Payment and Perks in Silicon Valley do not Meet Employees’ DemandDecember 18, 2015
Silicon Valley, the house of giant tech companies and start-ups, is going to be a larger working scope for many employees in the next year. Existing benefits of the zone is now including some more attractive plusses. It is obviously great news for the job seekers in tech industry, but recruiters are not showing their will to give sufficient payment for service providers. Dice, a tech job website, surveyed on the recruiting scenario of various companies and found a real picture of the present situation. They took interview from a number of hiring managers who have expressed some key facts of their current activities. A number of positive and negative issues have come to the light in the research result.
Good news with some glitches in Silicon Valley
The pleasing part of Dice’s survey includes the news that the coming year is appearing with better opportunities for Silicon Valley personnel. According to the report, 78 percent of interrogated hiring managers state that the number of hired people in the first half of 2016 will be bigger than that of in the last half of 2015. Moreover, 71 percent of companies declare their design to encourage the tech teams providing double-digit percentages or more. They are planning to add free massages five-star meal, and liberal vacation benefits to the typical advantages.
Good news is followed by bad news! Along with all the pleasing facts, many glitches come out through the investigation in Silicon Valley. The study shows that sufficient talents are not found to fill all of the required positions and the applicant’s demand is crossing the salary lines offered by the firms. The major part of these hiring administrators acknowledges that companies’ payment terms are responsible for this critical situation in Silicon Valley. That means proficient persons do not get their deserved payment here and become demotivated to enter the work field. The condition is worse than that of last year. Bob Melk, president of Dice, sees no hope of quick emancipation from this challenging employment market.
Two aspect of the matter have been focused through Dice’s study. Firstly, it shows that the tech industry needs a large number of new staffs and the gold rush is to continue for the far future. Secondly, the investigation is indicating that employees’ expectation might be extremely high. Their demands cross the limit of stock options, six-figure salaries, and prominent rewards including free food, transportation and beer bashes that is mostly offered by the corporations. Many hiring officials are currently facing more counteroffers than they did six months ago. Surveyed recruiters also commented on the key concern of convincing the employee. They put emphasis on sign-on bonuses and moving expenses. Those inducements may be fruitful for this time. Facebook, Google, Apple, and Amazon are top four companies of Silicon Valley, which are still in good condition of recruitment. Their stable and trustworthy payment strategies bring highest success in the present competition. They provide free meals and fertility treatment to the working staffs. The position of these giant enterprises in the share market is also very good. Problems are generally created for the start-ups.