Technology companies have higher demands each year, and society is only moving to include more tech innovations. With this, the need for tech professionals only grows. But the right tech talent is scarce, so employers have to find ways to keep them. The tech industry is one of the most progressive in terms of employee benefits and office culture. And it is a result of the need to retain the talent pool that exists. These are the key characteristics that encourage tech professionals to stay with a company.
According to Linkedin, 59% of employees change to a new job because they felt they have more development opportunities at another company. The main factor that helps retain current employees is opportunities for career development. Because there is a shortage of tech employees, these professionals know there are excellent opportunities everywhere and are always looking. Some companies offer on-demand learning resources, like their training programs, or enroll in a coding boot camp to obtain new tech skills.
Another option is to set mentorship programs where employees can learn from more experienced workers. Offer hands-on training so employees can learn new skills and accept feedback from them to know how the company can improve. Overall, employees want to feel that they can go far with the company and that their career will grow with each project. If they think their career goals don't align with the company, they are likely to leave.
Projects that Matter
With all of the changes that technology has brought to our society, millennials and younger generations seek more meaningful lifestyles. Most young people nowadays aren't satisfied with a job that only pays the bill; they want something more. In the tech industry, especially, most people want to impact their work and build something that matters. And as an employer, it is your job to give your employees a purpose that matters.
It doesn't necessarily have to be a project that will change the world, but employees like to feel that their work is having a direct impact on the company. It is one reason tech professionals love to work for startups. Especially in their early years, startups value their workers' opinions, and any new solution an employee comes up with has a direct impact on the startup's performance.
Employees with a purpose have higher productivity and are more creative and come up with more innovative solutions. Plus, a purpose-driven company will attract more employees. It is crucial to have a mission that employees feel identified with; that way, they will adopt it. Good options are to foster fun competition between the employees, recognize excellent performance, and make decisions independently.
Culture determines the work environment in a company. Employees want to feel appreciated, comfortable, and in an active and innovative workplace. One of the standard practices in tech companies in the last few years is to have flexible working hours. That way, employees can decide when to work, as long as they keep productivity levels, of course. Employees will feel they are more autonomous in their time. Also, the liberty to work from home is something many young people dream of, even if it is a couple of days per month.
A culture of transparency and support is always essential. If employees know where the challenges are and where the companies are having difficulties, they will feel part of it. Plus, having the option to always ask for help, encourage teamwork, and optimize productivity. At last, encouraging camaraderie between team members will improve the environment in the office.
No one wants to work for a bad manager. A good manager should be committed not only to the company's goals but to make its employees grow in their positions. They have to be encouraging and make the employee feel they will learn from them. A total of 50% of employees that don't feel valued by their bosses look for other jobs. A good manager will help retain tech talent more than anything else. They are vital in keeping employees engaged and passionate about their job.
Tech professionals are known to change job positions regularly. Companies have to do everything they can to retain the talent pool they managed to attract. Offering development opportunities for career growth, having a mission-driven company, working on impactful projects, having a high culture, and hiring good managers are the way to go. All these are instant magnets for competent tech professionals.