What do you do to hang on to talented IT staff? According to the results of a recent survey from Robert Half Technology, the most frequently cited method is to show them the money.

The IT staffing firm polled 1,400 CIOs about the most effective ways to boost retention. A full 27% chose increased compensation. Another perennial favorite technique for satisfying the ranks is to provide professional development or training, which garnered 21% of responses. This is especially important in IT when technology changes at a fast pace and employees must keep their skills current.

Next in popularity was offering flexible schedules to workers, as cited by 18% of IT leaders. Telecommuting came in at 7%, followed by extra vacation days or time off at 6%. And 2% suggested granting company stock or options as being most effective.

“Attractive pay is always a key selling point for IT professionals, but it’s only one element of an effective retention program,” said Katherine Spencer Lee, executive director of Robert Half Technology. “Creating an attractive corporate culture, which includes everything from training to work/life balance programs, is crucial for keeping valued employees, especially when the hiring environment for highly skilled professionals is competitive.”

Robert Half Technology suggests the following steps for improving retention rates:

* Pay competitively. Benchmark salaries against industry-standard ranges to make sure your salaries are keeping pace.

* Offer and promote training. Give employees access to the classes and certification programs they desire, as this will aid in professional development.

* Encourage a work/life balance. Give them manageable workloads to prevent burnout and have workers ask for help when needed.

Amy Schurr is the former managing features editor of Network World.