Retaining new grads is largely a function of companies being unwilling to recognize that when adjusted for experience salaries often increase 50% a year for new grads. HR departments often think 5% is a generous raise and the gap created over two years is staggering. Even if you get a promotion package with a 50% raise you end up getting something over a 25% raise for leaving (in terms of your newer higher salary).
It’s kind of shocking that we say retention is so hard it’s close to impossible when we don’t acknowledge our own processes lead to a dramatic salary shortfall. I think if we paid new engineers accurately in the first five years of their career the number leaving for new jobs would dramatically decline.
It’s kind of shocking that we say retention is so hard it’s close to impossible when we don’t acknowledge our own processes lead to a dramatic salary shortfall. I think if we paid new engineers accurately in the first five years of their career the number leaving for new jobs would dramatically decline.