Tackling Attrition: Top Strategies for AECO Companies to Retain Talent

Does the situation of employee retention in your company resemble “The Revolving Door”?

Well, the truth of the matter is that most AECO companies are facing this issue of employee attrition. People are continuously joining and leaving companies for various reasons such as better work opportunities, a holistic work environment, competitive salary, and work-life balance. While employee attrition is an integral part of the workplace ecosystem, an alarming increase in the number of people leaving organizations has put the AECO industry in a fix.

A survey conducted in 2021 by Monograph suggests 36.5% of AECO companies experienced a higher-than-usual employee attrition rate. Another report by Zweig Group indicates that attrition was at an average of 13.6% across the AECO industry, with higher numbers scored by architecture firms.

Why Does Employee Attrition Happen in AECO Companies?

Architecture Billing Index (ABI) states that attrition is the highest among young and mid-level seniority professionals. Below are some of the key reasons why talent retention is becoming a pressing issue in AECO organizations.

1. Lack of Appreciation

Employees are often unrecognized for their contribution to the successful execution of a project. While the senior executives still get their fair share of appreciation, the ones at the bottom of the hierarchy are left feeling insignificant. 

2. Lack of Work-Life Balance

Given the nature of its work, the AECO industry has been under the radar for prolonged working hours. Design and construction require both office and site work which cannot be contained within corporate working hours. This leaves employees with little to no personal time.

3. Negligible Scope for Career Growth

Young employees are often hired for their expertise in 3D visualization tools which limits their ability to experience other facets of design and execution. Thus, employees find it challenging to think about their future in the company.

4. Absence of Leadership Opportunities

As creative beings, AECO professionals want to be heard. They want to lead projects and be a part of the decision-making team so that they can perform at the optimum level. The lack of leadership opportunities discourages them to take more responsibility.

5. Lack of Technology Adoption

Technology is revolutionizing the AECO industry to be more agile, cost-effective, and smart. Employees in companies who are avoiding the adoption of new technologies such as BIM, AI, and XR are finding their workspace irrelevant.

What Can Organizations Do About it?

Hiring talent requires significant investment of resources and to see that talent walk out of the organization too soon is disheartening. Here are some fundamental ways through which AECO companies can reduce employee attrition

1. Provide a Healthy Work Environment

Create a workspace that is encouraging, dynamic, and holistic. Allow employees to maintain work-life balance by analyzing their output based on work completion instead of punching hours. Make provision for rejuvenation spaces that employees can utilize during work breaks.

2. Invest in Technological Tools

Make your organization tech-relevant by embracing softwares BIM and AI. These technologies are touted to be the future of work in the AECO industry. When employees witness such infrastructure upgrades, they are more likely to stay around for being a part of the updated ecosystem.

3. Provide Room for Growth

At the time of hiring, inform the candidate about company hierarchy and how their role in the organization. Speak about how you expect them to climb up the ranks and how this will impact the growth of the company.

4. Give Due Credits to Employees

Acknowledge the efforts of your employees because there is no better encouragement booster than that. People who feel respected, heard, and appreciated are more likely to feel satisfied with their work. 

5. Encourage Idea Sharing

Let employees think out loud. Host multiple brainstorming sessions and idea bootcamps to make even the last person in the hierarchy feel like they are contributing to the project. This will help the workers to develop a sense of belongingness toward the company and its people.

How Can Novatr Help You?

Novatr is bridging the talent gap in the AECO industry by providing highly skilled BIM professionals at zero cost for helping companies save time, money, and resources on hiring.

Professionals enrolled in our courses are trained by BIM industry experts, in line with the industry standards, and equipped with international project experience. By hiring from Novatr, you will be able to employ people who are secure about their talent and have the ability to align themselves with the larger purpose of the organization. These people will be able to better adapt to the company environment and work more efficiently. Eventually, such professionals will be more productive and fulfilled about their work.

Head over to our Hire from Us page and discover your zero-cost gateway to hiring top BIM talent.