For organizations aiming to continually thrive in today’s competitive market, they should be able to hold onto their top talent. While they may never eliminate the employee turnover, they can still keep the best skills with the company.
2021 has so far witnessed a wave of great resignation. In fact, as per the US Bureau of Labor Statistics, nearly four million people left their jobs in July 2021. Additionally, organizations have reported almost 10.9 million open positions. The IT industry isn’t oblivious to this resignation wave; it is also feeling the effects of churn. According to the 2022 Salary guide from Robert Half, 80% of tech managers admit that they have witnessed an increase in turnover in 2021.
While knowing all the talent is leaving is a hard pill to swallow, losing the star employees is even harder, which is happening more and more. When such employees leave, organizations report that their productivity sinks, morale suffers and colleagues find it difficult to grapple with the increased workloads. Implementing strategies to increase employee retention seems like a great idea. But, organizations should take steps to understand while their employees are leaving in the first place. Knowing this will help to understand their employees better and will prevent the loss of star employees in the future:
Not engaged enough
While employees who feel engaged stay in their workplace, the reverse is also true. Workers who feel they do not have enough development opportunities, the management, or the values of the organization are more likely to leave it.
There’s a significant rise in the number of actively disengaged employees that are generally not satisfied with work but are not cognitively or emotionally invested in their workplace. Knowing whether employees are disengaged requires managers to pay attention to subtle signs of disengagement. They should study workers and see whether they are withdrawing from social activities? Calling in sick more than usual? Or performing bare minimum to get by? Knowing about these signs will help organizations to better understand the level of their employee engagement.
Most employees leave their organizations because of management mishaps. Thus, when it starts to appear that the top talent is taking steps to leave the organization, the first place is at the management itself.
CIOs and other IT leaders should ask themselves whether their employees feel that they are “in this together”? Does the management take steps to hear their suggestions, concerns, challenges and acknowledge them when possible? Do they feel they are being valued?
Tech talent especially desires transparent and accountable management. The top performers only want to work where they feel like they can make a real impact. If they think the leadership team is not delivering the expected results, they are more likely to find their way out of the organization. Hence, managers should be visible and directly engage with their employees, act with speed and decisiveness, and hold themselves accountable for real outcomes.
Too rigid workplace policies
Today’s employees want flexibility. They desire some level of freedom to adjust their work schedules instead of feeling chained to their desk from 9 to 5 or 8 to 6. Even before the COVID forced widespread remote work adoption, flexible scheduling and telecommuting were common in the IT workplace. Thus, if CIOs want to keep their star workers, they should make these permanent options.