Despite the technology industry’s reputation for constantly teetering on the “bleeding edge” of innovation, new data shows that tech companies are actually falling behind in the very thing they need most: How they motivate and engage their employees.
In every industry, CEO’s say their top challenge is developing their bench of next-generation leadership. Yet a staggering 78% of HR leaders say that their leadership development programs are only moderately effective or worse. The DDI Global Leadership study, in partnership with the Conference Board and Ernst & Young, shared that leaders in tech are twice as likely to turnover than other industries — and here are a few reasons why:
Tech career paths are unclear.
A mere 64% of leaders in tech understand their own career paths — which is 14% less than leaders in other industries.
Tech isn’t building development plans.
A mere 33% of leaders within tech companies actually have a development plan. That’s in stark contrast to 65% of leaders across all other industries.
Tech isn’t talking about development.
32% of tech leaders report never meeting with their managers to discuss development!
In Tech, professional development is too DIY.
Tech companies rely too heavily on internal coaching and self-study – a DIY approach – despite this being the least preferred method of development.
We’ve put together a resource for HR leaders in Tech on how to improve their performance management programs. And if you’re ready to take the first step toward helping your organization build a motivated workforce, we’re here to help! Drop us a line and we’ll help you get started and be there every step of the way.