Most Tech businesses know just how hard locating top talent can be and with the high-end talent gap growing, this is becoming an increasingly difficult task. According to a report from Cloud Foundry in 2018, there will be a million unfillable developer jobs in the next decade. This forecast means that it will continue to get harder for companies and organizations to hire/retain great developers for their teams. Overall, the employment of developers is expected to grow by 27% by 2024. 

To thicken the plot even further, once you find the perfect hire, you may realize, retaining your Tech professionals is just as tricky as attracting them in the first place. Replacing employees with specialized skill sets or those in a senior Tech-based role will cost your company money, resources, and manpower, which is why several forward-thinking businesses are seeking practical methods to retain Tech talent.

Attracting and retaining quality tech talents can either be done by employing company or by outsourcing a recruitment agency.

We’ve compiled the top 3 below to help you: 

• Rethink Your Benefits & Compensation: Providing a quality benefits plan is essential to increasing your retention rates and productivity levels while decreasing your turnover rates. Many Tech companies make the mistake of offering trendy perks the industry has become known for, like free laundry, ping pong tables, and tasty lunches as a part of their core benefits. All of these are fine, but a better strategy will be will engaging directly with the talents and finding out which benefits they find the most valuable. Doing so will allow you to provide Tech talent with the compensation packages that matter most to them, which can lead to improved work satisfaction levels, reduced turnover rates, improved work culture, and increased productivity while also helping you better attract fellow Tech experts for available roles. In short, if you want to attract the best, you have to offer the best! 
• Training and Development: High-performing talents always like to be challenged, stimulated, offered training and upskilling opportunities per time and improved. To keep them, there must be a clear growth trajectory and improvements as well as opportunities to go up the ladder. This not only helps them to improve on their skillset but also relays to them that the company cares about their personal and career goals. Failure to do so could lead to a high turnover rate as great developers are always on the lookout for new opportunities. Another way to ensure the development of your tech talent is to provide access to mentorship by more experienced developers within the organization.

• Create A More Inclusive Work Culture: Offering benefits employees want and providing competitive salaries can help improve your retention rates, however, the growing threat to your Tech retention may be employee mistreatment and toxic work environments commonly found within the Tech sector. The estimated cost of employee mistreatment in Tech is around $16 billion annually, so not only will your turnover rates increase, but your business expenses will as well. It’s important to remember that employees’ work experiences will differ based on race, gender, and sexuality, which is why integrating inter-sectionality can be beneficial in helping create a more inclusive work culture. Integrating inter-sectionality helps create a toxic-free environment that recognizes employees as individuals and take into account what is needed for both their professional and personal growth.

 

Alternatively, you can outsource the recruitment process through a trusted recruitment agency. At Swifta Systems, we take off the rigorous burden of getting highly qualified talents off you.