We’re living in a time where company loyalty doesn’t mean what it used to. Millennial workers have a reputation for moving from job to job, being constantly on the lookout for the next best thing. Businesses have realized that they must promote their workplace as an ideal location for top talent to do great work — and that even when workers transition from full-time employment, they can still be an advocate for the company’s brand. Planning for shorter employee tenures is the new normal.
This doesn’t mean that retention of key talent isn’t still critical. When it comes to employee retention, tech companies have some of the highest turnover rates of any industry. Retaining top talent is a struggle for many businesses, but there are several things you can do to increase the likelihood of your young, talented tech team sticking around a little longer than average.
Keep reading for 10 helpful tips on how to retain top talent today.
1. Encourage flexibility.
Today’s workers want mobility and flexibility in the workplace. Gone are the days of strict 9-to-5 hours. In their place are remote working options, flexible hours, sabbaticals and fluid PTO policies. Flexible workers are not only happier; they’re more productive. Allow your employees the mobility they desire and they’ll likely stick around longer and have a more positive impact on your business.
2. Level up your employee engagement strategy.
Only about 33 percent of new employees are fully engaged in their new role. That’s a disappointing statistic considering the great lengths many companies take to try and create a positive onboarding experience and ensure open, frequent communication. Invest time and money in developing the right strategy and implementing the right technology to ensure your engagement is both up-to-date and impactful.
Emerging trends in employee engagement include collaborative software that prevents managers from wielding power by selectively withholding information and complete transformation of day-to-day processes such as bad email habits.
3. Create an enticing program for recent college grads.
An impressive 77 percent of students stay at their first job for less than one year. In an effort to remedy this issue, many tech companies are creating and implementing programs to nurture student talent.
Some organizations offer long-term fellowships to provide students with immersion opportunities at various departments throughout a company, while other organizations create short-term intensive programs that offer recent grads an opportunity to fine-tune their business skills and learn how to lead.
4. Ensure your onboarding processes are as streamlined as possible.
Seventy percent of workers say they are more likely to stay at their new company for three years or…