Employee engagement retention strategies by tech companies in India
The need to align HR with the company’s business and its strategy has become more vital than ever. Financial markets exert relentless pressure for growth, especially in emerging markets. Customers demand better service at a lower cost. Cost-efficiency, resource conservation and regulatory compliance have become issues for almost every organization. Turnover among top talent is expected to increase in 2020. Globalization is requiring stronger regional HR capabilities and demographic shifts across the world.
The tech companies across the globe are not just innovating their products and services, but also the way the organization functions. Engagement and commitment of the employees aligned with company’s goals, leaders of the organization plays an important role to the company’s success and to internal communication channels.
The IT sector is one of the most rewarding sectors when it comes to employee benefits, flexible work hours, learning & development, employee growth and recognition. However, the level of detailing, focus and productivity it demands is unparalleled.
As per various studies, data center outsourcing business in India is said to grow at about 25 percent CAGR, to a $5 billion market by 2023-24. This translates to a huge investment in workforce and human resources by companies in the data center business. It goes without saying, keeping the employees in the industry happy and engaged is paramount. The challenge faced today is that the data centre industry has become more demanding towards employees primarily with the regularities of network attacks, data privacy, data hacks and breaches, illegal data collection amongst others.
Tech companies today focus on creating a positive environment for its employees that encourages their growth and development without losing focus on controlling the competitiveness. Such actions by the organization ensure an optimistic company atmosphere, where employees can work and collaborate together as a team. Beating the traditional hierarchical structure, tech companies now define roles more loosely with minimum pressure and competitiveness. Such setting makes ensures that each employee feel like a valued asset to the organization with efforts to limit the barriers for creative and collaborative thinking.
It’s a known fact that people are more connected today than ever through their digital identity. So why not use this to promote overall value, good sentiment amongst employees through social networks. For instance, a number of global tech companies have very active intranet and social media groups where employees are encouraged to share their stories, journeys, funny incidents and highlights of various team events etc. This creates a sense of belongingness and pride amongst the employees and helps to knit them in a close cultural set up.
In order for employees to feel like their voice is heard, management obviously need to demonstrate that they care and are listening to what employees have to say. Tech managers in the new tech companies are supportive and constantly seek feedback from their employees. This is because they appreciate that the next big idea can come from anyone, and not just the senior most or the so called “HiPPO” (i.e. the “highest paid person in the room”). This system where the communication and teamwork plays a vital and where the management wants to pay very close attention to each and every member of the organization who is dedicated towards the team effort and organization growth is the next thing in the sector.
Finally, companies need to acknowledge that employee retention is an important aspect towards development and growth. This needs to translate to a more considerable budget towards learning and development. A lot of companies hire experts, industry veterans, and specialists on quarter/ bi-annual basis to build capabilities, competencies of employees so they add more value and stay relevant in the dynamic scheme of things.