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Human Resources
Staying Power
CIO Survey Reveals Most Effective Retention Methods
TORONTO - In the information technology (IT) industry, money talks, but it's not the only employee-loyalty tool, a new survey shows. When chief information officers (CIOs) were asked to identify the most effective ways to keep IT staff, compensation (27 per cent) topped the list. Providing flexible schedules was close behind, cited by 21 per cent of respondents; another 17 per cent said opportunities for professional development helped to improve retention rates.
The survey was conducted by an independent research firm. It is based on telephone interviews with 270 CIOs across Canada.
CIOs were asked, "Which of the following elements have you found most
effective at improving IT staff retention?"
Increased compensation........................... 27%
Offering flexible schedules...................... 21%
Professional development or training............. 17%
Telecommuting.................................... 7%
Extra vacation days or time off.................. 4%
Granting company stock or options................ 3%
None............................................. 1%
Don't know/other................................. 20%
----
100%
"Attractive compensation is a key component of an effective retention
program as it shows employees their contributions are valued," said Sandra
Lavoy, vice-president with Robert Half Technology. "A corporate culture that
includes work/life balance and training options is also highly valued by IT
professionals and is crucial for retaining top performers in a competitive
hiring environment."
Effective Retention Programs
Here is some advice for improving retention rates:
- Pay competitively.
Periodically benchmark employee compensation against industry-standard ranges to ensure your salaries are keeping pace. Robert Half Technology produces an annual Salary Guide with salary ranges for more than 60 IT positions.
- Support work/life balance.
To prevent teams from burning out, ensure that workloads are realistic. Encourage employees to ask for help when they need it, and consider bringing in project professionals to help during peak periods.
- Offer and promote training.
Provide IT staff access to the courses and certification programs they need to grow their careers. Make sure employees are aware of professional development opportunities.
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