Lilit Davtyan is the CEO of Phonex , an all-in-one marketing solution for calls, leads, clicks, emails, SMS, accounts and more.
Despite the proliferation of tech giants and startups around the world, the tech industry is currently facing a talent shortage due to a shortage of skilled workers willing to work or stay in the field.
Recent research predicts that the global shortage of tech talent will widen over the next decade, prompting companies to not only improve their hiring practices, but also improve talent retention within the company.
As the CEO of a marketing automation solutions company, one of my responsibilities is to create a recruitment process focused on building an outstanding team of technology professionals. In my experience, talent retention is about engagement, personal communication with team members, and adapting to the changes that come with change.
Retaining the best talent is an important part of building a strong talent base. The following are three effective strategies for technology companies looking to increase their internal talent retention rate.
Always involve your employees.
As hybrid and remote work models become more popular, employee engagement becomes more challenging. Without proper retention systems — or none at all — remote workers feel disconnected from their peers and corporate culture.
With hybrid and remote work models in mind, business leaders need to know how to engage all employees in team activities, whether it be actively participating in team projects or organizing team events. Department leaders can preserve corporate culture by creating an environment based on open participation, teamwork and collaboration.
The open participation of each employee is achieved through weekly one-on-one meetings - in person or for remote employees - that focus on new company initiatives, department projects and goals, roadmaps for personal growth and career development. Teamwork and collaboration can be achieved through video calls, virtual team building exercises, or by inviting remote employees to the office for corporate events to encourage interaction between team members.
Develop personal relationships with each team member.
It is very important to understand your employees well in order to measure their responsibility towards the company. This is important because if an employee loses a sense of corporate culture, it is almost impossible to keep him.
For example, before leaving or preparing to leave an employee, there are signs that a team member is not loyal to the company. By talking and interacting with colleagues one-on-one, these warning signs can be caught early or avoided altogether. Also, if an employee feels disconnected, other employees may feel the same way and feel negatively about the company.
It is important to communicate with team members on an individual level to understand what employees value and how much they are invested in your company. This will prevent the spread of negative sentiment within your organization.
Focus on the areas most affected by sales.
One area of a technology company's business that is directly impacted by flexibility is employee training. This is a particular challenge for new managers looking to put in place processes that work for them as they adjust to their new job.
When changes occur, the training procedure must be updated for each new employee who joins the company. This shifts the focus from training to on-site on-boarding of new employees. For example, a technology company wants new employees to learn about the company's products and services so they can interact with customers as quickly as possible. This results in managers spending a lot of time on talent retention and customer acquisition, among other core activities.
Last thought
Talent retention is more practical than most business leaders realize, but it also requires building personal relationships with each employee and their commitment to your company's vision. Improve employee retention by implementing strategies that motivate employees and encourage them to stay with the company.
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