Our user's client was experiencing high turnover and wanted data to help them determine the cause. The expectation of the software development firm was that they needed to raise salaries or benefits to be more competitive.
Our Solution:
They uploaded financial data and immediately completed the People survey and had a surprising discovery. What they learned was that they were on par or higher than their peers in the areas of compensation, health insurance, and retirement contributions.
The software firm decided to share the data with their employees and start a dialogue. Their employees were happy to receive this information and communicated that people were leaving because they couldn't see what their long-term opportunities were. The owners took the employee feedback, developed a comprehensive career path for employees that allowed them to see how they would benefit by staying, and implemented the new plan.
Result:
The next year, the firm grew 50% over the previous year. At the same time, they were able to cut turnover in half. Owners were very pleased they didn't just apply a knee-jerk fix of raising everyone's compensation by 10% without fixing the real issue.
