companies, the work environment is cool (to use the millennial term) – or in other words, the work conditions are good and improving constantly. With above average work environments, one thing that can always be improved upon in Serbia is the size of the salary. IT professionals who want more than that are already working or planning to move to work abroad.

For some years, companies have invested their HR budgets into designing better work environments and non-material rewards. The IT industry has been very successful in this. Programmers, especially those in senior positions, are satisfied with the non-material factors at their jobs – from the amount of free time to team expertise to the recognition they receive from their superiors as well as from their colleagues. Nearly 70% of senior programmers told us that their efforts and accomplishments are appreciated at work and that their ideas and suggestions get regularly implemented.

With the employee mobility and demand for qualified IT staff at an all-time high, the deciding factor in this situation is once again – salary amount.  With similar work environments, projects and technologies on the job market, for a company to become competitive in their offer, financial package seems to be a key factor to attract – and retain – top candidates.

Is this an emerging trend? Practice suggests so. Lately, the questions our clients ask most often are – How much should we offer? What exactly counts as a competitive salary for IT today?

Our research team tried to do everything to find out. We have designed a survey which answers this and similar questions  –  by participating, you will get access to a detailed analysis of IT salaries and benefits in Serbia, as well as see how well your company ranks when it comes to offering competitive packages in the Serbian Software Development sector. You can learn more here.