Total reward approach used to counter retention issues in IT market

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Total reward approach used to counter retention issues in IT market

Companies are increasingly taking a total reward approach to counter retention issues, according to a survey by consultants Watson Wyatt.

"Our study three years ago showed that base pay was the main tool that companies used to retain IT staff," said Elaine Devonshire, a consultant at Watson Wyatt. "Our most recent study shows that the creation of training and development opportunities and flexible working are now the key retention methods companies are adopting. Indeed, we have found that eight out of ten professionals say that the ability to work flexibly would encourage them to remain in their current jobs."

Recruitment difficulties

One in two UK companies surveyed say they are experiencing difficulties in recruiting IT staff. This compares with a figure of 35% experiencing such difficulties a year ago. Recruitment activity for IT staff is increasing, with 62% of companies in the study saying they are actively seeking new IT staff.

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Title: Survey of Information Technology, Watson Wyatt.

Methodology: The report provides information on levels of pay and benefits within the market for IT positions. Over 270 companies provide information on roles spanning from head of IT to data administration.

Availability: For further information about the survey contact Elaine Devonshire at Watson Wyatt, email: elaine.devonshire@eu.watsonwyatt.com

Watson Wyatt is a global consulting firm specialising in employee benefits, human capital strategies, and insurance and financial services. It has more than 6,000 associates in 88 offices around the world. For more details visit www.watsonwyatt.com

Posted 22 November 2004