Before you judge me… read on…
The rate of change is exponentially outstripping supply in the tech labor market. It happened with the #internet in 2000, the #cloud in 2010 and now #ai. There are too few people with skills who can add business value.
In my career I have noticed that long tenures generally disadvantage employees but favor employers. The only way to rebase your worth to market rate is to move (Generally you are paid as little as you will accept – it’s just business). Skill stagnation begins as the tech-stack begins to age immediately. Training is seen as a perk, not an investment. Unfortunately, loyalty is career suicide which is not right!
My 2 longest employee stints have been 6 and 5 years. It was difficult to get back into the market as my tech skills had stagnated and I was asked what salary I was on, not what I should be on.
Companies need to lift their game re. perks, flexibility, WfH, etc to retain talent or your staff will leave for one that does. This changes per person depending on their life-cycle. As a young man in London, $$ was attractive. Now I have 2 kids and flexibility/WFH are more important to me (sitting on a bus benefits no one).
So to all employers; how do you encourage your staff to stay, are you investing in their training and are you paying them a fair market rate?