Are you tired of losing top IT and engineering talent to competitors? In today’s job market, where qualified experts are in great demand across all industries, keeping your top talent happy and loyal is critical to the overall success of your organization.
So, where do you start? As an IT and engineering staffing firm in Indianapolis, Theoris has helped many organizations of all sizes and industries find and keep top talent. In this blog, we’ll discuss some of the most effective strategies we’ve learned over the years from companies with high retention rates. Whether you’re looking to boost your retention rates or maintain your competitive edge in the market, keep reading!
One of the most important factors in keeping talented employees around is having a positive business culture. In fact, Glassdoor discovered that 77% of job applicants examine a company’s culture prior to an interview, while MIT Professor Donald Sull’s research revealed that toxic culture was the leading cause of employee turnover.
Employees who feel a sense of belonging and connection to their company are more likely to stay on the job in the long run. Here a just a few ways to improve culture:
One of the most effective ways to retain top talent is to provide competitive compensation packages. This includes not only base salary, but also bonuses, stock options, and other incentives. It’s important to stay up-to-date on industry standards and be willing to adjust your compensation offerings accordingly.
Flexible work options have grown in popularity in recent years, particularly with the rise of remote work during the pandemic. Gallup recently polled professionals to see if they would consider looking for a new job if their present employer ceased giving remote work opportunities. Surprisingly, 54% of home-based workers and 38% of hybrid workers said they would likely look for new employment.
This emphasizes the growing need for employers to consider providing flexible work choices to keep their employees engaged and motivated. By enabling a balance between their personal and professional lives, flexible work choices can help ensure the well-being of employees.
The most important link at every stage of the employee journey is the one between the manager and the employee. Gallup estimates that the manager is responsible for 70% of the variation in team engagement. According to a McKinsey & Company report, many companies are focusing on developing a culture of learning, growth, and feedback by training their leaders to be good coaches.
Employees who feel supported and valued by their managers are more likely to stay with a company long-term. This means providing regular feedback and opportunities for growth, as well as recognizing and rewarding good performance. To further promote a supportive work atmosphere, managers must also be approachable and accessible to their employees.
Employee well-being should be a top priority for companies looking to retain top talent. This includes physical, mental, and emotional well-being. Companies can prioritize employee well-being by:
According to the results of a recent Gallup poll, only 12% of workers strongly believed that their company did an excellent job of onboarding new staff. A well-designed onboarding program is essential to a company’s success because it encourages new employees to feel connected, confident, and engaged in their work. So, what would the components of a well-designed onboarding plan be? Here are some suggestions:
In summary, retaining top IT and engineering talent requires a multifaceted approach that addresses not only compensation, but also company culture, work arrangements, management style, and employee well-being. By prioritizing these areas, companies can create a workplace that attracts and retains the best talent in the industry.
At Theoris, we understand the challenges of finding and retaining top IT and engineering talent. If you’re interested in finding top talent in Indianapolis or beyond, we are here to help. Our proven staffing process is designed to help you find and retain the best IT and engineering talent for your company.
If you’re ready to take the next step, contact us today, and let’s work together to build the team you need to succeed.