The issue of staff retention is a major concern for companies in all sectors, particularly in the tech industry. According to a poll by Gartner, 26.5% of tech workers are actively seeking new job opportunities, compared to an average of 21% across all industries. Additionally, 46.6% describe themselves as passive job seekers open to offers.
To address potential staff turnover, Janine Chidlow, from Wilson HCG, suggests focusing on upskilling, cross-skilling, and reskilling employees. She emphasizes the importance of becoming a skills-based organization to attract and retain talent.
Three companies – xDesign, Custom Neon, and BT – are examples of organizations investing in employee development for various reasons. xDesign prioritizes upskilling to adapt to digital transformation opportunities and boost employee morale. Custom Neon focuses on continuous learning to keep up with technological changes and build a skilled workforce. BT is implementing a reskilling program to improve diversity and retention rates in the cyber security sector.
These initiatives, such as cross-functional projects, mentoring programs, and skills-building activities, have proven successful in increasing employee satisfaction, reducing turnover, and enhancing operational effectiveness. By investing in their employees’ growth and development, these companies are creating a culture of continuous learning and improvement.