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techsuch May 9, 2021 0 Comments

Employee Engagement and Turnover in the Tech Industry [New Report]One of our fastest growing and most valuable industries, the technology sectoris a vital source of innovation for all businesses. And in an industrycentered on information more than physical products, the most essentialresource is people. So measuring employee sentiment is just as important asany sales forecast or market evaluation.We looked at employee survey responses from 14,439 tech employees in a one-year period between April 1, 2015, and April 1, 2016 in order to see how theirworkforces are faring. Our questions ranged across all dimensions of employeeengagement and retention, measuring how workers feel about their companies,managers, and job satisfaction.To give the data context, we compared these responses to ones from 8,174 techemployees in the period between April 1, 2014, and April 1, 2015. We alsopulled responses from 60,983 employees across all other industries in the2015–2016 period in order to create a benchmark of general employeesentiments.The most eye-catching and concerning of our findings is how likely employeesare to leave their current companies. When asked if they would be at the samecompany in one year, the tech industry was less likely to say yes than otherindustries — or the tech industry average from last year. Every lost employee exacts a cost on their company. The Society for HumanResource Management finds that the total cost of replacing employees rangefrom 90% to 200% of their annual income. In the tech space, where so many of acompany’s resources reside in the minds of their employees, this estimateshould perhaps be even higher.Click below to find out what factors are impacting engagement and retention inthis industry.RELATED POSTS:

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