By Tino MantellaTLG President & CEO
The Times, They are a-Changin
I have the privilege of serving on the Board of Directors for Tech Alpharetta and recently attended a panel discussion on “Key Strategies for Retaining your Tech Company Employees”. The panelists, who were bright and articulate, made a case that got me thinking – “The Times They Are a-Changin”, following the theme of a popular Bob Dylan song.
When I was pursuing my MBA at LaSalle University, our Management 101 classes drilled into us that money is a maintainer and not a motivator. It seems that today money is more of a motivator. Because the talent wars are building to an unsustainable place, the panelist shared that many professionals (in this case tech professionals) are asking for uber-bumps in salary. If they are not getting it, they will likely leave to find a place that will.
Is the Money Enough?
I posed the question to the panelists that if they paid the desired rate, how long would they stay solely for that “shiny object” …more money? It seems to me that if people are motivated by money instead of purpose or fulfillment, the money buzz won’t last long and then what does a company have to show for it? This is not to say that every employee shouldn’t determine what they feel they are worth. Many may also need to seek a higher salary out of necessity due to higher costs of living, improving their standard of living, home ownership, and so on. Maybe there is a counterbalance here.
The Rise of Personal and Career Development
On April 12th, 2022, Marq Burnett, Associate Editor of Playbook, wrote an op-ed where he states there is a huge focus on calls for higher pay and more flexibility. These thoughts are consistent with the Tech Alpharetta panelists. He goes on to say that employees are also searching for educational and career growth opportunities. To validate his point, he references a study conducted by Southern Cross University where 68% of the 1,000 professionals who responded indicated that continuing skill development was important, only second to personal growth (those two points align in my mind). 30% of the respondents said they were likely to seek new employment to find continuing education.
Leading the Way
At TLG, we are also seeing a greater demand for personal development and leadership development among our clients. For example, some employees are negotiating into their agreements that they will have an executive coach. We are also seeing a growing number of companies establishing leadership development training courses for their teams.
While TLG won’t weigh-in on salaries or flexibility for people and companies, we continue to support our clients and other organizations who are investing in their employees by making personal growth and development a top priority.
Read on to discover what’s new at TLG, more thought-provoking content on personal development, and our new Client Spotlight highlighting Calandra Lee of Southern Company. View our leadership development flipbook to see our full line of services.