Is your organisation “Going Agile”? How good is your Key Staff Retention? How much do you know about your key IT skills? How engaged are they? IT people with the skills needed for Agile environments are in very short supply – globally. And it would seem that these are particularly important to your organisation right now.
Though not specifically from IT and not specifically in Agile environments, the information from my research on employee retention is scary – to say the least. And, if I just think about it for a minute, it’s probably worse for IT right now. Here’s a short sample of what I’ve gathered in the past year or so:
- 51 percent of workers are looking to leave their jobs (Gallup)
- 40 percent of employees are considering employment outside of their current firm within the next year (SHRM)
- 34 percent of employees say they plan to leave their current role in the next 12 months (Mercer)
- 74 percent of all workers are satisfied with their jobs; 66 percent of those are still open to new employment (Jobvite)
- 44 percent of Millennials say, if given the choice, they expect to leave their employer in the next two years (Deloitte)
- 45 percent of employees reported that they would be likely or very likely to look for another job outside their current organization within the next year (SHRM)
- 47 percent of Americans would leave for their ideal job even if it meant less pay (Adobe)
Does this last one shock you – even just a little bit?
And what does it cost to replace employees that leave the organisation? Well, according to research:
- Cost of replacing entry-level employees: 30 to 50 percent of their annual salary (ERE Media)
- Cost of replacing midlevel employees: 150 percent of their annual salary (ERE Media)
- Cost of replacing high-level or highly specialized employees: 400 percent of their annual salary (ERE Media)
Even in the short term, it costs you less to have proper retention practices in place than it costs to lose key IT skills.
At TalentAlign we help organisations put career paths in place, in traditional as well as Agile environments, to help you to grow and retain the talent that you need. Email us now if you would like more information, or click here to download our “Career and Competency Management” Fact Sheet.
We look forward to helping you grow and retain top IT talent.