Following the COVID-19 outbreak, remote working has become more common in many companies. More employees now view the permanent adoption of working remotely as a deciding factor when it comes to sticking with a company after almost two years of doing so. One in two employees won’t even consider returning to employment that doesn’t allow for remote work, according to Owl Labs’ State of Remote Work Report.
A growing number of employees are requesting remote work, and 88 percent of HR leaders concur that finding and retaining the right talent is essential to reducing turnover. Employers should think about creating ways to increase remote employee retention when 73 percent of workers plan to leave their current position.
Common factors behind employee turnover:
A departure is often the result of an accumulation of several problems that have compounded and left them with no choice but to look for a job elsewhere. Employees can quit their job for many reasons, like moving away or changing careers.
The majority of events or situations that cause workers to quit can be avoided. Additionally, you can recognize the signs that an employee is about to quit and take steps to resolve their problems. While it’s hard to completely prevent employee turnover, there are many things you can do to improve workplace morale and make sure the environment promotes your team’s success and growth, which can enhance employee engagement and retention.
The biggest reasons for voluntary turnover are:
Lack of work-life balance/Burnout:
People’s lives are busy and unpredictable, which has increased the demand for flexibility in working hours. To ensure that you allocate the proper jobs to the right people and fulfill their requirements, keep this in mind when making scheduling decisions or hiring new employees. For jobs where it makes sense, you might also want to look into flex scheduling and work-from-home opportunities.
Poor management/work environment:
To succeed in their positions, employees must suit the managerial style and business culture. This includes management practices, managerial styles, communication styles, and work styles (such as agile versus waterfall). In other cases, a manager or other senior employee needs to be placed on an improvement plan because they are at fault.
Limited career advancement/Lack of recognition:
People must be aware that there is room for professional advancement within the company to remain motivated. Additionally, if they believe their achievements are not valued, this adds to their job discontent and motivates them to look for a new position.
Dissatisfied with pay and benefits:
People struggle to focus at work when they are worried about their health or how they will pay their bills. They will either perform poorly at their current job or look for employment with a company that would give them more financial security as a result. Make sure your employees are paid enough to cover their bills and be happy.
Strategies for remote employee retention:
Identify the causes of turnover:
“An employee may decide to leave their employer for a variety of reasons. Eighty-two percent of workers mention a lack of development as their top reason for quitting their job, followed by low pay, poor benefits, lousy leadership, and rigid schedules. By figuring out these reasons, businesses may put a plan in place to reduce turnover.” Says Tiffany Payne, Head of Marketing at Replace Your Docs
Create flexible working arrangements:
“Employees are drawn to flexible working arrangements because they give them the room they need to be productive. Managers cannot expect employees to spend the entire day in front of their computers because they are working remotely. Offering flexible work schedules is essential in today’s workplace culture to encourage employees to maintain a healthy work-life balance. Improved employee performance, greater engagement, and staff retention are a few advantages of flexible work arrangements.” Says Jay Soni MD of Yorkshire Fabric Shop
Leverage the right technology:
“Your company’s productivity will increase if you pick and use the correct software stack, which helps make employees’ jobs a lot easier. Employees can have a more seamless working experience with the right software and processes. Your one-stop shop for enabling employees’ self-paced learning is a digital adoption platform. Your remote employees can receive training on any enterprise software using interactive software walkthroughs made by a digital adoption platform. without overburdening your remote employees.” Says Joanne King, company director at ICMP
Don’t micromanage your employees:
“Working remotely has a lot of benefits, including autonomy. Getting a project, finishing it at your own pace, and then using the remaining time to either accomplish new projects or focus on honing your talents has intrinsic worth. The following allurements that increase employee retention result from allowing your workers to flourish when you don’t micromanage them.” Says Paul Somerville, Editor-in-Chief at Electric Scooter Guide
Offer competitive benefits:
“Companies that provide competitive pay and benefits can experience a 56 percent drop in attrition. Companies must adjust to the changing and rising needs and expectations of their workforce in light of the constantly shifting nature of the labor market. Allow them to select their perks; most people are aware of what they want, and this is also true of benefits. You may make better choices about the types of perks that should be offered by talking to your employees about what they would like from them. Employees can feel heard, appreciated, and valued if they are given some choice over that.” Says Hamza Usmani, Head of content at Believe Money.
Offer talent and career development:
“Most employees want to grow professionally, get better, keep learning new things, and increase the value they provide. It’s just as important to provide training and career development for remote workers as it is for those employed in conventional offices. Employee retention is improved by providing resources for employees to learn and advance in their careers, which ultimately saves your business money by enabling you to hire internally for intermediate and senior jobs.” Says Alex Constantinou – MD at The Fitness Circle