SBA 438: What If They Leave

The Smart Buildings Academy Podcast | Teaching You Building Automation, Systems Integration, and Information Technology

Are you frustrated with the revolving door of talent in the building automation sector? Ever trained an employee only to watch them be lured away by a competitor? If these scenarios sound familiar, our latest podcast episode is for you.

Why Employee Retention Matters

In the rapidly advancing world of building automation, maintaining a skilled and dedicated workforce isn't just an HR concern—it's a core business imperative. The cost of replacing a trained technician can range from 50% to 200% of their salary. Given these numbers, the significance of retention becomes crystal clear.

In This Episode

We dive deep into:

1. The Reasons People Quit: Beyond just the lure of higher pay, what are the factors pushing trained professionals to jump ship?
2. Strategies Tailored for Contractors and Building Owners: While contractors battle in a competitive market, building owners, especially those bound by governmental pay structures, face a different set of challenges.
3. The Data Behind Retention: We'll provide statistics that every business leader needs to be aware of, showcasing the undeniable ROI of investing in employee growth and job satisfaction.

Key Takeaways

• Compensation isn't the Sole Factor: As many as 87% of millennials prioritize professional development in a job. This offers a hint for organizations: upskilling might be the key to locking in your talent.
• The Power of Non-Monetary Benefits: For governmental building owners, emphasizing benefits like job security and long-term pension plans can offset salary limitations.
• Investing in Training Pays Off: Organizations with strong training programs boast an impressive 218% higher income per employee.