Professionals in demand can jump ship even during the uncertain global economic climate: what must organizations do to retain them?
Talent recruitment and retention are a growing and widespread challenge for business leaders. According to an Asia Pacific region Digital Talent Study by Korn Ferry, 83% of respondents were facing scarcity of talent, and 70% confirmed that their inability to meet candidates’ expectations was their biggest challenge.
Now, a global survey—conducted across more than 1,000 application developers, and IT and business management professionals—has found that people in this talent pool would consider other roles for stronger career path options, better mentorship and greater opportunity to work with cutting edge technologies.
The survey by Enterprise DB (EDB) targeted open source technology users, specifically those holding application development, information technology and operations titles at organizations employing more than 100 people. Respondents were surveyed on their volume of work and quality and kinds of training, along with motivations that could lead them to seek other job opportunities.
Some 47% of the respondents were from Asia, and key findings include:
- Respondents indicated they would quit for better career path and learning opportunities
Findings revealed that job hunting is motivated by:
✔ Improved career path options (24%)
✔ Better mentorship (17%)
✔ The opportunity to work with more cutting-edge technologies (16%)
- Training opportunities in emerging tech and compliance captured high ratings
Respondents were asked to rate their employer’s approach to new training initiatives during the pandemic:
✔ 53% viewed their employer’s approach to new technology (e.g., Cloud) training more favorably
✔ Nearly half (48%) had a more favorable perception of compliance training
- The pandemic did not raise employer focus on mentorship and wellness
When respondents were asked which programs their employer rolled out during the pandemic:
✔ 10% of their employers rolled out new mentorship programs
✔ 13% of their employers conducted soft skills training
✔ 14% of their employers provided wellness programs
- Management training suffered
✔ 59% of respondents viewed their organization’s approach to management training less favorably
According to the firm’s President and CEO, Ed Boyajian: “Technical professionals are sending a clear message to management on what keeps them engaged. As employers and leaders, we need to actively support their development. Whether it’s offering more mentorship, training in the best technologies, or promoting overall well-being, we must invest in what inspires our teammates and helps them grow.”
As competition for top IT and application development talent heats up, organizations can implement more benefits, such as Wellness days, a flexible work environment, leadership and technical training; and home office stipends to support stronger remote-work arrangements.