As someone who’s led tech startups, turned around failing products, and now mentors founders across Toronto’s startup ecosystem, I’ve seen one issue silently kill scaling companies repeatedly: employee turnover. Developing effective employee retention strategies can be key to overcoming this challenge.
That’s why this episode of Tenacity with Sonia C was so close to my heart.
I sat down with Francie Jain, founder and CEO of Terawatt Group Coaching, to explore what it really takes to build cultures where people want to stay and, more importantly, where they can grow. Francie has built an entire company around solving the retention crisis through affordable, expert-led group coaching. The data behind her work is eye-opening. If you’re a founder or tech leader wondering why your top performers are leaving or how to prevent the next one from walking out the door, this one’s for you.
The $4M Problem Most Startups Ignore
Reducing Turnover Starts with Professional Development
Francie dropped a stat that stopped me in my tracks:
“The average cost of turnover for a 500-person company? Over $4 million a year.”
And yet, so many companies still treat professional development like a nice-to-have. The truth is it’s a retention strategy. Terawatt’s approach is simple but powerful: pair companies with vetted coaches specializing in leadership, growth, and communication, then track the ROI of those sessions like any wise investment. As Francie says, “This isn’t just about soft skills. It’s measurable change.”
Why People Really Leave Jobs
It’s Not Just About Money
We discussed a trend I constantly see in tech: young developers and talent-jumping jobs every 12–18 months. The logic? More money, faster titles.
But Francie and I both agree that this only works for so long. Eventually, that pattern raises red flags for future employers and prevents real growth. As a founder, when I’m hiring, the first thing I look at on a resume is tenure. Loyalty matters, not just to the company but to your own development.
“You’re not just working for a paycheck. You’re investing in yourself, and your next big opportunity.”
Leadership Development = Culture Transformation
Real Retention Strategies from the Inside Out
Here are a few actionable takeaways from the episode that every founder should take:
- Start with a survey. Understand what your team wants and needs to grow.
- Pilot group coaching. Run a beta program with a single team and track results.
- Make L&D measurable. Tie professional development to business outcomes, not gut feelings.
- Invest early. Waiting for turnover to spike is like waiting for the fire before installing alarms.
One of my favourite things Francie said was that companies need to think of coaching as a shared investment that benefits both the employee and the business.
What I’ve Learned from Building and Leading Teams
Growth Happens When You Stick Around
I shared some of my own early experiences on the podcast, starting in manufacturing, learning everything hands-on, and eventually entering tech. I stayed with my first company for 7 years, not because it was easy but because I was growing. That foundation allowed me to later run Konverge and build two global startups, MenuSano and Field Eagle, from the ground up.
That kind of career trajectory doesn’t happen when you’re chasing shiny titles. It happens when leaders create an environment that nurtures growth, allows failure, and values long-term commitment.
Final Thoughts: Stop Chasing, Start Building
From Turnover Crisis to Team Loyalty
If you’re a founder in tech, especially here in Toronto, don’t underestimate the power of a strong internal culture. You don’t need more perks. You need purpose. You need leadership development. And you need to invest in the people already showing up for your vision.
🎧 Listen to the full episode: Building Cultures Where People Stay and Grow on Spotify, Apple Podcasts, or all other platforms Here!
And if you’re serious about reducing turnover and scaling with purpose, this episode is your blueprint.
