IT leaders also understand that their corporate culture also plays a critical role in employee attrition, according to the survey. Nearly 26 percent of respondents say that people left their company for opportunities that are more exciting and the chance to work with new technology; another 16.7 percent believe it was because their corporate culture was very challenging. Competitive compensation and benefits packages always play a role, too, with another 19.2 percent citing that as a reason people left, the research shows.
To improve their ability to attract and retain tech talent, executives say improving professional development opportunities, increasing compensation, improving corporate culture & morale and improving benefits all play a major role, according to the survey; these were virtually tied when executives were asked to rank these elements.
Areas of improvement
The most important area for improvement, according to the survey, is "communicate company plans for future growth to employees," followed by "Improve professional development," "Improve corporate culture/morale," "Increase compensation," "Allow employees to work remotely/offer flex time when possible" and "Improve benefits, vacation and PTO time."
"All of these are important elements of a sound recruiting and retention strategy, because they influence how a prospective or current employee views the company. At the end of the day, an employee won't change jobs solely because they are being offered a few thousand dollars more or more PTO. Companies that offer exceptional corporate culture and are well-positioned in their industries are highly desired by job seekers. Employees want to know that they are contributing to an organization that is successful and growing," says Harris.
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