It’s estimated that 72 percent of tech employees in the US are thinking of quitting their jobs in the next 12 months. If you’re a hiring manager or leader, that likely means you're spending more of your time (and money) on working to backfill positions than moving projects forward.
What might be even more frustrating is the feeling that you don't have control over winning or losing talent because your organization can't compete on pay.
While salaries are certainly driving decisions, if you look at the research, leadership, or lack thereof, is also a leading factor.
According to OC Tanner Research, 79 percent of employees who quit their jobs cited lack of appreciation as a significant reason for leaving. Moreso than ever before, leaders need to ensure they're:
- Giving recognition and showing appreciation
- Giving and getting feedback
- Being an advocate for their employees
- Providing development/training opportunities
- Offering flexibility
According to a recent Gallup study, 85 percent of employees are actively disengaged at work. As a leader, it’s your responsibility to help your employees feel engaged. You can start by being more intentional in your day-to-day interactions and conversations with your team. Ask more questions. Do you know what your employees want in a career? Are they feeling fulfilled? (For additional ideas, take a look at Gallup’s Q12 Survey.)
Build Longevity from Day 1
Employees generally decide within the first one to four weeks whether or not they’re going to stay at an organization. Hyper intentional onboarding – especially for Gen Y & Z – is critical.
Whether in person or remote, new employees want to feel connected and want to build relationships. One introductory meeting as part of an onboarding process isn't going to foster a relationship. Learn their interests, discover what they’re passionate about, and then connect them with others who have similar interests.
And finally, help your employees see their future at the company. If they don’t know what three years from now looks like, help paint that picture - it will help with buy-in and can ultimately help with retention.
Remember, there's a difference between management and leadership. As Paragon's Leadership Forum Facilitator Adam Carroll recently shared, “leadership is dealing with hearts; management deals with hands and heads.”