Competition for the top SaaS commercial talent is extremely fierce and your top executives are being bombarded by hiring firms and Headhunters. In fact, our latest survey shows that over 50% of people have received more job approaches in the last year compared to the previous. Retaining the best talent having been through SaaS European Hiring can be tough!
It is not just Headhunters approaching your staff, but direct hiring channels from your competition’s employees leveraging sites such as linkedin and xing. The net result is that your top performers are being presented with alternative job opportunities more than ever before, thus it is essential to understand why they could leave and what you can do to increase your chances of retaining them?
Enterprise SaaS Survey
The following results have been generated from our “Annual Enterprise SaaS Survey” of in excess of 450 senior European Executives, mainly CXO, VP EMEA, VP Sales, Senior Sales and Presales level and based across the UK, Germany, France, Benelux and The Nordics.
1) No Career Progression
The ‘dead-end job’ or no career progression came out as the top reason why people are most likely to leave your firm. Are companies doing enough to maintain their employee’s interest and development or are many individuals becoming bored of carrying out the same responsibilities year after year?
2) Company Acquisition
With much M&A activity in the technology world, it is not surprising that the company being sold is another top reason to leave. One moment you are working for a hot, emerging, high growth start-up, the next global player where your best efforts are hardly noticed. With many SaaS Executives seeing themselves as ‘entrepreneurs’ it is hardly surprising there is a preference to work for a smaller firm.
3) Personnel Issues
There’s an old saying: “people quit their bosses, not their jobs”.
If you want to keep the most talented members of your team, employer’s need to start looking in the mirror and realise the one of the biggest reasons why people quit has to do with themselves. So why is this? Micro-management, the boss hardly in the office, a lack of true leadership or perhaps an unexpected change of boss, someone you would never have chosen to work for during a job interview?
4) Uncompetitive Proposition
SaaS innovation and the speed of change is faster than ever before. Selecting and working for the market leader(s) who possess the next ‘killer application’ will have a significant impact on your future commissionable earnings. Working for a software firm with a me-too solution with no clear USPs is going to be a slog and make it hard to achieve your revenue targets. Having an uncompetitive solution can make SaaS European hiring extremely challenging!
The 5th reason is self-explanatory.
6) Poor Compensation / Salary
Surprisingly for some, receiving a poor salary package is only the 6th reason why your top performers are leaving your firm. If you are interested to receive our soon to be released “Enterprise SaaS Salary Guide” guide on a country by country basis, please click this link.
7) Location Issues
Our latest research shows that a good mix of being home and office based is preferred by the vast majority of B2B SaaS and eCommerce commercial Executives. Having a rigid ‘must be in the office’ policy can have a negative impact on a firm’s ability to attract and retain the best senior executives
SaaS European Hiring experts since 1999! Intrinsic has partnered with over hundreds of B2B Enterprise SaaS and eCommerce companies, assisting them with their European recruitment. Clients are often smaller to midsized venture backed companies as well as more established business looking to develop, enhance or start operations in new European territories. Intrinsic covers the USA, UK, France, Germany, Scandinavia, Benelux and Southern and Eastern Europe