Workforce Retention Vs. Pay Inequality
The Current Management Dilemma
The interaction between economic and technological forces is revolutionizing the traditional work environment, creating a relentless demand to get to market faster with superior products and services, while raising productivity and lowering costs. Add to this effect the fact that over 50% if enterprise initiatives fall short of their objectives or fail completely. This is taking place in an environment where IT productivity continues to drop. The result? Continued attrition and turmoil in the IT workforce.
If that were not enough, consider management’s need to understand and explain the escalating market value of advanced-skilled IT workers, and the equally rapid decline in value of many traditional enterprise responsibilities, as IT-based solutions usurp time-honored tasks, positions and responsibilities.
These realities are driving high-skill IT professionals who understand the supply-demand algorithm as well as management, to increasingly choose independence and self-direction. Management’s dilemma: IT workforces deliver essential work and new knowledge that drives competitive advantage, so management must motivate its IT workers, whatever their status. The risk: loss of vital corporate IT knowledge as advanced-skilled IT specialist become more valuable and increasingly independent.