Offering perks is a great way to improve remote employee retention.
For professionals that are in high demand, perks can be a crucial factor in their decision to stay with a company.
And offering the right benefits can be tricky if you are running a remote team.
In this article, we bring you 5 perks you can offer to reduce turnover and improve remote employee retention.
1. Training & Education
Remote employees often leave their companies because they lack growth opportunities.
In fact, LinkedIn’s 2018 report showed that 94% of employees would stay with a company longer if it invested in their career.
That’s why many successful companies are offering more and more opportunities for training and education.
For example, HelpScout is a global remote company that provides help desk software.
They offer a Personal Development stipend in the amount of up to $1,800 per year to their remote workers. Their employees can freely use this stipend to sign up for any courses or conferences.
This way, the company encourages its workers to continuously work on their personal development.
You may not be able to afford to give your employees the same amount as Helpscout but what you can give them is time for training. There is so much incredible training content available online for free or very low cost simply giving your employees allocated training time is also a great perk.
Nobody wants to stay at the same level forever.
That’s why you need to provide training, keep track of your remote employees’ performance, and give them space to grow.
Studies show that 40% of remote employees feel that the greatest benefit of remote work is having a flexible schedule.
Aside from making your employees more productive, it also reduces turnover.
And it won’t cost you a dime.
So, having a remote team already improves your retention. But what can you do to additionally increase the flexibility of your team?
First of all, allow them to have a flexible schedule.
Some people prefer working traditional 9-5 hours, while others feel more productive in the evenings.
If possible, allow your remote workers to freely choose their own working hours.
This especially applies to creative roles such as designers or content writers.
If they have the freedom to work whenever they feel inspired, they will be happier and you will get better results.
However, flexibility doesn’t only refer to the schedule. It also refers to the way you manage your employees.
Let your employees use the tools they prefer and be careful not to micromanage.
Let them make that decision.
The only thing you should really focus on is the final product of their work.
3. Home Office Set-Up
Remote work relies on technology.
That’s why assisting your new remote employees in setting up their home office is not only a perk, it is a necessity.
This does not only refer to their computers and desks, it also refers to software.
Using tools is crucial for working remotely, and you need to equip your remote workers with all the tools they need.
This will not only make their job easier. It will also improve their performance by allowing them to smoothly collaborate with their co-workers.
4. Paid Time Off
Every employee needs time to relax.
Lately, more and more companies are introducing unlimited paid time off policies, allowing their employees to take as much personal time as they need.
It might seem drastic, but it works.
In fact, studies show that 44% of remote workers who have unlimited vacation options only take two or three weeks off per year.
Offering this perks shows your remote employees that you trust them.
This can drastically improve their loyalty and reduce turnover.
Buffer, a successful social media management company, even offers minimum vacation requirements. Each employee needs to take a minimum of 15 paid vacation days each year.
Ensure your remote employees have the right balance of their personal and professional life. They will feel happier, motivated, and more productive.
5. Personalized Remote Work Stipend
This perk is perhaps the best way to offer personalized benefits to your remote workers.
It is specifically designed to fit the needs of your remote employees.
If you don’t have a fully remote team, this perk will also ensure equal treatment of your remote workers and your on-site people.
So what is a remote work stipend?
Basically, this is an amount of money regularly given to your remote employees for them to use for their own personal perks.
Think about it.
On-site employees usually have an office space, a computer, desk, office supplies, and many other stuff you might not even consider that important.
However, remote employees have to provide everything for themselves – even the cup of coffee that they have during their break. A remote work stipend covers the cost of such items.
And here is why it works:
- If your workers can freely pick what they need, they will be more satisfied.
- You won’t waste money on perks that some of your employees don’t even use.
- You won’t have to spend time on choosing and managing additional perks.
Depending on the amount of your remote work stipend and the other perks you offer, it can be used on education, wellness, or continuous learning.
Even a relatively modest amount each month can help towards ensuring your employees have the equipment they need and access to services that will make them happier and more productive in their work.
These were our top 5 ways you can improve the remote employee retention.
By the way, did you know that companies that hire remote workers have 25% lower employee turnover?
If you want to improve your retention by hiring great remote workers, you can do that right here on JobRack. We have thousands of high-quality remote workers who might be a perfect fit for your company. Click here to find out more.