Data is widely regarded as ‘the new currency’ of the digital world with more and more companies looking to tap into the wealth of insights it can provide. Money is also top of mind for those candidates who analyse the numbers.
Salary and compensation is the number one driver of attraction for data science and analytics candidates. In addition to salary, benefits such as income protection or health insurance and equity in the business are desirable.
Career development opportunities rank second among candidates in this industry who look favourably on employers who offer in-house training, mentoring or sponsored study.
A desire for work-life balance also plays a key role in the choice of employers. Candidates in data science and analytics value opportunities to negotiate their leave, such as buying or taking unpaid leave. A rostered work schedule that offers two weeks on and one week off, for example, is also seen as helping candidates achieve a balance.
Candidates in data science and analytics are also attracted to large industry leaders or ASX-listed companies that demonstrate respect and professionalism. Company reputation also plays a role in their employment choices and global organisations with a clear purpose for good are likely to stand out to talent in this industry.
“Data science and analytics professionals tend to think deeply and contextualise their work within the overall strategy of an organisation. They need to understand and appreciate the corporate objectives and social policies and want to know that their work is having a positive impact. A respectful and fulfilling environment with constant engagement and communication is key.” - Lee Humphrey, General Manager Search – Australasia, Korn Ferry Futurestep
As roles tend to be office based, data science and analytics candidates are also driven by a desire for a positive workplace.
The proliferation of data is giving organisations unprecedented opportunities to gain deep market insights but they require the best scientists and analysts to unlock the value. The right mix of salary and compensation, career development and work-life balance opportunities will help attract their attention.
There are fewer younger millennials (aged 18 – 24 years) in data science and analytics compared to the total sample group (6% versus 11%). However, there are more migrants to Australia in this industry (40% versus 33% total group). This may help explain why 46% speak a second language compared to 30% of the total group.
About this research: The data points referred to on this page are drawn from the SEEK Laws of Attraction survey. For more information about the SEEK Laws of Attraction survey and the terms and conditions governing the use of this data, click here.