Do companies really know what it costs them to hire a new IT employee? How does that compare to the price of retaining an existing team member? Many companies shy away from the idea of implementing a formal retention plan because they fear it will cost too much and take too much effort, but could that tedious and sometimes costly process really save the company time and money in the long run?
According to James Del Monte (IT Employer Information), "On average IT professionals change jobs every 2 to 3 years. Younger professionals tend to change even more frequently, and in many cases they opt for project-based work as opposed to long-term employment altogether. This constant churning, which is in large part caused by the ever-changing nature of the industry, leaves most companies in an endless battle against turnover in their IT department, regardless of market conditions."
The cost of losing employees is extraordinarily high versus the alternative of giving them training (see pictures below).
OHTec gives its members an opportunity to hedge against the cost of employee loss by offering a discounted Emerging Leader training through ERC. View the training schedule here.
Time and seats are limited. To receive your OHTec member code, please reach out to me ASAP at firstname.lastname@example.org or 216-592-2396.