The data proves that minimizing employee turnover improves your bottom line. On average, companies with low turnover rates rake in profits four times larger than those with employee retention problems. This is attributable to several factors, including the costs associated with training, hiring, and onboarding new hires, and productivity lost through unfilled vacancies.
Typically, managers and companies hang on to talented employees by offering rewards such as promotions and pay increases. Money and rewards aren’t everything, so many companies work hard to implement an appealing company culture.
Today's employees appreciate work environments in which they feel connected and valued by others. As such, retention strategies have traditionally revolved around nurturing employee relationships via social events and helping workers maintain a healthy work-life balance.
So, how can you achieve this kind of healthy company culture if you have a large number of remote workers on your hands? We’ve put together some helpful tips to boost retention and morale:
Tips for boosting retention of remote employees
Reducing your turnover of employees is all about adapting to the new digital world and encouraging communication between workers. Strategies to try could include:
1. Promote video communications
Sending an email is often faster than organizing a video conference. However, over-reliance on emails and text chats can lead to a culture of loneliness, isolation, and lack of accountability. According to a recent report, 48% of remote workers miss conversing with their colleagues, while 40% miss the company celebrations that take place in offices.
To remedy this, encourage workers to use applications such as Zoom and Microsoft Teams as much as possible. The beauty of video chat is that it nurtures casual conversation and allows friendships to develop while maintaining an atmosphere of professionalism.
2. Provide a high-quality onboarding experience
Welcome new starters into the company with a seamless onboarding process. Start by ensuring employees have access to all of the tech they need before their first day and offer to purchase office essentials if necessary. This could include, for example, an ergonomic chair for employees with postural issues or a company laptop pre-installed with relevant software. You must also provide plenty of accessible information about the company and arrange welcome meetings to ensure employees get to know their peers.
3. Offer high-quality feedback regularly
Don’t leave employees to their own devices for long periods. Check-in with them and offer valuable feedback about the quality of their work. While you may believe that workers want to be left alone, this is completely false. Remote employees who receive regular feedback from their managers are three times more likely to feel motivated and engaged compared to those who don’t.
4. Run regular surveys
Are you wondering what your employees want from you? Distribute employee satisfaction surveys on a monthly or quarterly basis and use the results to improve your retention strategies. As well as helping you deliver a better experience for remote employees, this will ensure that workers feel valued and respected.
5. Help employees manage their work-life balance
While remote working arrangements can reduce commuting times and offer greater flexibility for parents, they can also make it difficult to separate work time from personal time. Women in particular face difficulties with remote working, as many handle domestic duties while at home. According to a recent survey, 44% of mothers have struggled to juggle childcare and work commitments.
As an employer, you can help workers manage their work-life balance by offering flexible hours or discounts on childcare services. You must also promote the importance of a healthy work-life balance to ensure your employees don’t suffer burnout. Encourage them to maintain a routine and don’t message employees outside of work hours.
6. Share important updates with everyone
If you juggle a mixture of remote and in-office teams, it’s all too easy to forget to keep remote workers in the loop. To avoid feelings of resentment and isolation on the remote side, distribute weekly updates to ensure everyone is on the same page.
7. Organize remote social events
An increase in remote working doesn’t mean social events have to end. Consider hosting a company-wide trivia or escape game night to help colleagues get to know each other and remember to include prizes at the end. Relaxing and unwinding at the end of a tough week is one of the best ways to boost employee morale, after all.
Jon Conelias is the CEO of Elevent. Jon has been a CFO and Operator for the past 15 years of marketplace companies focused on both B2B and B2C channels.