Through the years, one of the many sources of pride I've
had at ISI has been the large number of tenured employees that have been
working for the company 5, 10 and even 15 years. In fact, in the next few weeks
we will welcome seven (7) new members to "the club" representing the design & engineering department (2), operations (4) and administration (1) who will join
dozens of other ISI employees who have
been with company for an extended period of time. Pretty impressive for any company
but for fast growth technology firm in 2015, it is almost unheard of! And maybe
even more impressive is the number of millennials who have been with ISI over 5
years when many of their peers have already changed jobs two or three times in
that same time period.
So what's our secret? How has ISI been able to retain
many of our key employees when other companies have experienced significant
turnover? In speaking directly to many of my employees, I have been told that
there are several reasons for employee loyalty at ISI which include:
Culture- ISI is a fun company that feels like a "big family" and
treats our employees with dignity and respect.
2) Work/Life Balance- ISI
encourages employees to have life out of the office
3) Community Service- ISI
supports programs like Education that Works (ETW), Ronald McDonald House and other programs that give back to the community
4) Creative Culture- ISI values employees ideas
(they have "a voice") and promotes a culture of innovation
Mobility- ISI has a history of creating new positions and opportunities for talented
All of the reasons why ISI employees stay with the
company is really good stuff and I admit that it means a lot to me both
personally and professionally. But there's also a practical side to this issue
as well. Employee retention also makes a ton of sense from a financial
standpoint where turnover can cost up to 65% of an employees
salary (replacement). Do that more than a
few times in a year and a company can go from a profitable year to losing money
very quickly. Not a desirable strategy for sure!
So it will be particularly gratifying in the next few
weeks to honor those 7 employees who have been loyal to me and ISI the past 5
and 10 years and who have helped to make us the company we are today.
Congratulations Julia Chrestman, Brad Kirby, Rachel Bates, Bill Cowen, Joseph
Timmerman, John Emery and Greg Nemeth. Couldn't have done it without you!!!