When it comes to hiring and managing talent, there seems to be a unanimity of opinion among employers that good employees create a great brand and an enduring business reputation. Retaining your top performers is sometimes easier said than done. After all, your competitors would be on the prowl to poach them. Whether yours is a startup or a tech giant, inspiring your engineers and tech people to stick around is usually a constant battle.
Retaining engineering talent, however, isn’t complex either. Here are five tactics:
1. Offer room for growth
Growth opportunity is the biggest driver for retaining engineering talent. This is particularly true for software professionals. Employers should extend and encourage professional development via training and certification. Trips to trade shows, business conferences, and seminars also serve the purpose. But most importantly, as an employer, speak actively to your engineering talent about career advancement opportunities to prevent them from seeking greener pastures.
2. Flexibility should be a priority
Engineers are a passionate and creative bunch of people. They may not deliver their best work, or stick to one job for long, if they’re second-guessed or micromanaged. Let them find their own way to solve problems. You can then look at the results and check how they managed to achieve them. Allow them to have a certain amount of time each week, or twice a month, to pursue their own projects. It’ll help them retain interest in their work and come forward with innovative ideas.
3. Put the right tech in the right place
Technology is evolving each day. What’s trending today may be dated tomorrow. An employer should always have the latest technologies in place. If an engineer is forced to grapple with outdated tools and systems, they’ll leave at the next available opportunity for a place which offers them the latest tech. For instance, multiple work points in the workplace is an emerging concept and standing desks are very much in vogue.
4. Broaden benefits
These days, even startups are giving big-sized organizations fierce competition and employers are increasingly thinking outside-the-box regarding the perks and benefits they offer to employees. In astudycarried out by Randstad, 55% respondents said they left their jobs because of better benefits offered elsewhere. In the same survey, 61% participants said they were willing to trade a lower pay for a great benefits package. Offer benefits like more vacation time, remote and flexible working options, shorter Fridays, and added facilities like gyms and onsite childcare, in order to retain your top-performing engineering talent.
5. Fair wages
Along with an attractive benefits package, salary remains one of the top drivers of talent retention worldwide, according to the 2019 Employer Brand Research Global Report by Randstad. As the demand for engineers is high especially in tech and manufacturing domains, employers should revise their pay packages to retain the best minds. A company must know the wages being offered by their rivals to stay competitive in the market. Other factors like local cost of living and skillset rarity should also be considered.