Corporate Culture in Technology Companies: How to Avoid High Turnover?
When compared to other major industries, software and internet companies had the highest employee turnover rates. This can be explained by the fact that there is a scarcity of IT professionals compared to company expectations.
What can you do to ensure that your turnover is low in a field where there is so much rivalry for talent?
Here are some things an organization may do to improve employee retention:
- Show your appreciation.
Make sure you recognize their contributions as well as their overall worth to the team and the company. Determine how each member of your team prefers to be acknowledged. While some employees may prefer a personal thank-you card following a long-term project's success, others may relish being nominated for an in-house award. You can optimize employee engagement for your entire company by designing different recognition methods for different departments and teams.
- Take the initiative.
You can try to organize fun activities that are compatible with the corporate culture to attract young talents and benefit from their ideas, advice, and even leadership while doing this. By creating annual or 6-month engagement plans, you can introduce your employees to the company culture before joining the company and maintaining employee motivation once they are part of your team. It will make employee engagement much more effective if you act first and share positive feedback in one-on-one meetings without waiting for your high-performing teams to ask for a raise. Don't forget to check if their fees are in line with industry peers. Even so, you can try boosting it or giving it a surprise “bonus” for high performance.
- Create a long-term career development strategy.
Many employees desire to develop in their jobs and are looking for new challenges. When we look at technology companies, we see that the desire to develop new competencies is much higher. If your employees know they can achieve whatever they want within your organization, they will be less likely to look elsewhere. A well-thought-out plan that includes job growth or training in their areas of interest accomplishes this. Employee retention can be aided by providing opportunities for your employees to grow and enhance their knowledge, abilities, and experience. Since certain training budgets will be challenging for each employee, you can start with ready-made training content by applying to LMS platforms, uploading your own training, and sharing them online with your new teammates.
Your employees will tell you everything you need to know about their job satisfaction if you create an environment where open feedback is welcomed and anticipated. They will not take their frustrations elsewhere if they believe they have a voice. Especially in remote working, you can apply to digital tools where suggestions can be collected in a single pool. You can show that you care about the ideas of your talents by sharing your action plans with the suggestions received.
- Create a positive company culture.
The way employees in your company engage with one another and how the team interacts with the outside world, such as partners and suppliers, is defined by the business culture. It's the formula that leads the team and motivates and inspires employees. In addition to creating a fun, happy, and exciting working environment, corporate culture also plays an important role in bringing important talents to the team. You can measure the issues such as employee motivation, team effectiveness, feedback culture, development, which are especially important for technology companies, with the help of ready-made pulse surveys, wherever your teams are and follow the change in real-time.
- Keep track of and evaluate employee satisfaction.
It's crucial to comprehend why employee engagement is so important for maintaining and maximizing your talent. You can enhance your company's turnover rate by measuring it. By organizing employee satisfaction surveys and holding periodic one-on-one meetings, you can evaluate employee engagement and take action by identifying problematic issues early.
- Get help. Get Sorwe.
You can share your internal communication content with all your employees by shaping them according to company values by using Sorwe.
We offer a new employee experience with our employee-oriented mobile application designed according to the habits of the new generation. By contacting us, you can prevent your employees from moving frequently.