Nearly two thirds (63%) of UK based tech developers have reported that they would accept a reduced salary from their current or potential employer if they were offered the chance to contribute to the wider business, according to new independent research.
The research, conducted by Sapio Research on behalf of London based talent acquisition platform, Talent Deck, found that almost a quarter of developers (23%) would be willing to take as much as a 14% pay reduction to be more involved in a business beyond their basic job role. While nearly one in five would take a reduced salary in return for free food and drink at work.
It is younger workers who are leading the change in attitude, with 67% of 18-24 year olds and 73% of 25-34 year olds reporting they would take less money for the chance to be more involved in business decisions.
Carl Sautereau, Co-Founder and Chief Operating Officer of Talent Deck, said:
“The results show that the UK tech sector is undergoing a significant shift in the developer workforce as priorities evolve and the next generation of developers enter the workplace.
“This younger workforce is a generation which doesn’t view a higher salary in the same regard as their older counterparts, and businesses now face a real challenge matching this group’s expectations with their employee offering.”
The research report revealed the danger UK businesses face if they fail to meet the expectations of developers, with 53% admitting to leaving a job in the past, just because the company culture didn’t feel right.
“Company culture, the work environment, career prospects, and the opportunity to progress quickly are now much more important to developers than they were in the past and businesses need to grasp this new reality if they are to attract and retain the best tech talent.”
A further 47% of UK developers said they had turned down a job because they didn’t think the culture was right for them.
UK developers are not afraid to leave a job quickly if they feel it is not meeting the expectations set during recruitment, with 42% reporting they left a new job within the first month as a result of a poor company culture.
While it is younger workers who have developed a reputation for ‘job hopping’, this research has found that older workers are just as likely to move on quickly if a job doesn’t meet their expectations with 29% of 45-54 year olds reporting they have left a job within the first month, compared to 31% of 18-24 year olds.
“The cost of failing to promote a positive company culture, or failing to recognise what is important to your workforce could be extremely high for a business. The UK tech sector is very much a candidate’s market because of the skills gap that exists in the workforce.”
“Businesses need to be doing everything they can to attract the best talent, and this includes recognising what is important to the workforce and promoting and matching those expectations within the business.”
Top five reasons UK tech developers would take a pay reduction
- Access to a profit share scheme – 67%
- Opportunity to contribute to the business in a wider context – 63%
- Free food and drink – 59%
- A flexible work environment (hours worked, dress code etc) – 58%
- Better career development opportunities – 58%