Let’s start by looking at the bad news: Employee turnover is expensive! It’s estimated that in order to replace an employee, it can cost employers 6-9 months of that employee’s salary. A high turn over rate can significantly impact a company financially. This is just one of the many reasons’ employers should devise a superb strategy to improve retention. This process begins by looking at why remote employees leave. Many of the top reasons are preventable.
Before COVID-19, the feeling of burnout was a reality but now employees are dealing with the stress of a global pandemic on top of work-related stressors. This feeling of burnout can be very common among remote employees and a reason they might look to jump ship. To avoid employee burnout, employers need to take a proactive approach. This starts with distributing work evenly amongst team members. Managers should lead by example and strive for a work-life balance while encouraging their team members to do this same. This includes setting boundaries, taking frequent breaks, and using paid time off to recharge.
Company Culture is another common cause behind employee turnover. The popular saying goes, “People quit bosses, not jobs.” For remote employees, company culture is primarily communicated through interactions with coworkers and managers, so it is very important to create a supportive environment from the beginning. Fostering a positive, healthy company culture is an ongoing process. Training and open lines of communication can empower employees to share opinions and ideas. This can help create a more inviting culture and retain top talent.
In today’s employment environment, employees are constantly looking for professional development opportunities. Many employees will leave a role they once loved due to the lack of development or upward mobility. Frequently remote work can be autonomous in nature, but this doesn’t mean remote employees don’t want to feel like their employer isn’t invested in their future. Working remotely can increase employees’ anxieties around being a valued team member and their future within the company. Professional development requires continued commitment by the employer and is ongoing throughout an employee’s tenure. Strong employee development plans can be helpful tools in driving continued growth. It is important for managers to work closely with employees to develop a plan tailored to their interest and skillset. Offering employees, the opportunity to assist on projects outside of their normal daily routine is another great way to increase professional development within the team.
Finding a high-quality employee is invaluable and in today’s remote working environment, employers cannot doubt the value of finding a top-notch remote employee. Remote employees save companies money, provide talent that isn’t available locally, and boost productivity levels. Remote work seems to be here to stay, once employers find a great addition it is worth taking action to make sure those employees stick around for the foreseeable future.