Tactics to Retain IT Talent

Keep talent from walking out the door by discovering and addressing moments that matter and turnover triggers.

Executive Summary

Your Challenge

Many organizations are facing an increase in voluntary turnover as low unemployment, a lack of skilled labor, and a rise in the number of vacant roles have given employees more employment choices.

Common Obstacles

Regrettable turnover is impacting organizational productivity and leading to significant costs associated with employee departures and the recruitment required to replace them.

Many organizations tackle retention from an engagement perspective: Increase engagement to improve retention. This approach doesn't consider the whole problem.

Info-Tech's Approach

Build the case for creating retention plans by leveraging employee data and feedback to identify the key reasons for turnover that need to be addressed.

Target employee segments and work with management to develop solutions to retain top talent.

Info-Tech Insight

Engagement surveys mask the volatility of the employee experience and hide the reason why individual employees leave. You must also talk to employees to understand the moments that matter and engage managers to understand turnover triggers.

This research addresses regrettable turnover

Low unemployment and rising voluntary turnover makes it critical to focus on retention

As the economy continues to recover from the pandemic, unemployment continues to trend downward even with a looming recession. This leaves more job openings vacant, making it easier for employees to job hop.

With more employees voluntarily choosing to leave jobs, it is more important than ever for organizations to identify key employees they want to retain and put plans in place to keep them.

Retention is a challenge for many organizations

The number of HR professionals citing retention/turnover as a top workforce management challenge is increasing, and it is now the second highest recruiting priority ("2020 Recruiter Nation Survey," Jobvite, 2020).

65% of employees believe they can find a better position elsewhere (Legaljobs, 2021). This is a challenge for organizations in that they need to find ways to ensure employees want to stay at the organization or they will lose them, which results in high turnover costs.

Executives and IT are making retention and turnover – two sides of the same coin – a priority because they cost organizations money.

• 87% of HR professionals cited retention/turnover as a critical and high priority for the next few years (TINYpulse, 2020).
• $630B The cost of voluntary turnover in the US (Work Institute, 2020).
• 66% of organizations consider employee retention to be important or very important to an organization (PayScale, 2019).