The demand for star talent is fierce today, and it is a job seeker’s market for those technology pros that positively impact an organization. As a result, employee retention has become both a corporate strategic initiative and a concern.
New York, NY (PRWEB) March 18, 2013
In today’s dynamic job market, game-changing technology professionals tend to stay at jobs where structured plans for their professional growth and career advancement are clearly defined, say experts at Harris Allied (http://www.harrisallied.com). According to the recent Harris Allied Tech Hiring and Retention Survey (http://www.harrisallied.com/Hiring_Survey.html), 58.1% of senior executives, hiring managers and team leaders said that they offer opportunities for professional development and career advancement as their most valuable retention tool.
“Despite recent buzz about telecommuting and its impact on the workforce, technology professionals that are agents of change within an organization or considered stars within their field place far more value on their future professional development, as well as how much a company values their contributions over work-life issues,” notes Harris Allied Managing Director Kathy Harris.
To that end, Wall Street and other companies that rely on star tech talent offer such benefits as tuition reimbursement, senior management mentoring, leadership training, as well as opportunities for internal and external recognition, including speaking engagements and press coverage, to help retain their employees.
“Worth noting, only 7.3% said telecommuting was their most valuable retention tool, according to our recent Harris Allied Tech Hiring and Retention Survey. Culturally speaking, work-life benefits are not retention tools for Wall Street,” Harris says.
According to Harris, who has been an executive recruiter for 15 years, with expertise in technology and the financial services industry, the economic realities of recent years have shaken company loyalty. The job security that was long associated with working on Wall Street has eroded due to market conditions. “At the same time, the demand for star talent is fierce today, and it is a job seeker’s market for those technology pros that positively impact an organization. As a result, employee retention has become both a corporate strategic initiative and a concern all the way up to the C suite,” Harris adds.
According to the survey, executives also cited competitive salary (23.6%), benefits packages (4.5%), and bonuses (2.7%) as their most effective retention tools. “These employees need to feel valued, and compensation can play an important role in demonstrating just how much an organization appreciates their contributions. But if that employee already has one foot out the door, the offering up of a sizeable salary increase at the eleventh hour is usually not enough to keep that employee because they know it’s being offered as a last resort.
“Technology stars feel appreciated and know that their contributions are valued when employers allow them to work in collaborative teams, offer them access to senior leadership, or have them interface with the business on a regular basis. They like to see how their work fits in with the overall business picture. At the same time, offering them that kind of access provides them with context for their technology solutions, as well. It’s a sound business move for employer and employee alike,” says Harris.
About Harris Allied
Harris Allied provides premier executive search, technology and quant analyst placement services to the financial services, professional services, consumer goods, digital media and tech industries. The firm represents clients who are at a variety of growth stages: from tech start-ups to established industry leaders. Harris Allied’s client-centric approach allows the firm to objectively assess the strengths of qualified candidates and thoughtfully match them with the right opportunities.For more information visit http://www.harrisallied.com. To view Harris Allied’s corporate video, “For Each of Us, It Starts with a Moment,” visit http://www.youtube.com/harrisallied.