How Work From Home options can boost employee retention
Employee attrition rates are on-the-rise and hurting businesses. How work from home and remote work policy can help improve employee retention?
One of the very crucial factors that dictates the growth of any business is its workforce. Having a stable, reliable and skilled workforce is the dream of every employer. This is the age of opportunities, and people are exposed to so many technologies, enterprises and businesses that finding the right talent as per the needs of a business is very difficult, and retaining talents become even more difficult.
It is 2020 now which means 50% of the current workforce is populated by millennials, and by 2025 this percentage is expected to go to 75. Millennials' needs from life, work are totally different from that of any of the earlier generations, and the attrition rate is expected to constantly rise in all businesses as more millennials enter the workforce. To tackle this, we have to look at some alternate employee retention tools, and an option to work from home can be one.
A large section of the workforce across the globe are working from home right now. Although many enterprises were earlier skeptical about letting their employees work from home, the prevailing pandemic has prompted them to take the leap now to keep their businesses running.
The remote productivity is emerging as the new normal and can pay rich dividends, be it a lock-down situation or not. Organizations that are tweaking their work policies and focusing more on anytime, anywhere productivity, would have better access to talent pool and an increased employee retention rate than others.
Re-balancing the line between work and life
Most jobs demand employees’ availability in office for more than just 9 hours. Many a time, employees would need to attend meetings and calls even when they are not in office. The working hours have long exceeded the time employees spend inside their office cubicles or on the desks, blurring the line between work and personal life significantly. By letting employees work from home or anywhere else, organizations can allow them to strike a balance.
Distraction-less work hours and Focus
If an employee is totally prepared for working from home, with a set workspace for himself and routine, the chances of distraction are far less, compared to an office space. In an office, staying focused for long may not be possible because of the distractions that fellow employees may cause. But in the home atmosphere, employees tend to put in more focus on work for longer duration.
Avoiding the time-consuming commute
Most Indian cities are overpopulated. The commute from home to work is a time-consuming and energy-draining routine by itself. In big cities, employees spend over 2-3 hours in traffic every day. The time saved on commuting to and from office everyday can be converted into productive hours, leaving employees with enough time to spend with their family or friends. Also, employees would be mentally in a better space by spending those extra hours in doing things that they would not have been able to do otherwise because of the long commute.
The feeling of empowerment
By letting employees work from home, enterprises can instil a sense of trust and confidence in employees. And as long as the work is being done on time, enterprises should have nothing to worry about. Employees would feel more in control of their own work and empowered, boosting their morale and improving productivity. It’s a win-win situation for both employers as well as employees.
Organizations that are adapting themselves to remote work culture sooner would stand a better change to attract the best talents in coming days and retain their bright minds, reducing hiring costs and attrition rates.