Managing recruiting and retention has changed a lot in the past two years. Where trend lines typically enjoyed decade-long shifts, modern hiring and retention is shifting faster. A great hiring and retention program protects your ability to do business. The ability to retain employees is a competitive advantage every business is searching for. Consult the experts at Business Centric Technologies when you need IT recruiting and retention advice.
The Trillion Dollar Problem
According to Gallup, employee turnover costs about two to three times the base salary of every employee lost. Unfortunately, in IT, that number multiplies quickly. As a result, even entry-level earners can create a math problem for a business that can spiral out of control. Worst of all, the knowledge each lost employee acquired goes to the competition or leaves the industry altogether, and that doesn’t show up on a P&L sheet.
Costliest Losses are the Easiest to Fix
Some industries expect high turnover, especially in competitive hiring markets. This attitude, in turn, can create willful blindness towards turnover. But before a business says “that’s showbiz,” to its turnover rate, Gallup also mentions over 52% of voluntary leavers report their departure was preventable. The final straw was not hearing from management about their job satisfaction or future development in the company in the three months before leaving.
Contact Beyond the Performance Review
Improving communication is critical, but the reality is there are heavy headwinds against it. Performance reviews are steeped in a tradition of dread and an “us vs. them” mentality. But letting your employees know they are valuable and that their future is part of the business’s prosperity plan goes a long way towards retention.
When you are hiring for long-term results, you need the experts at Business Centric Technologies. See the difference BCT can make in your retention strategies and gain the competitive edge.
If you are interested in learning more about getting the best IT talent in the Dallas metroplex, BCT specializes in recruiting IT talent in Dallas, Ft. Worth, and North Texas. So if you are looking for a rewarding career, contact us today.