Developers have a lot of job options. With tools like our new Salary Calculator at their disposal, they have plenty of information to help them make better career decisions. That might sound intimidating, but you can also use the insights from developer salary data to increase your ability to recruit them.
Still not sure where to begin? This post will show you three ways to apply this knowledge and make meaningful changes to your recruiting strategy.
It’s worth repeating that the cost of losing a developer is high. When you find salary data that suggests that your developers could be making more elsewhere, it’s obvious that you need to review your current team’s compensation and make adjustments if necessary.
Of course, you can’t give everyone a raise at the drop of a hat. But you can be the person at your company who starts the conversation. Start by meeting with your engineering managers to review your findings, and ask some tough questions. How far below market value are you paying developers? Is your company in a strong position to make adjustments in the near-term? If not, what are your biggest roadblocks?
No matter what the answers are for you, be honest with your engineering team. This level of openness is just as important to your current developers as it is to potential candidates.
It Should Give You Insight Into Why Previous Candidates Declined Your Job Offers
Have you ever missed out on a great developer because that person accepted a generous salary at another company? Before you say yes, ask yourself if that’s what the candidate told you—or if it was just an assumption you made.
All too often, employers expect to find out that they’re underpaying developers when they review salary data. But before you jump to any conclusions, take a closer look at those salary trends. You might find that your developer salaries aren’t the reason you’re struggling to close the deal.
Dig deeper to find other reasons you’re losing candidates. Does your company offer opportunities for professional development? Are you communicating the impact that they’ll have? Remember, developers want to be paid fairly—but they consider plenty of other factors before accepting a job.
Salary transparency is only beneficial to companies who can pay top dollar, right? Well, not always. In a recent experiment, we learned that job listings with salary information get 60-75% more clicks, even when the amount is relatively low.
Companies that are open about compensation put themselves in a stronger position to generate more developer applications. Whether you’re writing a recruiting email or posting a job, don’t be shy about sharing salary details. Even if you can’t afford to pay market value, it’s a competitive disadvantage not to disclose your range early in the recruiting process.