As a Colorado technical recruiter, my job primarily consists of sourcing qualified candidates and placing them with client companies seeking their talents. I’m proud of the work we do here and enjoy acting as a bridge between tech talent and the various businesses that rely on their skills.
Sometimes, HR staff and hiring managers reach out looking for a temp contract for a particular project or to cover a leave of absence but we also place full-time positions. A technical recruiter can help with all sorts of tech staffing needs, but one thing that is generally out of our scope of work is employee retention.
Although high turnover can great for tech recruiters, it is not great for the industry as a whole. Contract workers are a great asset, but in most cases, they should be used in conjunction with a full-time staff.
Here are some employment statistics that might help you understand your employees and keep them on-board moving forward.
Turnover is expensive
The interview process can be long and expensive. Even when you settle on a new hire, he or she needs to be trained and might take some time to adapt to your company. That’s assuming they don’t quit in the first month of employment and force you to restart the process. Replacing high-trained employees and executives can cost up to 200x their annual salary.
A tech recruiter can help alleviate some of the cost, but it is cheaper to simply retain your full-time staff.
Over a quarter of workers are at risk of leaving
In general, these will be your top performers too. Even if they are generally satisfied, people with in-demand skill sets are going to receive offers from competitors or recruiters. Ignoring the cost issues outlined above, these workers are usually vital to the performance and success of your team.
Identifying these employees and keeping them engaged is vital to your retention efforts.
Employees are leaving for advancement opportunities and salary
Assuming that employees leave because they are dissatisfied with the company culture and/or dislike their coworkers and boss. This is a mistake.
If an employee feels that the opportunities for advancement are limited, they will be susceptible to offers from recruiters and competitors. In fact, over 70% of the high flight risk employees mentioned earlier cite this as their reason for pursuing new opportunities.
Promoting employee retention efforts is vital to your business’s success, but employee turnover can never be completely prevented. If you are in a situation where you need to fill a position quickly or require help sourcing candidates, a tech recruiter can help.