How can you as an employer retain top talent in the current market? Apparently, the average employee turnover rate in the UK is 15% a year… The professional landscape is continuously changing, and employee needs are changing with it. In the wake of the pandemic, working relationships are evolving. This means people require more than just a competitive salary to consider staying in their current position amidst ‘The Great Resignation’. So, this blog will discuss the best ways to retain your valuable workforce in the IT sector. Don’t wait for the exit interview to figure out what could’ve been done better…
Attending to individual needs
It’s all well and good having an employee well-being scheme. However, tailored, and individualised plans ought to be made for your employees. This is because considering the individual needs of a person shows an element of care and attention that your competitors may not be able to provide, giving you the edge in this respect.
These plans should allow for reasonable adjustments to the working environment and their schedule, for instance, if someone needs to pick up their kids from school, allow them an early finish on these days with the flexibility to input the remaining hours on an agreed schedule throughout the week.
Offering career progression
What incentives are you offering that your competitors aren’t? Additionally, what avenues are available for your employees to reach their goals, to climb the career ladder? Allowing employees to show their initiative, with a clear way to identify and present their added value is the best way to progress these incentives in a way that’s beneficial for both parties.
Furthermore, how competitive is your current salary rate? Update these regularly, in line with current market values. Unsure as to what the current rates are? Why not check out our General IT Salary Guide.
Flexible and incentivised working
We’ve touched on flexible working. Leniency on the 9-5 is a must-have in the current climate. In addition to this, what separates your company’s culture from potential competitors? A great way to differentiate in this way is with regular team building exercises, with a consensus on activity, such as a hike through Malham Cove for example.
Moreover, what other incentives are available? Make these clear alongside performance reviews. These are industry standard, so spice your process up with rewards that contribute to those small important wins as individuals climb up the progression ladder. These are vital as promotions could be yearly, whereas these rewards, such as extra time off work can be distributed more frequently for maximum incentives to reach broader long-term goals; whilst helping you retain top talent.