Q: Tech talent is hot. So what is the secret sauce to retaining tech talent?
Prerna:
Tech talent is hard to find, so perhaps it is no secret that employees expect a fair compensation and benefits scheme. As a minimum, companies will need to offer a competitive package and regular pay rises.
But pay aside, talented individuals also scan employers for many other factors before deciding if they want to stay long in a job. One is company culture, especially a culture that is open, collaborative and positive. Another is simply the technology – tech talents want to be in an environment with opportunities to try out new technology. Finally, what kind of opportunities are there for them to grow in the company? This matters hugely as well.
Q: Tell me more about company culture. How does company culture affect how long tech talent stay in a job? What does good company culture look like?
Prerna:
A strong sense of culture has a direct impact on performance and mental health. And it's a known fact that people who are happy in their roles and performing well, stay longer.
Company leaders play a huge part in directing company culture. Nobody wants to work for a bad boss, but a good manager will have good retention rates.
Sheryl:
I agree – a strong culture helps employees feel that they fit in and are part of a team that shares common goals. Retention is about creating an environment where employees want to stay because they feel valued and important to the organisation.
Companies that get this wrong often commoditise their staff and tend to forget the importance of camaraderie and close bonds within the organisation. Companies that have good retention have teams where there is a strong sense of connection and purpose, and leaders and HR heads must invest in bringing this about in alignment with their vision and values.
This begins with a tight induction process when they are first hired, with effective and transparent review and evaluation cycles. Only then will they make their business a magnet for competent, motivated, and loyal staff.
When candidates and employees have a culture and competency match, they are more likely to stay with the company and work in the best long-term interests of the company.
Teck Yong:
At Shopee, we place huge emphasis on developing our employees. We make sure our employees, from the most senior down to the most junior, get the chance to hone their skills, both technical and non-technical, in order to become well-rounded individuals. Besides on-the-job training by respective team leaders, we develop our employees through organised training classes, mentorship programmes and peer-to-peer learning.
For instance, our mentorship programme allows experienced professionals to guide our younger colleagues in personal and professional areas. As a base incentive for getting together, for example, we provide funds for mentors and mentees to utilise when paying for meals together.
Whilst we trust that our experienced professionals have much to offer, we believe everyone, regardless of seniority, has something special they can share with others. This inspired Shopee Academy’s “Brown Bag Lunch” series, where employees do a show-and-tell on a chosen topic. Whether the focus is on soft skills or an interesting passion project, employees are welcome to share their knowledge and experiences with fellow colleagues during an official lunchtime presentation.
This ground-up culture of learning is crucial to our company’s growth, as it rewards employees for taking ownership of learning and educating.
Q: Apart from developing a good company culture, tech companies are also renowned for great employee benefits – do these matter much to keeping tech talent happy?
Prerna:
Yes, employee benefits are important, as they have an impact on a few different areas of personal and professional development. For instance, wellbeing benefits such as a gym membership, yoga at the office, or running clubs impact personal health, whereas opportunities like conferences, events, or training impact career development.
These are especially important when it comes to maintaining a flexible work arrangement. Don’t forget, working in tech is difficult and challenging. As such, a flexible working arrangement and interesting team-building programmes help improve team morale, and other benefits like free lunches or shuttle services save the employees money. These can help boost the attractiveness of working in a particular company.
To put it simply: If you had two identical job offers, and the difference was better benefits, which would you choose?
Teck Yong:
Fundamentally, we envision the workplace to be where employees can come together to build meaningful connections - within and outside of the company. This guiding principle is reflected through our corporate benefits, employee engagement events and activities, perks, and office fixtures.
While it is important for our workers to continually challenge themselves, we think it is equally important to provide an inviting and comfortable work environment. The office has a large central café where our employees can enjoy a wide assortment of free snacks, drinks, coffee, and fruits, to keep them energised throughout the day. We also provide cereal and toast for a light breakfast usually, and offer a more filling option on Mondays. For those who stay late in the office, we provide on-demand dinner free-of-charge every night.
We also have pods available for a power nap, and a massage room with our own in-house masseuse. Employees are welcome to take the occasional snooze in the Nap Room, which is made up of six sleeping pods, with curtains for privacy. Our software engineers, who often work late into the night to build and scale our tech systems, find this particularly useful. Employees can also make appointments with the in-house masseuse up to twice a month – it’s no surprise that this service is always fully booked!
