Attracting and Retaining IT Talent: What's a Company To Do?LINCOLNSHIRE Lincolnshire (lĭng`kənshĭr), county (1991 pop. 573,900), 2,662 sq mi (6,895 sq km), E England, on the Humber estuary, the North Sea, and The Wash. The county seat is Lincoln. , Ill.--(BUSINESS WIRE)--Aug. 2, 1999-- Many companies hope paying more will be the "silver bullet silver bullet - magic bullet " to solve their IT retention issues, but while compensation is important, it's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have not the only answer, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Hewitt Hewitt may refer to:
- Get Competitive. Specialists in hot technologies are, and will
continue to be, in high demand. As a result, unprecedented
raises, sign-on bonuses, etc., are now considered standard. Don't
let historical pay scales hinder effective negotiation.
- Rethink Total Compensation. "Pay matters," Young said, "But pay
alone does not make people happy." Focusing on non-pay offerings
such as unique benefits is giving top American corporations a
decisive, strategic edge.
- Get Employees' Input. Finding out what's really going on in the
company may include ferreting out the real reasons employees
leave. "Exiting employees may say they're leaving because of pay
they can't refuse, but what had them looking or receptive to
offers in the first place?" Young said. "You have to discern
what's the motivation behind an employee leaving. Rarely is it
just money."
- Partner with Key Departments. To effectively package company
offerings, managers are encouraged to forge partnerships with the
HR department, IT management, and recruiters (if applicable).
These departments are usually the first to spot trends and
competitive activity. Also, determine if recruiters are gathering
applications from within closely associated industries or from
business-at-large. Competition for "hot" IT talent is global and
not limited to individual industry sectors.
- Regularly Review Compensation. Timing is everything. As a result,
successful IT employers are reviewing compensation packages at
least twice a year, and continually upgrading and/or abandoning
outdated programs.
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