Retaining Technical Talent
By Liz O’Donnell (Boston)
According to a recent report by the Anita Borg Institute (ABI) for Women in Technology, “Retaining a Diverse Technical Pipeline During and After a Recession,” top talent is at risk of disengagement during a recession and should be considered a high flight risk when the recovery starts. Dr. Caroline Simard, vice president of research and executive programs for the Anita Borg Institute and author of the study, cautions that while companies undergo cost-cutting measures to weather a downturn in the economy, they should protect the practices that support a healthy work/life balance. Otherwise, they may experience a spike in turnover when the economy improves.
It makes sense. Often the “survivors” of layoffs are burdened with more work and no extra pay, if not reduced pay, as employers cut staff in order to maintain profitability. The team that remains can experience significant stress from bigger workloads and longer hours. And at the same time that job demands increase, benefits and perks often disappear. While no more free coffee may be disappointing, no more flex time can put pressure on an employee trying to manage childcare, elder care or health issues as well as a career. And the loss of professional development programs such as training and mentoring can lead to cynicism and disengagement from once motivated employees. Simard says these conditions create “a perfect storm” and increase the likelihood that talent will leave once they get the chance.
Management should take heed. This is not just about disgruntled employees who are ungrateful to have jobs. There is a significant risk to the companies that do not manage the situation. Simard says this “perfect storm” can make maintaining a diverse workforce a challenge. For example, women often seek employment at companies that offer work/life balance. And diversity can lead to enhanced group performance, increased creativity and innovation and better problem-solving. The other risk for organizations is the incredible cost of recruiting and training personnel. The estimated cost of turnover is 1.5 times the cost of an employee’s annual salary. These estimates do not, however, measure the loss of knowledge and the ramp up time while new employees acclimate to the organization.
The risk is very real says Simard. “There is a huge growth of movement on LinkedIn. Women are realizing I really do need to be connected. Everyone has updated their resume.”
As Simard states in the report, “Even in companies that have not had to resort to downsizing as a response to the recession, the current economic client fuels increased feelings of insecurity for all employees, leading them to engage in ‘pre-emptive’ job searched and networking.”
She says that while these women may remain in the technology industry, opting for non-corporate jobs or joining different organizations, young women entering firms will look up the ranks and see no women role models. This can make it different for organizations trying to attract, new, young, diverse hires.
Simard offers these strategies and recommendations for hanging on to key talent despite the economic roller coaster:
- Develop and sustain a culture of employee development and mentoring
- Promote programs for leadership and technical growth
- Establish vehicles for peer-interaction, mentoring and collaboration
- Offer increased opportunities for flexibility and work-family balance practices
- Leverage technology to create virtual workplaces and telecommuting options
- Support managers that understand the value of diversity and flexible workforce arrangements
- Develop and sustain a culture of collaboration
However, she cautions that, “Talk is not action. Having a policy in place doesn’t mean it is part of the culture,” she says. “You have to have behavior modeling at the executive level. The worst kind of flex programs are the ones that are just for women. Put teeth behind the processes.”
For example, Simard recommends making mentoring part of an employee’s evaluation process. “If an employee doesn’t mentor others, it should hurt their chances of promotion. You need broad participation –not just women mentoring women. There are not enough to go around. It must be cross-gender. Flexibility in an economic downturn is tricky, but work/family balance is not just a women’s issue.”
The Anita Borg Institute provides resources and programs to help industry, academia, and government recruit, retain, and develop women leaders in high-tech fields. The full report is available at www.anitaborg.org.
