The conversation around employee turnover, tightening talent markets, and rising concerns about employee retention are only increasing in the enterprise circle.
While the cost of employee turnover can be as much as 2.5 times an employee’s salary, turnover has other associated costs as well – lower productivity, reduced employee engagement, and cultural repercussions.
The payoff for creating an environment that fosters employee engagement and aids retention is something that almost all organizations are gunning. An organization culture that focuses on employee retention sees higher employee morale, increased productivity and performance, and improved quality of work.
Fortunately, employee turnover is not something that has impacted Wissen. Our core team and a majority of employees have been with the organization since its inception back in 2015. What was it that we are doing right that we were not plagued by this employee turnover crisis that most organizations are battling?
We spoke to our employees about this and here are the reasons they provided:
A technologist’s paradise
Most of our employees labeled our organization as a technologist’s paradise. Given our employees are all passionate technologists, a key attraction for them is the prospect to work on cutting-edge projects involving enterprise systems and large and complex datasets. That they design solutions for some of the top Fortune 100 companies across a range of industries like banking and financial services, healthcare, telecom, manufacturing, and energy is an added attraction.
The technologists also get to work with high-end technologies such as RPA, cloud, mobility, Artificial Intelligence, Machine Learning, Big Data Analytics, Visualization, and business intelligence which keeps them driven and excited.
While we give our employees this high-tech playground, we also understand that not all technologies want to move into people management roles. But to avoid this from impacting career progressions, we have clearly defined career paths that are designed to meet the development needs of technologists and managerial candidates separately.
An Enabling Environment
A LinkedIn Workplace Learning report stated that 94% of employees will consider staying in a company if it was invested in their career development. At Wissen, we believe learning to be a great enabler of work, and enablement at work translates to higher productivity, better outcomes, and invested and engaged employees.
Wissen literally translates to “to show, to teach, to inform, to guide & to direct”. We believe in diversity of ideas, thoughts, perspectives, and worldviews and are big fans of teamwork and collaboration. We make sure that our employees are on a journey of continuous learning through our robust learning and development initiatives. Some of the things that our employees appreciate are:
- Our initiatives to help employees constantly update and upgrade their skills and capabilities to help them in their professional paths.
- The range of activities we conduct to drive professional development such as providing company-sponsored certifications, organizing internal tech forums, and practice groups.
- Encouraging participation in hackathons, cross-functional and cross-technical training, and delivering instructor-led training programs for advanced technology topics, etc.
Along with this, senior technical resources act as guides and mentors to those less experienced and ensure that learning remains a part of our culture.
Dynamic Career Progression
We focus on instilling a sense of responsibility, loyalty, and trust within our employees by continuously empowering and enabling them. Being a growth-focused organization, we have steered clear of archaic systems that link career progression with only experience or tenure. Instead, growth opportunities are based on talent, passion, ownership, and the ability to deliver results. This has been a great driver of employee engagement across the organization.
Employees who demonstrate a ‘growth mindset’, are highly accountable and invested, and are driven to never let the ball drop are recognized and rewarded. So, a software engineer who is an individual contributor can easily move fast up the growth ladder and become a director responsible for growing revenues and driving profitability easily by just being performance-focused and growth-oriented.
It is Not All Work and No Play
All work and no play makes Jack a dull boy. We recognize that while an indelible professional focus is essential for growth, only being work-focused is the recipe to have highly disengaged employees. Our employees consider the balance between work and play and the efforts that we take to bring an element of ‘play’ in a rather serious work environment a big motivator that helps them remain engaged and invested at work.
From allowing our employees to challenge their inner Messi’s and Ronaldo’s with football matches or encouraging them to unleash the MasterChef in them, or hosting Women’s Day celebrations, the many fun-filled activities that we organize over the year make sure that our employees are always refreshed and charged up to come to work.
Surprisingly, most of our employees also put the internal ideating competitions and the several hackathons we organize in the play bucket stating that these kept monotonies at bay!
Knowledge Sharing and Free-thinking
Our company culture is deeply rooted in the principle that knowledge is power, and when shared, power is multiplied. The employees greatly value this aspect. They cited that this environment that promotes knowledge-sharing and enables better decision-making has been a key attraction to stay tied with us.
Most employees love the fact that knowledge-sharing is not an amorphous concept at Wissen. There are regular brainstorming sessions to empower employees and encourage them to think freely without fear of judgment.
We encourage open and ongoing collaboration. To facilitate that, employees can take up roles that are completely different from their existing ones, they are free to work on new technology according to their choice and available opportunities. We also encourage knowledge sharing by fostering cross-functional conversations and actively seek to bring people with different functional experiences to work towards a common goal.
The fact that top ideas generated through internal competitions or one-on-one sessions are rewarded and stand a chance to be converted into accelerators is the added incentive that our employees love.
Wissen is a focused company working on niche technologies for clients across the world. The organization has grown its revenues by 400% in just five years and has moved from two big clients to become trusted partners to lead technology transformations for 18 Fortune 500 companies.
This organizational growth would not have happened had we not hired the right resources to join our tribe of passionate technologists. From the onset, we have had a stringent recruitment and hiring process to ascertain that the technologists who join us are the right fit, both professionally and culturally.
Our employees possess a comprehensive technical vocabulary and deep-tech knowledge. They are excited to work on both modern and legacy technology and also on large, complex, and distributed systems. They are domain experts and are also business-oriented. As such, they can capably design systems, processes, and workflows to enhance and improve business functions.
Our objective is to do things right the first time around, whether it is coding or hiring. And we can safely say that our efforts have been fruitful, especially as our employees reward us with their loyalty.
Wissen is a Great Place to Work – Says the Great Place to Work® Institute (India)