The IT industry is notorious for its high turnover rate of employees. In fact it has gotten to the point that most companies don’t expect to keep IT personnel for a longer than around 18 months when they hire them. If you’ve ever worked in software or IT you would certainly be familiar with phrases such as “… none of us are gonna be here 2 years from now …” or something along those lines. I believe it has almost become a self-fulfilling prophesy, since no-one expects IT people to hang around for long, most of them don’t.
Of course the industry itself is partly to blame. It is still a very young industry and growing rapidly, which creates a lot of new opportunities and being by nature a fast-paced field it creates perfect conditions for people to “jump ship” whenever the fancy strikes them.
Despite all of this I believe there are many things you as an employer can do to keep your staff for longer and it is certainly in your best interest to do so. The hiring process is expensive and time consuming and you still don’t really know what you’re getting. Most importantly however, domain knowledge is not something you can easily replace. It takes years to acquire business and technical domain knowledge and it should certainly be high on your list of priorities to not loose the employees who already have this knowledge. Especially not to your competitors!