The report, Innovation in the Culture of Tomorrow was commissioned and conducted by Amadeus, a travel technology provider. It surveyed 2,200 professionals from eight major markets. Only 6 percent of respondents believe that their job will remain the same. Nearly all (94%) think their roles will need to be adapted. Some 24 percent of respondents believe that their employers do not invest enough in training to keep their skills current.
Nearly half (48%) of respondents ranked training as the most important retention tool. This was above factors such as reduced workload (24%), and improved work-life integration (36%). The study found that if companies do not provide training focused on new technologies, such as Artificial Intelligence, machine learning and cloud computing, attrition could increase.
Employers prefer to hire for innovation over salary
The report also highlighted the importance that technology professionals attach to innovation. They ranked it as the most important factor in selecting an employer. It even surpassed salary. The report also highlighted the importance of innovation to technology professionals, who ranked it as their most important factor when selecting an employer. This was more than five times higher than those working at non-innovative organisations (8%). Tech professionals in non-innovative companies were four times as likely to leave within the next 12 months.
79 percent of respondents said they wanted their employers to show strong DE&I credentials. AI engineers in particular placed a high priority on this issue. They rated it at 53 percent as “very” important, which is 33 percent more than the average.
The report revealed that, contrary to popular belief that tech companies require recreational amenities like ping-pong tables, technology professionals prefer environments that promote collaboration and productivity. The report found that technology professionals valued environments designed for effective collaboration and productivity. Recreational amenities such as on-site events were considered less important by respondents, with just 31 percent citing them as a factor.
Mental Health and Psychological safety in the tech sector
The study also examined the importance of psychological security. 63 percent said that they felt comfortable talking about their mental health in the workplace, while 17 percent stated they would be actively uncomfortable. Twenty percent were unsure. Additionally, 18% reported that they did not feel encouraged to be creative at work and 11% said that they were not allowed to experiment with their ideas regardless of the result.
Professor James Berry, founder of the UCL MBA, comments: “Today’s technology workforce spans four generations.” These generations have all seen how rapidly and dramatically something that was once considered constant can change. Tech professionals can be assured of progress and security by working in innovative businesses or using the latest technology.
In the study, the importance of being perceived as innovative is so great that technology professionals would take a pay cut of 21% to work for the leading brand in their industry. The study reveals two key findings – employers who want to retain talent must invest in training and development for their employees in order to become leaders in their field. Companies looking to attract top technology talent should clearly communicate their innovations.
Employee Retention: What it means and why it matters
Culture Amp’s employee experience platform has conducted a new study that suggests tech companies are losing their best performers before they can reach their full potential. The study, which analysed 462,000 employees from more than 1,500 different companies, found that the highest performance levels are usually achieved between two and six year tenures. The average tenure of a tech job is less than 2 years. Many employees leave their jobs before they reach the peak performance phase.
Jessica Brannigan, Regional Director, EMEA People Science, Culture Amp, stated, “Our analyses showed that the ideal time to stay in a position is between two and six years. This allows for maximum performance ratings.” Job tenure at the time of exit for tech industry employees is on average less than two years. Employers who have invested in their top hires may be disappointed to see them leave as soon as they begin to achieve their potential.
As companies improve processes and set clearer expectations for performance, it is easier for team leaders and managers to classify their direct reports into high- or low-performing employees. Companies can do a lot to encourage employees who are exceeding expectations and meeting their managers’ expectations to reach the top performance tier. They can also give them new opportunities to raise hands and recognize their achievements.
