The Scary Truth About Employee Retention

The-Scary-Truth-About-Employee-Retention

The tech shortage in the United States makes it easy to blame shortages in your office on a national trend. Unfortunately, this isn’t the trend you should be worried about. The scary truth is employee retention is likely your real issue.

A recent turnover study by LinkedIn found the tech sector at the top of every other area when it came to turnover with the highest rate of 13.2 percent. Most companies don’t retain their top tech employees for more than one year.

If you notice your company turnover rates mirror the national averages, you’re in good company. Both Amazon and Google have averages around one year before an employee decides to leave. When you consider it takes an average of more than 50 days to fill your IT openings, it might be time to rethink your retention strategies.    

Create career goals

Knowing that many IT professionals leave their jobs to find opportunities to learn more skills, you could consider mapping out career paths with your new hire. Find out where they want to go in their career and show them how it can be achieved at your company.

Beyond the initial plan, follow up regularly with meetings to see how everything is going and readjust where necessary. This investment in their growth may inspire new loyalty in your tech employees and cause them to stay longer.

Keep it inclusive

If your culture still functions with exclusive groups or attitudes of superiority, it’s time to revamp your environment. All your employees should feel equal and valued at their place of work. Avoiding these issues can allow your culture to be more inclusive and welcoming, creating a safe space where your team wants to work.

Consider different perks

Depending on your company size, you might not be able to compete with larger company’s salaries. Instead, you can look at the perk offerings that work at tech companies with higher retention rates. Suggestions include gym memberships, commuter stipends, free food, student debt assistance, tuition reimbursement, unlimited vacation and extended family leave.

What IT Talent shortage?

Trends indicate a national shortage, but we’re here to help make your life easier. Smoothstack delivers a sustainable supply of IT professionals who are highly qualified and motivated. Our future-forward approach cultivates in-demand skills without the expense of in-house training or the frustrations of traditional staffing models. Simply put, we deliver the talent that’s ready to thrive in your environment. Learn more about Smoothstack’s services today!

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