Blog Text

How can SaaS companies retain top talent?

SaaS companies strive to give their employees the best benefits packages, they aren’t afraid to pay a premium for talent, and they offer some of the most flexible working options of any industry. So why are tech companies struggling to keep their people, and what can they do about it?

Companies are seeing employees leave sooner. One in four employees would leave their current job for a 10% raise, according to our Employee Engagement Report. Employees aren’t afraid to hunt for a better situation at another company.

Why are tech companies famous for their generous perks?

Google and Amazon have some of the lowest retention rates, according to PayScale, both averaging tenures of around one year. It’s not because they’re bad places to work — in fact, they’re routinely rated as the best places to work.

The reason is that the tech industry is extremely competitive. Every company is competing for the most talented employees. Offering a generous package is intended to keep those employees around longer. As we saw in our 2016 Tech Report, turnover in this industry is growing stronger day by day.

Some Interesting facts:

1 in 4 employees would quit for a 10% raise elsewhere

Nearly 70% of all the employees do not feel they are completely fulfilling their job role

Not even 1 in 3 employees feel valued in their job

What can make you keep your employees?

Did you know that a recent study found that 78% of today’s business leaders rate engagement and retention as one of their top concerns? With so many leaders across the globe invested in this topic, we had to dig in and see what was driving (dis)engagement.

In all, we found seven major trends impacting workplaces around the world