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How to Increase Remote Employee Retention

Employees leave their jobs. No matter if you are a remote or a traditional company, if you do not take an active role in retaining your employees, they will likely leave. If you want your company to be successful, you need to retain your top talent. However, many companies do not know how to do it properly.

By keeping your top talent with your company for longer, you increase the sales of your products and services, significantly improve customer satisfaction, your employees are happier and more satisfied, and you can make more precise succession plans.

Remote

Failing to retain a key employee with your company could be costly for your company, both in a financial and organizational sense. Studies show that replacing an individual employee costs almost times the annual salary of that employee. The cost includes both lost revenue because of the employee leaving and the cost to hire and train a replacement employee.

Start Cultivating a Remote Culture

In a remote environment, the location is not an essential determiner in a remote company’s success. What is critical for building a thriving remote company culture that will positively affect employees and improve your retention are careful planning, great leadership, and a bit of foresight.

Great remote company culture starts with the hiring process. If you want to attract and keep top talent, you need to be upfront about your company’s work. Put in the front what makes your company unique and what are the skills your employees already possess.

Related:- JOB REQUISITION: ALL YOU NEED TO KNOW

Establish a Mentorship Program

Mentorship is essential for all employees, but especially remote ones. Mentorship programs are an excellent way to build a sense of belonging and collective accomplishments, as only teams invested in helping their team succeed are teams in it for the long run.

By introducing a mentorship program in your company, you will have more engaged and supported employees. Make sure you reward those employees that will mentor their teammates. Provide them with all the necessary resources to mentor their colleagues effectively.

Introduce a Flexible Working Arrangement

Perks are a huge part of why employees stay with a company or leave it. Studies even show that a majority of employees would instead pick better benefits over a pay rise. If you want your employees to stay with you for longer, you need to pay attention to what they want.

Flexible working is one of the top demands for all workers, remote or not. It can improve the motivation, performance, and engagement of your employees, leading to better company loyalty and employee retention.

Related:- 9 PILLARS OF AN EFFECTIVE HIRING PROCESS

Reward Your Employees for Achieving Their Goals

One of the best ways to keep employees longer with your company is to follow their progress and reward them when they achieve specific goals.

By knowing how to monitor work from home employees, you will be able to follow their progress on projects and tasks. Knowing how to monitor work from home employees will also be useful in following through with their goals.

To recognize outstanding goals and high performing employees, you first need to have clear performance markers. By rewarding those employees that deliver and even overdeliver on their individual goals, you will create an environment of constant growth in your company.

This will help employees feel more valued and should keep them longer with your company. The rewards you give to your employees can include everything from gift cards, dinner coupons, to even additional vacation days, depending on how serious you are about the performance markers.

Final Thoughts

If you want to keep your employees working for your company, you often need to revisit your employee retention strategy at least once a year. You need to continually update your practice and keep up with the latest trends in developing a positive workplace culture that will attract and retain top talent.