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This article was featured in the July, 2005 issue of
the Technology First Magazine.
Dayton, OH
July 10, 2005 -
By Angela Richardson, IT Recruiter,
Roytman Information Services, Inc.
Yesterday, I asked an IT professional if he was interested
in learning about an opening in the Dayton area that matched
his skill set; the answer was “Yes”. As a matter
of fact, this is the answer that I receive 90% of the time.
It is rare that an individual is so happy with his current
position that he is not at all interested in hearing about
what the other guy has to offer. However, there are those
companies that inspire this type of loyalty in their employees.
The big question is - HOW?
If the paycheck doesn't fit ...
As the economy improves, it is going to be more difficult
for IT departments to retain their most talented professionals.
Yet since employee turnover is extremely expensive, employee
retention is vital to the bottom line of the company. According
to Chad Dickerson, CTO with InfoWorld, “Proactive IT
managers need to make sure their retention weapons are loaded.”
Salary is obviously going to be a major player in the fight
for IT talent. Because of this fact, you need to be sure that
your salary levels are competitive. Consult a reputable source
for salary analysis. Jena Roytman, Director of Business Development
with Roytman Information Services says, “I frequently
meet with clients to discuss IT job descriptions which generally
include salary ranges. For most of these positions, I can
tell right away if it will be reasonable to expect an excellent
candidate to vie for the opportunity based on the compensation
offered. I can give the client a competitive salary range
for the position described or guide them through the process
of redefining the position to match the budgeted compensation
level.” Once you have obtained the appropriate salary
guidelines, don’t stop there. You must review your salaries
periodically to ensure that they remain competitive.
 Learning
from the best
According to Fortune Magazine’s survey of the Best Top
100 Companies to Work For, other financial incentives that
instill employee loyalty include generous retirement benefits
including 401K matching, affordable health care coverage,
and paid time off, including maternity leave. The costs of
these financial based incentives are offset by the decrease
in turnover costs. Wegman’s, the company that ranked
#1 on Fortune’s list, offers its employees top wages
and financial benefits in comparison to others in its industry.
In return, Wegman’s boasts an employee turnover rate
of 6% compared to the 19% rate of others of similar size in
its industry.
Depending upon your position, you may not have influence
over the financial incentives offered by the company. Luckily,
there are still some things that you can do to instill loyalty
in your staff. I receive some insightful information when
I ask job seekers why they wish to leave their current positions.
Commonly, job seekers are looking to expand their skill set,
work in a company where they feel valued, or have a chance
to move into a position of higher responsibility.
What else can you do?
It is important to give your employees an environment in which
to grow and expand. The dynamic person wants to learn new
things and have a sense of accomplishment. Offer educational
opportunities as much as possible. If outside classes or college
reimbursement are unavailable, give your staff members the
opportunity to cross train. Alternately, delegating projects
that are challenging can also help to keep employees stimulated.
Empower your employees so they will feel valued. Allow those
who work for you to make decision for themselves as much as
possible. In addition to increasing their satisfaction, they
will be able to respond more quickly to the demands of the
customer.
Finally, provide a path for advancement whenever possible.
Giving your employees something to strive for is an excellent
way to ensure that the talented professionals will not stray.
Building toward the future success
Keep in mind that even in the best of all situations, some
employee turnover is inevitable. This means starting over,
but not starting from scratch. As with each situation that
you encounter, the knowledge that you gain will enable you
to make better decisions. When faced with the task of re-staffing,
remember to look for individuals who have a passion for the
job and the industry as well as the required experience. Thus
when you place them in an environment that is rich in educational
opportunities and potential, you will have an employee who
is truly worth retaining.
Angela Richardson is a Recruiting Specialist
at Roytman Information Services, Inc., a Dayton, Ohio-based
provider of Career Placement and Consulting solutions in Information
Technology, Management and Engineering. Established in 1995
the company has been growing consistently in a highly competitive
industry. For additional information please visit http://www.roytmanIS.com
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