Thursday, March 17, 2011

High-tech talent war heats up for executives

By Galen Moore

C-level executives at high-tech companies say they are getting more offers, and richer, from recruiters trying to woo them away from their current posts, according to a survey released today by Polachi Inc.

The Framingham-based executive search firm reported a survey of executives in tech, clean tech, private equity and VC companies, in which 78 percent said they get more offers now from headhunters than they did one year ago. For some, those offers are getting sweeter: 90 percent reported compensation offers are the same or better than they were last year; and 42 percent said companies are offering more in the way of bonuses.

Talent has become the key pinch point for high-tech companies fueled by venture capital, looking to grow fast. Boston venture-backed companies are turning to increasingly bolder tactics to recruit top engineers, as their West-Coast counterparts enter well-publicized bidding wars to woo or keep their best minds. 

Half the executives surveyed by Polachi said they’ve been approached by companies asking them to relocate. Nearly 38 percent of executives said they view Silicon Valley, Calif. as the hottest market; New England was the runner-up, with 34 percent saying the best opportunities are here. Just 14 percent said good opportunities are available for high-tech executives in the New York Metro area.