Designing a Performance Management Strategy to Retain Employees in an IT Consulting Startup

Abstract

In today’s competitive business environment, attracting and retaining top talent is a significant challenge. Developing an excellent employer branding strategy that aligns with an effective performance management strategy is critical to achieving these objectives. Regular performance appraisal is one measure that can enhance employee engagement by providing clarity about roles and responsibilities. Indonesia is expected to face a talent shortage of about nine million skilled and semi-skilled professionals between 2018 and 2030. Retaining top employees is crucial, and factors such as compensation, development opportunities, collaboration, workload, and feedback are critical to employee performance. A proposed performance management strategy for the IT Consulting Startup includes developing performance objectives, differentiated compensation, and regular feedback. By implementing these recommendations, the startup can retain top talent, create a positive workplace culture, and drive organizational success.