Hunker down against talent poaching with a strong workplace culture

This week in Tech in Asia Jobs shares insights into how successful companies operate, hire, and more.

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On the face of things, a self-branded Smart Nation like Singapore should have a ready supply of bright-eyed, bushy-tailed graduates competing for ICT job vacancies. As any HR manager in the sector can attest to, however, the local tech industry has been weathering more than its fair share of recruiting troubles.

In 2014, Singapore’s Infocomm Development Authority (IDA) reported that 15,000 vacancies in the ICT sector were unable to be filled, a figure likely to increase to 30,000 by this year. And on top of this talent crunch, many ICT companies in Singapore are bleeding from the time-worn but ever-evolving practice of executive poaching. A 2015 survey bestowed the dubious distinction of having the highest rate of talent poaching in the world on Singapore. Small wonder then, that Singaporean employers (and ICT companies in particular) are finding it difficult to both attract and retain top talent.

Resolving the talent crunch will take a long-term effort from both policy-makers and key industry players, but preventing the few good men and women on your team from being poached is a task all companies can address on their own. And we don’t mean by serving up your employees with a stack of non-compete agreements and non-solicitation contracts. Studies have shown that such preventive measures may stifle motivation and hurt performance.

Instead of making it difficult for employees to leave, why not try building a workplace environment that they won’t want to leave? It’s a case of the proverbial stick and carrot – except this carrot has significant advantages over its stick counterpart.

A positive workplace culture does wonders for boosting productivity and morale, to say nothing of keeping employees happy, satisfied, and willing to stick around. If the competition is offering your top talent more money than you can afford, it’s only the intangibles that can keep them from leaving. So what are the hallmarks of a positive workplace culture, and how can you use them to build a poach-proof team? Here are 5 characteristics to help you get started.

1. Open communication channels

Platforms exist for employees to air their concerns, and for employers to communicate organizational goals and visions. Larger companies should certainly look into implementing regular open meetings, while startups with smaller teams can opt for informal lunchtime chats or even water-cooler conversations. Employees need to know that you’re willing to listen to them at anytime, as well as take time out to explain the direction the company is heading in.

2. Skills and training opportunities abound

Your star employees are stars for a reason: they are high-performing individuals with a need to continuously challenge themselves. Promotions and higher paycheques aren’t going to stop them from leaving if they find the work tedious and uninspiring. You could, for instance, try rotating these star employees across different departments and teams, thereby exposing them to skills they wouldn’t usually come across in their current field of work.

3. Bosses pay attention and take action

There are usually warning signs when an employee is considering jumping ship (e.g. decreased motivation). Bosses of companies with positive workplace cultures recognize these signs and take proactive steps to resolve them. Be extra vigilant during major milestones for your business, such as the launching of a new app or breaking into a new overseas market. That’s when employees are most likely to reevaluate priorities and expect recognition for contributions.

4. Employees feel appreciated

Nothing kills a good working relationship like being taken for granted. Employees are less likely to be poached when they feel that their work is valued and valuable. A simple ‘good work’ or ‘nice job’ can go a long way, though you certainly shouldn’t stop at mere verbal affirmation. Organize a company cohesion or sponsor high performers for the next Tech in Asia conference (wink); you might also choose to offer employees shares in the company. Get creative with how you show your appreciation – monetary compensation isn’t the be-all and end-all.

5. Work-life balance

A positive workplace environment is also one which doesn’t force employees to be perpetually present. Everyone has a life outside of work (even those who claim they don’t!), so recognizing and allowing time for these non-work commitments can make staying at your company a much more attractive prospect. That higher-paying job at a rival company will start to lose its sheen if it doesn’t also come with telecommuting perks and childcare benefits.

Lastly, remember that some people will leave, no matter how much you try to engage them meaningfully. Any grudges or bad feelings generated by the departing parties should also leave with them. A world in which the only things that get poached are your eggs for breakfast sounds wonderful, but, alas, exists only in the realm of imagination.