In a world where keeping talented employees is becoming increasingly difficult, you must do everything in your power to increase loyalty. According to recent studies, employee retention rates have declined for the past few years, especially for IT teams and software developers. High turnover affects the bottom line. As a result, businesses are losing out on huge sums of money due to a decreasing retention rate.
In this blog post, we will discuss why employee success matters. In addition, we’ll explain 10 ways to improve your IT team and developer retention rate.
Why Developer Retention Rate Matters
To succeed as a company, you must have a happy and engaged workforce. Employee success matters because it leads to:
- Increased Productivity: When employees are happy and engaged, they are more productive.
- Less Turnover: Employee satisfaction means workers are less likely to leave their jobs.
- Better Customer Service: Loyal employees feel connected to their company. This connection shows in how they treat your customers.
- Greater Innovation: Engaged employees are constantly looking for ways to improve their work and are more likely to develop innovative ideas.
Therefore, if you want your company to succeed, it’s essential to focus on employee success. And one of the best ways to do that is by increasing your retention rate. Ensure your developers are happy and engaged. Here’s how.
10 Ways To Improve Your Developer Retention Rate
1. Make Your Employees Feel Valued
According to Forbes, 66 percent of employees leave their jobs because they don’t feel appreciated. Make sure your team knows that you appreciate their hard work by creating a positive and pleasant work environment. This can be done by:
- Giving them regular feedback.
- Thanking them for their work.
- Offering bonuses for accomplished developers.
- Recognizing them in public.
- Adopting generous vacation policies.
You can also offer competitive salaries and benefits. Let’s be honest; salary is one of the main factors IT professionals and developers consider when looking for or staying in a job. Offering competitive salaries and benefits can help you attract and retain the best talent.
2. Encourage Them To Take Ownership
IT professionals and developers want to feel like they are in control of their destiny. One way to encourage this is by giving them opportunities to take ownership of their projects. For example, delegate tasks. This provides developers with the resources they need, and allows them to make decisions. Empower your developer team!
3. Create a Positive Work Environment
A positive work environment is key to keeping developers happy. Create a workplace where people feel comfortable taking risks, sharing their ideas, and collaborating with others. First, establish clear rules. Second, set expectations. Third, provide them with the necessary tools and resources. Lastly, foster a culture of trust.
4. Make Them Feel Like Part of a Team
IT professionals want to feel like they are a part of something larger than themselves. One way to make them feel this way is by creating a team-oriented work environment. Encourage collaboration. Provide opportunities for socialization. And celebrate team success.
5. Offer Flexible Working Conditions
To keep up with the ever-changing demands of their lives, many IT professionals and developers are looking for flexible working conditions. In fact, according to a survey, 80 percent of employees would be loyal to their employers if they offered them flexible working hours.
Consider offering a work-from-home or hybrid option. Encourage breaks during the day, and change their hours if needed. Flexible working will also promote a healthy work-life balance, prevent burnout, and boost retention rates, all factors that contribute to happy employees.
6. Invest in Their Development
IT professionals want to feel like they are constantly learning and growing. You can invest in their development by providing them with opportunities to attend training courses, conferences, and workshops. You can also give them access to online resources, such as e-books, tutorials, and articles.
7. Encourage Creativity and Innovation
Skill improvement and keeping up with innovation is vital to a developer’s career path. Encourage creativity and innovation by giving them the opportunity to work on new and innovative projects. You can do this by allowing them to experiment with different technologies, collaborating with other developers, and attending hackathons.
You can also encourage creativity and innovation by establishing a company culture that values new ideas. Hold brainstorming sessions, encouraging employees to take risks and rewarding them for their innovations.
8. Promote Career Growth Opportunities
IT professionals want to know that there is a path to grow their careers. Promote career growth opportunities by offering mentorship programs, job rotation schemes, and leadership training courses.
9. Give Them Benefits They Care About
To attract and retain top talent, you need to offer benefits that they care about. This could include things like health insurance, vacation time, 401k plans, paid time off, and childcare assistance. Learn what’s important to the demographic you are targeting.
10. Partner with an Outside Team
Outsourcing doesn’t seem like the typical solution to developer retention rate issues. However, partnering with an established developer team has major payoffs. Companies like EC Group focus solely on developer teams. You can reap the benefits of all the work they’ve put in to get a 95 percent employee retention rate. These established teams complement your in-house developers to boost productivity and push innovation.
How EC Group Maintains a High Retention Rate
At EC Group, we believe in the importance of employee success. That’s why we have developed a set of core values that guide everything we do. They include:
- People-centric: One of EC Group’s core values is people-centricity. We believe that our people are our most important asset. We work hard to create a positive work environment where they feel comfortable taking risks, sharing their ideas, and collaborating with others.
- Purpose-driven: EC Group was founded on the principle of helping others achieve their goals. We continue to uphold this value by providing our developers with opportunities to take ownership of their projects, learn new skills, and make a difference in the world.
- Think long-term: We believe that success is not measured by short-term gains, but rather by how we impact the world over the long-term. This philosophy drives everything we do at EC Group, from our development process to our company culture.
We are proud to say that our core values have helped us maintain a high retention rate, and we continue to attract top talent. Let our approach work for you. Contact us today to learn more.