In today’s competitive business landscape, it is vital that companies of all sizes ensure the retention of their information technology staff. Losing valuable team members through attrition impacts your firm in many ways: everything from the extra resources spent training a new hire to be productive, to the adverse impacts on your team’s current project timelines.
Your company needs to explore strategies to improve employee retention. A technical team suffering from attrition is not performing at its utmost efficiency. Here are a few ideas to ensure your IT staff remains happy and loyal to your company.
Make Sure Your Benefits Package is Competitive
The market for top rank technical employees is always competitive. Because of that fact, it is vital your company’s benefit package stands out among other similar firms in your area. Robust heath, life, and dental insurance as well as a 401(k) plan with many investment options are a plus. Also consider adding a generous employer match to the 401(k) plan.
Don’t Forget the Financial Incentives
A competitive salary is one thing, but awarding significant bonuses based on performance help to keep your best employees in house. Stock options are another great way to foster company loyalty. A worker has little incentive to leave if your firm’s prospects are great and they are holding some potentially lucrative stock options.
Employees Need a Career Path at Your Organization
Talented IT workers who feel there is little chance for growth or advancement at your company will look elsewhere — even with a robust financial and benefits package. Set sharply defined career goals for your employees and give them to tools to achieve those goals. Offer a career path that rewards success with advancement and new opportunities.
If you need any additional advice on employee retention, including strategies to prevent attrition from impacting your company’s success, talk to the experts at APN Consulting. As one of the top IT staffing companies in the Metropolitan New York and New Jersey area, we supply both the knowledgeable recruiters and a collection of talented, vetted technical candidates available for both permanent and temporary employment. Schedule some time with us today!