Unemployment in the U.S. continues to fall. It stood at 3.8 percent in March, and then dipped to 3.6 percent in April. While this is good news for everyone, it adds to the ongoing challenge faced by HR and hiring managers, especially when it comes to sourcing and retaining IT and other high-demand professionals.
- In a recent survey of 3,400 CIOs across 82 countries, 65 percent of respondents said they were concerned about talent retention. Sixty-five percent of them noted that a lack of talent would prevent them from keeping up with the pace of change in their industry.
- Jobs for software developers are expected to grow by 17 percent between 2014 and 2024, according to the U.S. Bureau of Labor Statistics. The situation for data scientists and network security engineers is similar.
While there’s no one-size-fits-all solution to talent retention, it starts by getting to know each one of your IT employees individually and identifying the real reasons they might ever consider seeking a job elsewhere. You can do this via surveys and, even though it’s too late to keep at least one superstar on board, effective exit interviews. Here are some additional suggestions:
Support professional growth.
To prevent losing your best IT talent to your competition, make sure they can realize their desired career goals within your organization. Companies too often focus on attracting new employees and fall short in terms of nurturing the ones they already have. In another study, 76 percent of engineers said they would leave their jobs for better growth opportunities.
Provide the right tools and training.
IT pros are naturally curious about and attracted to the latest and greatest. They want to work with the latest technology and constantly keep learning.
It’s easy for people to stay connected today. Increasingly, employers are learning that employees are happier and more productive when they’re allowed to work from home or another remote location or to control their own time schedules.
Determine how a person likes to be acknowledged for their work. One employee may prefer a personal thank-you note or email, while others may like more public forms of recognition. Likewise, tailor rewards to each individual. Your strategy will backfire if you recognize someone with a steakhouse gift certificate if they’re a vegetarian or tickets to a sporting event if they’d rather be at the opera.
Keep communication lines open.
Foster an environment where employee feedback is regularly encouraged. If top IT employees know that your company allows them to have a say and be listened to, they will be less likely to seek this type of culture elsewhere.
The talent management experts at TRC Professional Solutions specialize in hiring and retaining top IT talent. We can help you address your human capital concerns with an ongoing strategy that will meet the unique needs of your organization. Contact us today so we can tell you more.