Employee Retention and Turnover in IT Project Teams

Nowadays human capital is one of the most valuable assets for any innovative company, especially a knowledge-based one. IT is a highly competitive and rapidly developing business sphere, where company’s success significantly depends on employees’ performance. Therefore, a strong team of high-skilled professionals is a crucial competitive advantage for any IT organization. Thus, in order to create productive work atmosphere and support harmonious team functioning, it is important to create the most appropriate for company’s specifics employee retention system. This study is aimed to evaluate the factors influencing the employee turnover and retention rates in project teams working in the Saint-Petersburg Development Center of an international IT Corporation. A set of recommendations for employee retention system adjustments is developed based on achieved results. Surveying and interviewing are used as the main research methods in a framework of a case-study, to analyze managers’ and team members’ points of view on the issue. Even though the research focuses on a particular company, the main results and findings can be applicable to organizations with similar structure and corporate culture. Keywords: employee turnover; employee retention; IT Corporation; multinational company; HR management.