Actionable strategies for reducing employee turnover from industry practitioners
“47% of HR teams mention that employee retention and
resource churn is the highest challenge for them. “
Approximately 35% of employees leave their jobs every year to work somewhere else. Especially in the IT industry, ample new opportunities are being created every day, leading to more resource churn and employee turnover challenges. Although there’s excellent IT talent available in the industry today, finding the right employees and retaining them becomes a challenge for every organization. Not to mention, not having the right talent for the tasks can hamper productivity at work and delay client deliveries.
To reduce employee churn, companies need to take some effective measures to ensure that employees remain with them for a more extended period. Since up to 20% of staff turnover can occur within the first 45 days of joining, the right onboarding, training, and guidance during this time can help minimize the churn. Some of the top challenges in staff augmentation that lead to resource churn include lack of communication or management, inability to find the right experts, ineffective project transfer, a below-average onboarding process, lengthy hiring processes, unfulfilled expectations, and many more.
Digicode understands the challenges and offers solutions that align with employees’ and companies’ struggles during the initial days of hiring and joining. We support companies with our IT staff augmentation models throughout the process, from onboarding to operations.
Here are 5 tips that can help you reduce the employee churn:
1. Shorter Hiring Process
According to our research, the offer acceptance rate is largely dependent on the organization’s response time.
When there are fewer stages in the hiring process and a faster response time, there are higher chances of hiring good talent that stays with you.
We have witnessed an 85% chance of acceptance on Day 1, 60% within 3 days and just 10% after 5 days. As a result, our managers are highly proactive during the hiring process and work diligently to close it faster, more efficiently and smoothly.
2. Reducing employee turnover with stronger onboarding
A Digicode Delivery Manager handles the complete onboarding process with a strategic onboarding plan and necessary checklists.
Within 2-4 weeks, we help our clients grow their team in a 2-step process. In the first step, we are ready to hire senior staff, while in the second, we prepare the senior staff to hire other team members. Once the onboarding process is smoothly conducted, it gives a higher chance of retaining employees.
3. Better benefits and work environment
Today, good talent doesn’t choose a company based on the offered work or opportunities. They look for perks, benefits, health packages and more. When we provide excellent benefits packages like kids’ insurance, medical insurance, gym facilities and many other perks, we invest in our people and deliver unmatched value in their lives and it’s a nice practice for overcoming the employee turnover phase. As a result, our clients rely on us for long-term relationships and programs of work. 87% of our employees recommend us to their friends and family, and for us, this is a sign of success in creating satisfied employees. We apply the same strategies and insights to our clients and help them retain their best people, too.
4. Greater Connect with the Management
As a stable international company, we’ve noticed that teams with a stronger connection with their senior management are better inspired to work and are more productive. When we hire exceptional senior management for your business, we give them opportunities to build a better rapport with juniors and create long-lasting relationships. We assure team excellence with open communication between all levels of the team.
5. Superior Learning Opportunities
When employees are given constant new learning opportunities within the organization, they have a better chance of growing and climbing the corporate ladder. Digicode understands this phenomenon and has created the “42 Stairs” learning management system for continuous education of IT staff, including FE, BE, Devops, Gamedev and more. It also gives employees access to an internal expert community to resolve any challenges or queries of team members. It also delivers an excellent opportunity for personal and professional growth. When employees see value in sticking with an organization, they rarely quit.
Does resource churn preventable?
Remember, employee churn is costly. Replacing an employee takes time and money. Losing an employee can cost 1.5-2x the employee’s annual salary or tens of thousands of dollars to the company. But, luckily, 75% of resource churns are preventable.
We’re ready to resolve resource churn challenges for your IT verticals with a model that’s worked for countless companies across the USA. At Digicode, we minimize employee turnover with our expertise and experience in staff augmentation solutions.
We have an eNPS score of 78, 43 points above the industry benchmark.