Tech’s employee attrition problem#
Employee turnover is one of the major issues affecting tech companies today. According to a Linkedin study, the tech industry has the highest turnover rate out of any sector at more than 13%. According to the US Bureau of Labor Statistics, the turnover rate is double the industry average for tech startups. It can take months to get a new employee up-to-speed and able to contribute fully. Moreover, recruiting and onboarding a new employee can take up to nine months worth of the employee's salary. Thus the inability of the tech sector to keep its employees motivated to build and grow within the organization is a huge challenge for every organization.
There are numerous reasons for the high attrition numbers across the industry. A big driver of the short tenure of employees is seeking more responsibility and being able to understand the “why” and the impact of their work. Too often, developers work on tickets and issues without a sense of real purpose, as they are far-removed from the actual end-user. They do not have direct access to the customer, and their teams are isolated from customer-facing ones. They become too project-oriented, and lose the sense of the “why” behind the product. They do not have any sense of what commercial and business impact the list of work items they are working on is having on the organization. Over time, the monotony of their day-to-day and the lack of real sense behind their work cause them to look for other opportunities, costing businesses tens of thousands of dollars per employee and months of lost productivity.
How DevRev will be the critical platform to retain and motivate employees#
This is where DevRev comes in. DevRev is building the world’s first Developer CRM that is breaking down organizational silos, and connecting makers to their end users as they build, operate, support and grow their businesses. Through the DevRev platform, every work item that the developer is working on can be brought under a single operating system that directly ties the work to customer impact. The developer is able to see exactly the source and the “why” of an issue or ticket that was generated, and how exactly the code that is worked on will enhance specific parts of the product. Hence, the developer is able to track in real-time the direct impact of the work item on the end-user and what exact parts of the product are being enhanced. Furthermore, the maker will eventually be able to see the direct commercial impact of the work item, as the issues and tickets will be enriched with commercial data such that the revenue/contract-value that will be captured by the completion of the work will be visible to the maker. DevRev will serve as a unified product and customer system of record, enabling the developer to prioritize work based on customer impact, focus on what really matters to delight the end-user and capture the business impact of each work item. There will be no more status meetings as every customer touchpoint and product enhancement will be linked together. As a result, DevRev will empower makers to directly tie every single work item to real customer impact and capture the “why” of their day-to-day. Product teams will move away from project-centricity towards product-centricity and track in real-time the direct impact they are having on their end-users. This will be a key driver for businesses to keep their employees motivated and satisfied. The end result will be a hungrier team working towards a unified vision and much better employee retention for the company.
Tech workers are more mobile than ever. Hybrid work is here to stay and demand for top talent will continue to grow. As a result, retention of top talent should be a major priority for every tech company. One of the keys to reduce attrition is to keep employees motivated by showing them the impact their work has on their end-users and the commercial metrics of the business. DevRev’s first-of-its-kind DevCRM platform will connect the makers to the customers, remove artificial siloes between teams of the organization, and serve as a central system of record that will connect every issue and ticket directly to customer impact. DevRev will thus become a critical platform for businesses to keep their teams aligned, motivated and customer-centric. The end result will be a much more coherent workforce and much higher retention numbers for the company.