Of course! Who loves bouncing from one job to another and perpetually job hunting? Especially if you are highly educated in a sought after engineering field and have great technical skills, you thought you would land your dream job easily. But, according to PayScales’s employee turnover report, the employee attrition rate among the Fortune 500 companies in the IT industry is the highest among all industries surveyed. Marquee tech companies such as Amazon, Google and Mosaic rank in the top 4 with the shortest employee tenure; median tenure of an employee at these companies is only about 1 year. Surprised? Maybe not. if you are in the hi-tech industry, this is not so uncommon. Unpleasant, but not uncommon.
So, the question is, why is the turnover rate so high in hi-tech? Employees are highly qualified and they put in a ton of effort to land a job. Some of the top reasons for this high churn rate is dissatisfaction with supervisor, dissatisfaction with the kind of work, less scope of career advancement, unhappiness with work environment, lower salary. But all of these reasons occur after the candidate accepts an offer and joins the position. So, what drives candidates to accept positions that they end up being unhappy with within a few months? Do these people really enjoy job hopping? Or do they simply not care because there’s such a high demand for them? Not really. Job hopping is tiring and not desirable by most.
The primary culprits causing candidates to accept the wrong job are emotional drivers and overall fatigue with the job search process. With abundant opportunities in the tech industry, candidates are overwhelmed with mismatched opportunities and a ton of spam. Finding a high quality opportunity which truly aligns with their career aspirations is like finding a needle in a haystack. They go through multitude of interviews and before they know fatigue sets in. By the time the offers come in, most candidates have lost sight of their true career goals and take emotional decisions based on higher salary or prestigious titles. Such decisions usually result in high job dissatisfaction quickly.
So how can candidates make the right decision when accepting a job offer? David Pacek suggests in his article, Why You Took the Wrong Job, that a candidate should create a dream profile. Then measure each opportunity and offer against that dream profile without letting any emotional drivers cloud their mind. The candidate should further have a close friend or family member hold them accountable to this dream profile while deciding on offers. While this is a great suggestions, is it enough or even feasible. Job search itself is an emotional process, so how do you turn off your emotions and evaluate every opportunity and offer objectively in a disciplined manner. More than likely, one would fail. Even a close friend or a family member would find it difficult to hold a candidate accountable to their dream profile objectively. They might be influenced by their own emotional drivers. A spouse might want their partner to accept the offer with the higher salary or a friend might want their friend to get the more prestigious title. More likely than not, most people would want to avoid the burden of guilt of unintentionally advising their friend or loved one against accepting a perfectly good job offer.
But, Pacek’s suggestion of creating a dream profile is still gold. The key is to find a way to make it work. This is where CareerBot comes in. CareerBot has candidates create their dream job profile and uses this profile to find high quality job matches. So, candidates see only high quality opportunities that match their dream profile. This works because a chatbot has no emotional drivers and can match each job objectively to the candidates dream profile, every single time without fail. So, instead of a pile of random job opportunities to sort through, the candidate now has few high quality job matches to sort through. Thus, fewer but better quality interviews leading to better job offers without the insane fatigue. As Nirav Saraiya mentions in his article, Talent Agent for Engineers, if a candidate has 5 interviews then why not have all 5 match their dream opportunity and align with their career goals. CareerBot, further tells the candidate who from their contact list can be potential referrers or good informational sources for the companies they are considering. Thus, candidates can take more informed decisions armed with information on work environment, growth path, supervisor reputation etc. CareerBot would also provide the candidate with compensation benchmarks for similar positions in the company as well as the overall industry, so candidates can negotiate a competitive package. So, it seems that as we move to this new technology era, chatbots might really solve the high attrition problem in the tech industry, CareerBot being a pioneer at it. What do you think?
I’m a co-founder of CareerBot, a platform where engineers can find their dream jobs with complete privacy. We aim to build an intelligent career assistant that stays with you even when you’re not job hunting.