Hybrid working (37%) is the most common strategy organisations use to compete for the best technology talent, according to research by International Workplace Group (IWG).
Its survey of 1,015 business leaders at director level and above in the UK and US also found competitive pay (35%) was the second most common strategy organisations use to compete for the best technology talent.
More than three-quarters (78%) of respondents believe organisations offering hybrid working have a clear advantage over those that do not.
Two-thirds (67%) said attracting and retaining top technology talent is more competitive than ever, while 50% reported a shortage of candidates with the right skills.
Nearly three-quarters (72%) felt offering hybrid or flexible working is important to attracting technology talent, rising to 80% among Gen Z and 79% of millennial leaders.
More than two-thirds (68%) recognised that competitive salaries alone are not enough to retain top technology talent. Among technology professionals under the age of 30, work-life balance and flexibility are ranked as the most important aspects of organisational culture (42%), ahead of financial compensation (30%).
Meanwhile, nearly a quarter have appointed technology professionals under the age of 30 into leadership roles earlier than traditional career timelines, with this figure rising to 45% in Gen Z-led organisations.
Mark Dixon, founder and chief executive officer at IWG, said: “The message from leaders, and particularly from younger generations, is clear: employers that do not embed hybrid working into their culture risk losing out in the race for tech talent and accessing the skills they need to remain competitive.”
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