Software & Technology Services

Let's look at a Software and Technology Services company in Colorado as an example of how to attract and retain top talent. Jeff, the CEO of this $2 billion enterprise software and services company based in Denver, Colorado, had a desire to attract the most qualified candidates that will stay with the organization. Before Jeff joined the company two years ago, the turnover rate was 63%, which was unacceptable to Jeff. He engaged with ThriveVance to clarify what it takes to change the company culture, reduce attrition, and improve recruiting the best talent. Like many other organizations, this company engaged in activities to attract and engage its employees, such as fancy offices, a gourmet cafeteria, free lunches, and beverages.

We encouraged Jeff and the team to focus on the most critical factors to employees, the elements that inspire and retain them. These factors are often less transactional and more transformational. Such as a culture of inclusion, not just in diversity, but in what the company does and the results that employees contribute to, processes that make getting things done fast and easy, and excellent rewards for people who live the organization's values. The data showed that Jeff's employees wanted a deeper connection with the company's purpose. They want to be part of a team that takes civil responsibility seriously, and what they do is something meaningful. They want to feel included and belong to be part of a culture that encourages and appreciates employees to bring their very best selves to work every day.

In 2020, Jeff and his team set out to transform the organization from a technology-centric culture to a people-centric one. Their efforts rebranded the company, both externally and internally, as an organization dedicated to making the workplace work better for people internally and the services work better for their customers externally.

Accordingly, Jeff and his team have built a culture valuing diversity and have taken dramatic steps to foster inclusion in every aspect of the workplace. Diversity and inclusion are not a check-the-box matter; instead, they are talent strategies. As we gathered, synthesized, and analyzed the data, leadership discovered that their employees aren't very different from their customers. So, they deployed many of their products internally to make onboarding and routine administrative activities more accessible and faster. The processes are people-centered and focused on offering growth and development. People are treated like adults with a sense of personal responsibility and accountability without a lot of clutter or nonsense to get in the way of getting things done.

Additionally, adopting the work-from-home model and unlimited paid leave time practices makes it easier for employees to have a work-life balance, supporting a culture of productivity, not face time. These practices allowed leadership to present the company's new value proposition to employees and potential recruits, which proved particularly valuable amid the pandemic.

Jeff and his team's approach has not gone unnoticed. When we surveyed the company's employees, 81% of respondents indicated they would recommend the company as a great workplace. This level of employee advocacy puts the company in the top 5% of employers globally. And they have reduced attrition to a record low of 25%.