Remote working and virtual offices have now become more popular than ever, especially in response to the pandemic. Both small and large companies are planning to adapt this work regime on a more permanent basis too. The Executive Centre has been a pioneer in providing virtual offices for businesses in the UAE, and are aware that the needs of a conventional office space and virtual office are not the same. These principles apply when it comes to retaining remote workers compared to in-house staff.
According to recent reports, on average, employee turnover can cost at least 16% of an annual salary for a low managerial level employee and around 213% of a yearly salary for an executive. Thankfully, there are some solid strategies that you can execute to improve the odds of retaining your remote workers. Here are 5 such strategies.
Although it can be tempting to overlook and hire an employee when you need immediate help, hiring the right employee can significantly improve your retention rate. One of the main reasons employees choose to leave is when they can’t meet the job’s expectations. So make sure your company’s job description reflects the objectives expected from the advertised position. Then, streamline the selection process through suitable assessments, in a way that will eliminate unfit candidates; thereby funneling only potential candidates who can perform in the organization for longer.
Give Enough Focus To The On-Boarding Process
The onboarding process in virtual offices is ineffective just through a series of zoom calls explaining what workers should do and how a company works. You should reimagine the onboarding process to suit remote workers. Many remote workers choose to leave either because of lack of facilities, mainly equipment or poor support to help with technical difficulties. So make sure that your onboarding process asks: Do employees have what they need? Is there equipment they lack to perform the job? How they can access technical help or support? Addressing these concerns make it convenient for remote workers to clear their problems and not feel left out or helpless. This thereby increases the retention rate of remote workers.
Create Opportunities To Connect In Person
Whenever possible, create opportunities to meet remote workers in person or face-to-face. While remote working has its own set of benefits for both employees and employers, once in a while, bonding and connecting in person is essential to reactivate and add more enthusiasm to work-life. Remote workers can easily get bored when they have to perform routine tasks every day of the year without the experience of a corporate work environment or work relationships. This can make remote workers want to switch to a conventional workplace. So even if it’s a few times a year, try to fly team members to one place, organize a retreat or even an annual dinner to help remote workers strengthen their relationship and trust with other team members.
Provide Competitive Pay And Benefits
With the boom of the virtual office industry, the job market for employees is constantly expanding. Make sure your company’s compensation and benefits structure is restructured to remain attractive and is on par with the industry standards. Take into consideration the benefits that matter the most to the workers and restructure benefits’ packages accordingly. This will give them a personalized experience that is not replicable elsewhere, thereby retaining employees for longer.
Show You Care
Appreciation is another key strategy that can retain remote workers. Be it offering equal access to training and development programs, facilitating them a proper work-life balance, wellness programs, and even a good combination of monetary and non-monetary rewards for good performance can make them feel appreciated and valued within your workplace. This can generate a sense of belongingness in the organization, thereby increasing their retention rates.