How Companies Fall Short in Retaining IT Talent

 
 
By Dennis McCafferty  |  Posted 12-10-2015 Email
 
 
 
 
 
 
 
 
 
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    How Companies Fall Short in Retaining IT Talent
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    How Companies Fall Short in Retaining IT Talent

    Compensation and financial benefits are reasons why IT workers sign on with certain companies, but retaining valued workers goes beyond financial incentives.
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    Revolving Door
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    Revolving Door

    More than two out of five surveyed IT leaders and pros said their organization struggles to retain tech talent, as no more than 12% of these leaders and pros expect hires to stay with their employer for more than five years.
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    Incentives Program: Money Talks
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    Incentives Program: Money Talks

    82% of IT leaders say that compensation plays a major role in whether tech workers stay or leave a company, and 87% of IT pros agree.
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    Incentives Program: Onward and Upward
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    Incentives Program: Onward and Upward

    60% of IT leaders say career opportunity/advancement represents a significant factor with respect to whether staffers stay or leave, and 51% of IT pros agree.
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    Incentives Program: Staying Power
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    Incentives Program: Staying Power

    43% of IT leaders feel that job security/company health is highly influential as to whether employees stay or leave, and 56% of IT pros agree.
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    Incentives Program: Best Bosses
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    Incentives Program: Best Bosses

    36% of IT leaders say the quality of an immediate manager/supervisor weighs heavily as to whether employees stay or leave, and 43% of IT pros agree.
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    Ambiguous Efforts for Employees: Room for Improvement
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    Ambiguous Efforts for Employees: Room for Improvement

    78% of IT leaders say their organization offers employee education/training/development, but only 38% of IT pros say this is the case.
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    Ambiguous Efforts for Employees: Rigid Stance
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    Ambiguous Efforts for Employees: Rigid Stance

    71% of IT leaders say their company allows for flex/alternative schedules, but just 31% of IT pros say this is true.
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    Ambiguous Efforts for Employees: Overlooked Achievement
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    Ambiguous Efforts for Employees: Overlooked Achievement

    69% of IT leaders say their organization recognizes/rewards workers for accomplishments, but a mere 10% of IT pros say this actually happens.
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    Ambiguous Efforts for Employees: Welcome Committee
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    Ambiguous Efforts for Employees: Welcome Committee

    65% of IT leaders say their company has implemented a formal onboarding program, but only 37% of IT pros say that such a program exists.
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    Band-Aid Solution
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    Band-Aid Solution

    About half of IT leaders and pros do not believe modular/temp project teams are the future of their business.
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    Lost Cause
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    Lost Cause

    43% of IT leaders say they don’t have the infrastructure needed to quickly assemble/disassemble teams to respond to demands.
 

A significant number of CIOs, tech leaders and IT pros admit that their organization struggles to retain tech talent–but diverge greatly in assessing what exactly their company is doing to keep valued workers, according to a recent survey from TEKsystems. IT leaders and their teams agree that effective retention requires a mix of competitive compensation, advancement opportunities, corporate health/job stability and effective management. But their perspectives clash considerably with respect to the availability of what are called employee value proposition (EVP) programs–those which enrich workers’ lives far beyond compensation and benefits. “IT organizations have to first accept that workforce volatility is a reality,” said Jason Hayman, research manager for TEKsystems. “If they work to clearly articulate and implement an EVP that goes beyond compensation to encompass development and other factors, they can alleviate a significant portion of the pain. And if they don’t have the capability to deal with that reality, they may need to rethink their workforce planning strategy. Organizations that accept a ‘victim’s mentality’ will never progress to actually manage the situation.” More than 400 CIOs and other IT leaders and 1,500 IT pros took part in the research.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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