When you consider the costs of the technology staffing process, it becomes paramount to retain the organization’s top technical talent. Of course, you also need to take into account the resources spent onboarding and training new hires, let alone the productivity hit when a top worker leaves.
In essence, employee retention remains a vital part of a healthy company’s bottom line. Let’s look more closely at how benefits matter when it comes to a business’s technical employee retention rate. Leverage these insights to ensure your staff stays inspired, professionally satisfied, and loyal to your company.
Employees increasingly Unsatisfied with Company Benefit Packages
Studies reveal that IT workers increasingly find their employer’s benefit packages less than desirable. Nearly 40 percent of all employees feel their current benefits are acceptable, according to a 2018 survey by Randstad US. In the current competitive landscape for technology talent, businesses need to step up their game when it comes to the perks of employment.
The Randstad study also noted the effect a company’s benefits package has on employee retention. 42 percent of workers are considering leaving their current employer due to poor benefits. Additionally, 55 percent have left jobs earlier in their career after finding better perks with another firm.
That last survey finding truly hits home for IT organizations hoping to keep employee morale at its highest. In short, your benefits package plays a massive role in its retention rate.
Benefits also matter when hiring Talented Technology Professionals
It also stands to reason that a robust benefits package remains a great differentiator for candidates choosing between two (or more) job offers. Two-thirds of the respondents to the Randstad study felt benefits played the biggest role in a decision on a job offer. In addition, 61 percent said they would accept a lower salary if the job provided the right level of perks.
What Benefits matter the Most to IT Pros
Not surprisingly, health insurance is the most important benefit for 75 percent of the Randstad survey respondents. Other desired benefits include flexible scheduling, telecommuting, onsite fitness, childcare, and dry cleaning options, as well as free soft drinks and snacks.
Ultimately, when it comes to hiring and retaining the best tech pros in the business, your company’s benefits package needs to be top notch.
Are you looking for the right IT talent?
When your company wants additional advice on building a great tech team, talk to the experts at The CERES Group. As one of the top technical staffing agencies in New England, we provide the candidates to help you succeed. Contact us today to get the talent you need!