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4 ways your competitors are stealing your IT talent

Sharon Florentine | Nov. 21, 2014
Savvy companies are shopping for talent in what is arguably the best place to find it -- their competition. As the talent war heats up, poaching tech professionals is becoming increasingly common. Here's how it's done and how to stop it.

"Companies that acknowledge and accommodate the fact that their talent has a life separate from work tend to have more engaged, loyal and productive employees, says president Shravan Goli.

A March 2014 study from surveyed tech pros and found benefits and perks like flexibility, free food and the ability to work with cutting-edge technology were key drivers of their decision to take a new position. "With approximately 2.9 percent unemployment rate in the IT industry, companies must get creative to attract and keep their top talent. Perks and benefits are one way they are looking beyond compensation," says Goli.

Offering Better Monetary Incentives
Your talent is one of your business' greatest assets, and if you're not doing everything you can to ensure they stay happy, especially where compensation is concerned, you could lose them - and be at a competitive disadvantage, according to the U.S. Small Business Administration.

"All companies have valued employees - those they can't afford to lose because of their skill, experience and commitment to their work. One way you can help them resist the temptation to stray is to show that you are invested in their future," according to data from the SBA.

The SBA advises giving these employees one-on-one time with management, discussing their professional goals and their importance, and sharing the company's vision for continued growth as well as the employee's role in that growth.

In addition, the SBA says, offering meaningful pay increases, a generous bonus structure and/or compensation like "long-term incentive plans tied to the overall success of the business, not just individual performance, can also send a clear message to your employees that they have a recognized and valuable role to play in your business as a whole."


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