Top 5 Employee Retention Factors within Tech
The 7th SPARKies tech and digital awards are coming up. The event shines a light on the very best people, products and companies that make up the Tech sector in Bristol, Bath and the broader West of England region.
We are proud sponsors of the “Best Place to Work in Tech Award” this year, and in this context, we’ve gathered and collated our internal data from working in this industry day in, day out.
Here, the top retention factors that keep Technology professionals making a strong commitment for the long-term. This is our Tech Recruitment Team’s take, based on the regular conversations we have with candidates:
1.Progressive Tech, R&D Time
The most common reason we find talented techies want to leave their current position is the opportunity to learn and work with modern and progressive technology. Time to experiment and learn within the working week is an often overlooked element that can improve retention and allow employees to improve their skills.
2.Fair Salary & Benefits
A fair days work for a fair days pay sounds obvious but with such a shortage of skilled techies in the UK, it’s important that salaries are fair, competitive and reflect the level of experience required. Sought after benefits often include; share options/equity, bonus, conference allowance, good pension, training budget, choice of kit, unlimited holiday, the list goes on…
Work-life balance is key and remote/home working is very desirable, particularly when it comes to avoiding Bristol and Bath’s gridlocked roads and expensive parking. Being able to offer flexibility to people with family or childcare commitments will always be looked upon favourably as it shows trust, empathy and a mature approach.
4.Career Development & Training
Companies that invest in their employees’ development and progression are more likely to retain their best employees. Training courses, structured career plans, tech events and conferences, regular performance reviews are key in keeping an engaged and happy workforce.
All of the above is very important but most techies will need to feel enthused about the nature or scope of the projects that they’re working on. An old legacy back-end HR system using old development languages is unlikely to appeal. Employees are looking for opportunities to cross/up-skill, work on meaningful products or something offering an interesting challenge.
Not by any means exhaustive! We’re always open to discussing more in detail; feel free to get in touch if you want some ideas on how to become one of the best workplaces.