Employee Loyalty and Company Culture

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:

1) Company 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 

5) Upward Mobility- ISI has a history of creating new positions and opportunities for talented employees.   

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!!! 

Posted by Jay Myers at 4:52 PM