Talent Acquisition & Development Innovation Lab
November 8, 2018
November 8, 2018
Highlights from the Lab
STEMconnector’s Senior Director of Product Development & Research Erin White shared an overview of the STEM talent retention landscape and provided insight on key drivers of attrition that companies can work to correct.
Some key data points from her presentation include:
70% of employees say training and development opportunities influence their decision to stay with a company, and 87% of millennials say PD and career growth are significant factors to even accepting a job.
Unfairness-based turnover in tech is a $16B per year problem – and nearly 2/3 of leavers indicate they would have stayed if their employer fixed the toxic culture.
Companies that invest in employee training enjoy a 24% higher profit margin than those that spend less
National Grid’s Director of Talent Acquisition, Cynthia Angulo, shared the many ways National Grid is working to better understand their workforce, and the programs and opportunities they have implemented to develop their pipeline. Programs include the Engineering Pipeline Program for high school students to translate their interest in STEM into future careers in engineering, and their Graduate Development Programs which targets recent college graduates and prepares early career professionals for future leadership roles within the organization.
“Programs like our Summer Intern program or our many STEM partnerships allow us to engage not only our existing workforce, but the future one as well. – Cynthia Angulo, National Grid
Thoughts on Corporate Culture:
Drivers of Attrition and Successful Approaches to Retention:
- Stay Interviews
- Trailing Spouse Programs
- MWM Daughters Program