Rate of replacement of employees in firms is very high. Delcie D. Beab IV, CEO of Paragus, claims that they have done everything possible to ensure that their employees don’t depart from them. Even after giving employes unlimited paid time off and stock ownership plan, employees also left. Paragus company lost about 10 to 15 % of its employees every year. Research by LinkedIn proved that IT industries turnover was approximately 13% while the tech industry was the highest at 13.2%.
Youthful workers tend to be lured in IT firms. This possesses a significant threat in the industry. Some eventually quit working in the firm since they feel it wasn’t meant for them. Others acquire experience later to be given a job in a big company with a huge salary. Delcie admits that when one worker left, it was a big blow to them and had to come up with a plan before it was too late. Delcie held a talk with colleagues to understand and have a grasp as to why people left and to come up with a solution to prevent such cases. Paragus company competed with giants and raising salaries wasn’t the best solution.
LEARNING TO WORK WITH TURNOVER
Since raising salaries wasn’t the best idea, Delcie embarked on a contrary view. They decided to embrace and accept that Turnovers will always be there, and had to be open-minded about it. Compensating workers who quit their jobs amicably and honoring them by creating a wall of fame was one way of tackling the problem. Farewell parties were put to celebrate their efforts. A four-team member was designed to serve customers so that they wouldn’t feel the effect of one quitting the job.
In the recruiting process policies and expectations were set cleary. They were open to interviewee of not being able to give them huge salaries. Still, they would acquire a lot of profit from employee stock ownership plans and also that fun perks and video games were around during breaks. Delcie claims that this was of great importance as from 2016 te acceptance rate for the job has been steady at 99% from 98%.
BUILDING CAREER LADDERS
Planning and professional development are of considerable significance, according to Delcie. And to make sure that employees felt appreciated, they came up with a career ladder that workers need to follow based on their skills and experiences so they can be promoted. Culture IQ helps in tracking how happy employees are with their environment and that they pay a lot of attention to factors that motivate satisfaction. Delcie added that every worker that has left for the past five years, has left emotionally satisfied.
