An August report on IT turnover rates from Computer Economics leads with the following interpretation of its research: Flexible schedules and training opportunities can be just as effective at and important to keeping you at a job as money and benefits.
Do you agree? What's important to you?
The annual survey bases its research on responses from 200 IT executives in the United States and Canada, and suggests that perceptions are that IT turnover rates are pretty high, even though the three-year trending has turnover pegged at about 5 percent at the median and 10 percent at the 75th percentile.
In its executive summary, CE suggests that 5 percent is an acceptable turnover rate. But the more interesting data in the piece comes later, which has to do with correlating all the different factors affecting turnovers and finding some common ground. Here are the factors:
- Education and training opportunities
- Flexible schedules
- Work environment
- Social environment
- Incentive pay/bonuses, base salaries
- Insurance benefits
- Employee recognition programs
- Paid time off
- Retirement programs
- Telecommuting opportunities
The issue I see here is that base salary and incentive pay are ranked high in importance, yet the correlations between training, flexibility and retention are something, the survey suggests, to which your employers should be giving more attention. Computer Economics spends some significant effort in the research qualifying that idea.
What do you think? Are you getting enough training and flexibility?