Employee turnover is costly for any organization, and the turnover rate increased by 20% in 2022. Millennials are twice as likely to quit their jobs compared to boomers. Retaining top talents has become a major concern for businesses. After the COVID pandemic, remote work is now widely accepted and sought after. Experts predict that more than 25% of professional workers will work remotely by the end of 2023.
The emerging new trend is hybrid work which the employees and employers find to be ideal. According to a Mckinsey study, 20% to 25% of the workforce could work from home for at least 3-5 days a week. As companies are increasingly becoming hybrid, IT talent solutions is now becoming a strategic business component for an organisation.
With changes in the future of work and an increasing number of workers who are not hesitant to quit their job, what can HR do to attract and retain remote employees?
- Establish work policies catering to remote employees – The only way to move forward is to adopt remote work in the work culture. More than 90% of the employees will take up hybrid work arrangements if their company offers it.
- Create strategic hiring processes for remote employees – The hiring process must be changed to attract talents that can perform well in hybrid work conditions. The traditional in-person hiring process must be digitised, and virtual hiring should become more common. IT Staffing organizations specialize in attracting and onboarding the right talent.
- Develop open and transparent communication channels – Remote work is now seen as a long-term solution to achieving work-life balance. So, in the hybrid work model, both on-site and remote employees should be able to communicate effectively. The communication channels must promote engagement.
- Take care of overall employee well-being – More than 84% of company leaders understand the importance of employee well-being. Remote work has its perks, but employees can feel disconnected from their on-site team. It can be lonely for some employees as well. Employers should offer customised benefits plans for the different generations participating in the remote work culture.
- Offer growth opportunities – Remote employees should have the same growth opportunities as on-site workers. Mentorship programs to train and upskill remote workers will allow them to reach their full potential. Growth opportunities remain one of the top reasons employees want to apply for a new job.
- Provide competitive compensation packages – Even though employees are willing to take a small pay cut for the opportunity of remote work, it should never become normal. To retain top talents, your company should offer a strong compensation package with all perks and benefits customised for remote workers. The IT talent solutions partners can help you in designing such compensation packages.
Attracting and retaining remote workers is crucial but offering remote working opportunities without clearly defined policies and support will not help the virtual workforce. Every step of the hiring process, starting from the interview to onboarding and more, should be customised for remote workers. Leaders in the company should be trained to work with remote workers in a hybrid environment since 97% of employees want at least partial remote work. With the right policies and services from integrated talent solutions, employers can reduce expensive turnover and keep their employees engaged.