If you can, offer a menu of perks. On campus fitness centers, team building/bonding experiences such as talent shows, or company-philanthropic programs may appeal better to younger workers who get a kick out of extending their college-like experiences in the workplace. Those with families may appreciate more flexibility in work hours to help them balance work-life responsibilities.

And don’t forget spot rewards. Make sure your managers have “goodie drawers,” filled with inexpensive gift certificates, certificates of appreciation and time-off vouchers so they can immediately reward an outstanding job.

7. Make the work more interesting Most technology professionals want new challenges that help them update skills or they’re liable to head for the exit. Share company direction openly and honestly with your employees. You’ve hired skilled professionals; ask frankly for their advice and you’ll not only spark their interest, you’ll probably also receive great ideas.

Talk with them about what they’d like to do, and what they see as the “next big thing” for their talents. Give them access to training and remind their managers that ever

Here are seven tips I’ve found helpful when working with companies suffering from talent drain, things you can do to not only retain staff but increase productivity and performance.

1. Stay on top of your rate of attrition Ironically, many companies examine their rate of staff attrition only after extensive losses. A widely publicized survey (done by CareerBuilder) earlier this year reported that 32 percent of IT workers planned to leave their jobs in 2006. The Walker Loyalty Report for Loyalty in the Workplace reported that only 34 percent of workers were truly loyal.”

Considering that Silicon Valley’s average annual rate of attrition is about 20 to 30 percent and the national average has been just under 17 percent, these recent surveys should come as a shock.

If you don’t already measure attrition rates within your staff, start now. Determine whether your retention rate is within norms for your industry, company and location. If you see an upward trend, you’ll have time to take action.

2. Revisit your compensation plan regularly Money isn’t everything, but it is important when IT workers are in high demand. According to a recent study by Randstad North America, 59 percent of employees say they would stay in their job if they received competitive compensation.

Are you really paying the going rate? Can your benefits meet/exceed industry standards? You should be doing regular reviews to ensure that your compensation really is competitive.

Researching salaries can be labor intensive, as you have to factor skills, demand for skills, years of experience and your local job market. But some shortcuts are available.

HotGigs offers a chart of hourly rates of contractors, organized by job type. With benefits, your full-time employees should be making at least 60 percent of the hourly rate of consultants. This poster also provides a good benchmark for budgeting for contractors.

3. Conduct regular audits of job satisfaction Are you measuring the job satisfaction among your workforce? If not, start now using third party employee satisfaction measurement services, such as he Hay Group and WebSurveyor.com, or design your own survey. Then plan regular audits every year.

Formal third-party surveys have the advantage of assuring your employees of anonymity, improving response rates. But you can also create your own survey using services such as Zoomerang.

Ask about the many things thatinfluence employee satisfaction such as:

• compensation
• benefits
• advancement potential
• work hours
• training programs
• flexible working conditions
• telecommuting
• job-sharing
• office environment and work tools

If you've never done an employee satisfaction survey, the results will probably surprise you. But they’ll help you determine how to cost-effectively offer the work environment that will keep good people.

4. Evaluate your managers The CareerBuilder survey found that 25 percent of workers were dissatisfied with their immediate supervisor. Poor managers are the bane of your retention efforts.

The employee satisfaction survey should identify problem bosses. Then work to correct the problem areas.

Good managers communicate the vision and value of IT with employees. They remove barriers to their employee’s successes. They work on skills development programs and create formal or informal mentoring programs. They provide clear guidance on roles, responsibilities and rewards.

If your managers aren’t up to snuff, get them training or move them out. Your own lack of action may cost you even more employees in the long run.

5. Promote from within Promoting from within demonstrates to employees that you reward hard work, can boost productivity, and help with team collaboration and staff retention.

Establish lists of soft and hard skills for the required positions and responsibility levels with your employees, so they know exactly what to shoot for. Establish a solid employee performance evaluation around these lists, and use it as criteria to promote.

6. Perk up the perks Well designed and executed an employee benefits plan has to include health insurance and generous retirement options. But additional perks can make the difference between retention and a farewell party.

If you can, offer a menu of perks. On campus fitness centers, team building/bonding experiences such as talent shows, or company-philanthropic programs may appeal better to younger workers who get a kick out of extending their college-like experiences in the workplace. Those with families may appreciate more flexibility in work hours to help them balance work-life responsibilities.

And don’t forget spot rewards. Make sure your managers have “goodie drawers,” filled with inexpensive gift certificates, certificates of appreciation and time-off vouchers so they can immediately reward an outstanding job.

7. Make the work more interesting Most technology professionals want new challenges that help them update skills or they’re liable to head for the exit. Share company direction openly and honestly with your employees. You’ve hired skilled professionals; ask frankly for their advice and you’ll not only spark their interest, you’ll probably also receive great ideas.

Talk with them about what they’d like to do, and what they see as the “next big thing” for their talents. Give them access to training and remind their managers that every

2. Revisit your compensation plan regularly Money isn’t everything, but it is important when IT workers are in high demand. According to a recent study by Randstad North America, 59 percent of employees say they would stay in their job if they received competitive compensation.

Are you really paying the going rate? Can your benefits meet/exceed industry standards? You should be doing regular reviews to ensure that your compensation really is competitive.

Researching salaries can be labor intensive, as you have to factor skills, demand for skills, years of experience and your local job market. But some shortcuts are available.

HotGigs offers a chart of hourly rates of contractors, organized by job type. With benefits, your full-time employees should be making at least 60 percent of the hourly rate of consultants. This poster also provides a good benchmark for budgeting for contractors.

3. Conduct regular audits of job satisfaction Are you measuring the job satisfaction among your workforce? If not, start now using third party employee satisfaction measurement services, such as he Hay Group and WebSurveyor.com, or design your own survey. Then plan regular audits every year.

Formal third-party surveys have the advantage of assuring your employees of anonymity, improving response rates. But you can also create your own survey using services such as Zoomerang.

Ask about the many things thatinfluence employee satisfaction such as:

• compensation
• benefits
• advancement potential
• work hours
• training programs
• flexible working conditions
• telecommuting
• job-sharing
• office environment and work tools

If you've never done an employee satisfaction survey, the results will probably surprise you. But they’ll help you determine how to cost-effectively offer the work environment that will keep good people.

4. Evaluate your managers The CareerBuilder survey found that 25 percent of workers were dissatisfied with their immediate supervisor. Poor managers are the bane of your retention efforts.

The employee satisfaction survey should identify problem bosses. Then work to correct the problem areas.

Good managers communicate the vision and value of IT with employees. They remove barriers to their employee’s successes. They work on skills development programs and create formal or informal mentoring programs. They provide clear guidance on roles, responsibilities and rewards.

If your managers aren’t up to snuff, get them training or move them out. Your own lack of action may cost you even more employees in the long run.

5. Promote from within Promoting from within demonstrates to employees that you reward hard work, can boost productivity, and help with team collaboration and staff retention.

Establish lists of soft and hard skills for the required positions and responsibility levels with your employees, so they know exactly what to shoot for. Establish a solid employee performance evaluation around these lists, and use it as criteria to promote.

6. Perk up the perks Well designed and executed an employee benefits plan has to include health insurance and generous retirement options. But additional perks can make the difference between retention and a farewell party.

If you can, offer a menu of perks. On campus fitness centers, team building/bonding experiences such as talent shows, or company-philanthropic programs may appeal better to younger workers who get a kick out of extending their college-like experiences in the workplace. Those with families may appreciate more flexibility in work hours to help them balance work-life responsibilities.

And don’t forget spot rewards. Make sure your managers have “goodie drawers,” filled with inexpensive gift certificates, certificates of appreciation and time-off vouchers so they can immediately reward an outstanding job.

7. Make the work more interesting Most technology professionals want new challenges that help them update skills or they’re liable to head for the exit. Share company direction openly and honestly with your employees. You’ve hired skilled professionals; ask frankly for their advice and you’ll not only spark their interest, you’ll probably also receive great ideas.

Talk with them about what they’d like to do, and what they see as the “next big thing” for their talents. Give them access to training and remind their managers that ever

3. Conduct regular audits of job satisfaction Are you measuring the job satisfaction among your workforce? If not, start now using third party employee satisfaction measurement services, such as he Hay Group and WebSurveyor.com, or design your own survey. Then plan regular audits every year.

Formal third-party surveys have the advantage of assuring your employees of anonymity, improving response rates. But you can also create your own survey using services such as Zoomerang.

Ask about the many things thatinfluence employee satisfaction such as:

• compensation
• benefits
• advancement potential
• work hours
• training programs
• flexible working conditions
• telecommuting
• job-sharing
• office environment and work tools

If you've never done an employee satisfaction survey, the results will probably surprise you. But they’ll help you determine how to cost-effectively offer the work environment that will keep good people.

4. Evaluate your managers The CareerBuilder survey found that 25 percent of workers were dissatisfied with their immediate supervisor. Poor managers are the bane of your retention efforts.

The employee satisfaction survey should identify problem bosses. Then work to correct the problem areas.

Good managers communicate the vision and value of IT with employees. They remove barriers to their employee’s successes. They work on skills development programs and create formal or informal mentoring programs. They provide clear guidance on roles, responsibilities and rewards.

If your managers aren’t up to snuff, get them training or move them out. Your own lack of action may cost you even more employees in the long run.

5. Promote from within Promoting from within demonstrates to employees that you reward hard work, can boost productivity, and help with team collaboration and staff retention.

Establish lists of soft and hard skills for the required positions and responsibility levels with your employees, so they know exactly what to shoot for. Establish a solid employee performance evaluation around these lists, and use it as criteria to promote.

6. Perk up the perks Well designed and executed an employee benefits plan has to include health insurance and generous retirement options. But additional perks can make the difference between retention and a farewell party.

If you can, offer a menu of perks. On campus fitness centers, team building/bonding experiences such as talent shows, or company-philanthropic programs may appeal better to younger workers who get a kick out of extending their college-like experiences in the workplace. Those with families may appreciate more flexibility in work hours to help them balance work-life responsibilities.

And don’t forget spot rewards. Make sure your managers have “goodie drawers,” filled with inexpensive gift certificates, certificates of appreciation and time-off vouchers so they can immediately reward an outstanding job.

7. Make the work more interesting Most technology professionals want new challenges that help them update skills or they’re liable to head for the exit. Share company direction openly and honestly with your employees. You’ve hired skilled professionals; ask frankly for their advice and you’ll not only spark their interest, you’ll probably also receive great ideas.

Talk with them about what they’d like to do, and what they see as the “next big thing” for their talents. Give them access to training and remind their managers that ever

The employee satisfaction survey should identify problem bosses. Then work to correct the problem areas.

Good managers communicate the vision and value of IT with employees. They remove barriers to their employee’s successes. They work on skills development programs and create formal or informal mentoring programs. They provide clear guidance on roles, responsibilities and rewards.

If your managers aren’t up to snuff, get them training or move them out. Your own lack of action may cost you even more employees in the long run.

5. Promote from within Promoting from within demonstrates to employees that you reward hard work, can boost productivity, and help with team collaboration and staff retention.

Establish lists of soft and hard skills for the required positions and responsibility levels with your employees, so they know exactly what to shoot for. Establish a solid employee performance evaluation around these lists, and use it as criteria to promote.

6. Perk up the perks Well designed and executed an employee benefits plan has to include health insurance and generous retirement options. But additional perks can make the difference between retention and a farewell party.

If you can, offer a menu of perks. On campus fitness centers, team building/bonding experiences such as talent shows, or company-philanthropic programs may appeal better to younger workers who get a kick out of extending their college-like experiences in the workplace. Those with families may appreciate more flexibility in work hours to help them balance work-life responsibilities.

And don’t forget spot rewards. Make sure your managers have “goodie drawers,” filled with inexpensive gift certificates, certificates of appreciation and time-off vouchers so they can immediately reward an outstanding job.

7. Make the work more interesting Most technology professionals want new challenges that help them update skills or they’re liable to head for the exit. Share company direction openly and honestly with your employees. You’ve hired skilled professionals; ask frankly for their advice and you’ll not only spark their interest, you’ll probably also receive great ideas.

Talk with them about what they’d like to do, and what they see as the “next big thing” for their talents. Give them access to training and remind their managers that ever

If you can, offer a menu of perks. On campus fitness centers, team building/bonding experiences such as talent shows, or company-philanthropic programs may appeal better to younger workers who get a kick out of extending their college-like experiences in the workplace. Those with families may appreciate more flexibility in work hours to help them balance work-life responsibilities.

And don’t forget spot rewards. Make sure your managers have “goodie drawers,” filled with inexpensive gift certificates, certificates of appreciation and time-off vouchers so they can immediately reward an outstanding job.

7. Make the work more interesting Most technology professionals want new challenges that help them update skills or they’re liable to head for the exit. Share company direction openly and honestly with your employees. You’ve hired skilled professionals; ask frankly for their advice and you’ll not only spark their interest, you’ll probably also receive great ideas.

Talk with them about what they’d like to do, and what they see as the “next big thing” for their talents. Give them access to training and remind their managers that every employee should be taking advantage of your training programs.

One tried-and-true solution: establish a mentoring program. Pairing new employees with more senior employees in other departments provides an important alternative to the management chain, and may also bring fresh ideas into unexpected places.

Create regular task forces to tackle real problems facing the company, and ensure that they’re rewarded for coming up with solutions.

When all is said and done, your ability to retain employees comes down to the same factors that influence their success under your leadership.

Your workforce will stay because you respect their opinions, communicate well, create an atmosphere of trust, and generally demonstrate through action that you care about their professional growth and work-life balance. Employees who have a stake in the company's future are more likely to stick around and enjoy it.