CIOReview | | 9 OCTOBER 2023Conduct Stay InterviewsMany companies have exit interviews once an employee decides to leave. But what if you could prevent the employee from leaving, or at least get a sense that it may be coming? Gartner research states that globally 36.4 percent of IT employees are currently looking for a new role. That includes 26.2 percent of U.S.-based IT employees and more than 50 percent of employees in Asia. Many managers have frequent one-on-ones with their direct reports on a regular basis. Using some of that one-on-one time to conduct "stay interviews" may help uncover specific actions leadership can take to provide a more positive employee experience. The manager can ask questions inquiring about what keeps employees coming to work, what can make their experience better, and what their future aspirations are. Having these conversations before the employee leaves may allow leaders to implement policies and practices that keep the employees engaged and satisfied, which in turn generates higher-performing teams. Foster a Sense of Purpose and Belonging, Not Just for the EmployeesEmployees want to feel that their work is making a difference and that they are part of something bigger than themselves. Companies that foster a sense of purpose and belonging are more likely to retain their top talent. Creating a sense of purpose and belonging within the workplace, such as by aligning company values with employee values, promoting diversity of thought and inclusion, and giving back to the community, will foster higher levels of engagement in both managers and employees. But the managers themselves need to be engaged. Gallup estimates that a whopping 65 percent of managers are not engaged or are actively disengaged. When an employee is managed by an engaged manager, they themselves are 59 percent more likely to be engaged, according to Gallup. The key takeaway here is that the organization should do all the things in this article not only for employees but for the managers within the group as well. Providing leadership development training and career advancement opportunities will help keep aspiring leaders from looking elsewhere to satisfy their thirst for growth. The Gallup study shows that, behind pay and benefits, advancement and development opportunities, and direct managers and senior leaders are the two and three (respectively) main reasons top employees leave a company. Getting your managers upskilled and actively engaged will have positive effects throughout the organization. Develop an IT EVPThe employee value proposition is a great way to describe to both current and potential future employees why working in your organization will help them. Gartner found that 28 percent of companies have an EVP for the entire enterprise, but the needs of IT team members require a little extra sauce. Only 9 percent of IT organizations in the US have an EVP tailored for IT talent specifically, according to Garner. Elements of a successful EVP will describe the following:· How the company and group look after the employee's well-being. Flexible work schedules, outstanding benefits, and organizational stability are a few areas to touch on.· How the activities of the group benefit the organization at large. Getting employees to become fully engaged requires that they understand how their efforts are contributing to the success of the company.· How the group encourages and values the contributions of employees and fosters innovation and professional development. · How the organization promotes community support and environmental and social responsibility. Describing how the employees volunteer to make their communities better places can be a challenge with a workforce that may not all be together, but finding ways to allow employees to engage in their communities will attract young talent to the team. Designing an EVP specifically for IT is a good way to improve the engagement of current employees and show potential employees what's possible. According to Gartner, 64 percent of employees value more opportunities to learn and a better work-life balance over salary when changing jobs, and an EVP is a great way to explain how that will happen in your organization. Retaining IT talent in the wake of great resignations and layoffs can be challenging, but it's not impossible. By prioritizing employee well-being, offering professional development opportunities, conducting stay interviews, fostering a sense of purpose and belonging for employees and managers, and developing an EVP, companies can retain their top talent and thrive in the ever-evolving IT industry. CREATING A SENSE OF PURPOSE AND BELONGING WITHIN THE WORKPLACE, SUCH AS BY ALIGNING COMPANY VALUES WITH EMPLOYEE VALUES, PROMOTING DIVERSITY OF THOUGHT AND INCLUSION, AND GIVING BACK TO THE COMMUNITY, WILL FOSTER HIGHER LEVELS OF ENGAGEMENT IN BOTH MANAGERS AND EMPLOYEES
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