Telecommuting and providing flexibility in work schedules are benefits that employees are increasingly seeking and are incentives that really don’t take that much effort or cost (relative to other benefits) to implement. Not only is the opportunity to work remotely appealing to employees as it provides them with an opportunity to manage both their home and work lives efficiently, but there are a number of benefits for employers as well, including:
- High Levels of Morale = Low Levels of Stress – (A + B = C) When your employees have higher levels of morale, they are less stressed about their work, are more motivated to perform at their best, and will in turn produce quality work. Employees who are happier and healthier often have a sense of autonomy over their work, and providing them with this opportunity will help keep them engaged and reduce burnout.
- Retention and Reduction of Turnover – For many employees, when the desired work-life balance is met, there is no need or desire to seek work elsewhere as they are content in the stability they’ve established in their position. Recruitment is expensive. Employees who have flexibility are proven to be less likely to leave an organization, with this benefit often outweighing the offer of more compensation elsewhere.
- Productivity and Work Hours – A huge benefit for employers who have remote employees is the option to extend work hours. With employees working from home, work schedules can be far more flexible (e.g., an employee starting later and working until 8pm versus 5pm) which can benefit your customers and clients, particularly when factoring in varying time zones.
Making the wants and needs of your employees a priority proves to them that you genuinely care about their work and their aspirations. Granted, business needs should always be a top priority, but if you can meet your employees halfway and can offer them incentives and opportunities to grow and perform at their very best, you can reap the benefits of highly motivated, long-term employees who will remain loyal and productive.
The start of a new year provides employers with a fantastic opportunity to evaluate what is important to them as an organization. A common priority that is universal across various industries are productive and loyal employees. Without efficient employees, you aren’t likely to see the levels of profit and productivity that your organization strives to achieve. So how do you ensure low turnover and long-term employees?
Benefits. Now we aren’t talking about diamond-tier health care packages, or retirement programs that will ensure early retirement. While these benefits with a monetary focus are certainly important, employees are increasingly seeking work-life balance in their jobs which is a perk that can be surprisingly simple to implement and mutually beneficial.
Depending on what you can budget, there are countless benefits that you can offer your employees to help ensure loyalty, longevity, and productivity:
- Telecommuting and Flexible Schedules – A perk that is becoming more and more desired, particularly with younger generations in the workforce, the option to be a remote employee is something that doesn’t really cost your organization much on the backend, but can result in high levels of engagement and morale.
- Autonomy in Work and Recognition – Providing your employees with more independence in their work lets them know that you trust them to get the job done. When the job is not only completed, but done well on their end, sufficient praise and recognition does a lot to increase motivation and encourage continued efforts.
- Opportunities for Growth – When employees are engaged and committed, they always want to do their best to contribute to not only their individual position, but to the success of the organization as a whole. To keep that desire for continued commitment going strong, work with your employees to develop a plan to help them grow within your organization (e.g., mentoring, e-learning, or certifications/coursework).
Taking the time to meet your employees halfway by offering various incentives to keep them motivated and engaged can help reduce expensive turnover. When you factor in the various resources necessary in recruitment, it can certainly benefit your organization to invest in the retention and growth of quality employees. Follow along this month as we discuss in more detail the above options for incentives and perks.