4 Secrets to Retaining Your Tech Talent
The supply of tech talent is dwindling, so how can you entice your current tech workers to stay? We have some tips to help you convince your workers to remain.
Many smaller tech companies these days feel like they’re the Kansas City Royals when they have great shortstops and pitchers. Once the Yankees and the Red Sox come calling, these small market teams have to no choice but to say goodbye to their superstars.
Is it then inevitable that you’ll lose your tech workers when headhunters dangle more lucrative salaries for these wizards? Not necessarily. There are ways for you to foster the kind of work environment that makes people want to stay. To achieve that type of work environment, here’s what you need to do if you’re the boss:
1. Remember the Human Element
Sometimes we just think of our employees by their job titles and what they can do for the company. But they’re not just chess pieces we move around the board. These are people, with human emotions and beliefs. You can’t forget that.
That’s why you need to learn how to emphasize and listen to your employees. One way to improve your skills in these aspects is to take coaching courses and read coaching materials. You’re more like a coach of a sports team rather than a chess player with unfeeling game pieces.
2. Have a Clear Vision and Mission
It’s not just money that drives people. Sometimes it’s as simple as wanting to succeed, especially when the purpose is something they wholeheartedly believe in. To help your employees get on the bandwagon, you have to make it clear what your company’s vision is regarding its purpose. Workers are then more apt to be motivated to work for a noble purpose, and they’ll be more engaged.
Disengagement is a huge problem with workers, as this state makes them more likely to leave and find something more engaging. That’s why you need to set clear goals. Your workers need to know that what they’re doing is actually important.
3. Help Your Talent Become Better Leaders
You should have processes that support team leaders, especially those who have been thrust into leadership positions for the first time. Helping them to succeed helps your company in many ways, as you improve the productivity of those teams. In addition, you give your new team leaders a sense of belonging in your company, as they have a greater influence on the success of your business. Once they believe that your company is also in a way “their baby”, they’re less likely to abandon their position for a new company.
4. Offer Recognition
It’s no secret that the majority of employees tend to work harder when they’re recognized for their efforts. They’re disheartened when their efforts are seemingly ignored, which tempts them to leave for other companies where their efforts may be more appreciated. You don’t need to give them lavish prizes—just offer the recognition in a timely manner and make it personal. Make sure it’s sincere, and not just something that seems forced.
Remember, people aren’t always motivated by money. People can love their jobs not just because of the money, and if they love their job while they work for you they’re less likely to leave.
Founder, Editor-In-Chief // A native Angeleno. John studied engineering at UCLA; founded Schmoozd, an offline social tech networking event in LA with 30,000 subs; ran a startup accelerator (StartEngine). Worked for several major brands like Toyota, DIRECTV, Hitachi, ICANN, and Raytheon. A mentor at Loyola Marymount University (LMU) Entrepreneur School, Dr. David Choi. And advises a dozen local LA startups building amazing tech in various industries; and invested in some. // Let's Connect: john@lastartups.com
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