What makes IT professionals happy? According to a survey released April 23 by Robert Half Technology, an IT recruiting firm, the answer is really not that complicated: money.

CIOs identified increased compensation as the most effective way to retain IT staff, cited by 27 percent of respondents. Yet not far behind--at 21 percent--CIOs also knew they were really winning employees' favor with professional development or training.

"Offering employees options for building their skills enhances their effectiveness on the job and demonstrates an investment in their long-term career growth," said Katherine Spencer Lee, executive director of Robert Half Technology.

Flexible schedules, which have been widely touted in recent years as a winning retention tactic, came in third, cited by 18 percent of CIOs, with their answers spread between telecommuting and extra vacation days.