PUT TECH FIRST Most people are in tech because they’re passionate about solving complex problems and being on the cutting edge of new solutions. When you create an environment where employees can work on the challenges that motivate them and feel free to share their ideas, you foster a sense of ownership in the work that feeds their passion. More ownership leads employees to produce better work, find more creative solutions to problems, and gain a greater sense of loyalty to their company. These practices are essential in today’s work climate, where burnout happens often and employee turnover may surge as the pandemic subsides. CLOSING THOUGHTS Companies need to be proactive to retain talent when tech giants come knocking. Before the pandemic, that was only likely to happen when giants like Amazon opened offices in your area. However, with the increasingly remote workforce, your top talent could be poached by a tech giant at any time in any place. You may not have the prestige or capital of Big Tech. Still, you can defend against poaching by cultivating a culture of belonging and growth, giving your employees ownership over their work, and emphasizing cutting- edge technology. In turn, you will attract more great employees and reap the benefits of their ongoing professional growth.
Tech giants can outspend you on fun, but no amount of money can replicate your unique company culture. Recent studies show that driving employee happiness is no more than an ideological aesthetic – it can actually have negative outcomes like increasing exhaustion and reducing joy. A desirable culture is not about perpetual happiness. It’s about having a place that feels like home with room to grow. Prioritizing a sense of belonging and development over happiness means that employees feel connected to the team – and the company at large – even when things are difficult. Tech giants can outspend you on fun, but no amount of money can replicate your unique company culture. “ – Ivaylo Guenov Concord CTO To foster a sense of belonging, each employee needs to feel respected and heard within the company. At Concord, we encourage individual teams to form their own identity. Taking control of your team culture gives employees a sense of ownership and creates a stronger bond with their colleagues. There are other, more concrete ways to ensure your employees envision a future with your company. Employee surveys, career counseling, and mentorship opportunities all help employees see how they can achieve their career goals and fit into the company’s future. Financial planning services and continuing education are impactful initiatives to cultivate a culture that supports and empowers employees. The key is to demonstrate that everyone has a growth path at your company, and you aim to help them achieve it. These efforts add value beyond just financial compensation and encourage open exchanges between different position levels, which can set your company apart from competitors with a big checkbook.
22 | Fighting the Giant
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