Two wild years prove how dangerous it is to forecast what’s coming next, but we have zero doubts about this prediction:
In 2022, employee engagement and retention will be dominated by your remote work policy.
Why Remote Work is Crucial for Employee Engagement and Retention
Our confidence is built on data. Thanks to the 2021 State of Remote Work from Owl Labs, we have a vivid picture of what will happen to employers who force employees to return to the office:
- 56% will quit or start looking for a new, more flexible job
- 58% will ask for a raise
- 48% will stay put, but not work as hard
As far as futures go, that one sounds bleak
Owl Labs also asked people who had been called back to the office what they wanted. 57% said they prefer working from home. A forced return to the office might make you happy, but you’ll end up with disgruntled, disengaged employees. When half of them leave, you’ll struggle to find replacements. Current job seekers are mainly considering employers who are hiring remote workers.
Build a stronger business – offer remote work
For many companies, remote work started as a health and safety measure. It brought along real benefits for your business.
Remote work has a positive impact on employee well-being
Of the employees who took part in Owl Labs’ survey:
- 82% believe remote work improves their mental health
- 84% said working from home makes them happier
It’s easier for people to focus at home
Nine out of 10 employees said they are more productive when they work from home. Most employers agree. 52% of executives told a PwC survey that employee productivity ticked up when people worked from home. A whopping 83% of leaders described the shift to remote work as successful for their company.
You can ditch costly real estate
Businesses that go all-in on the model can give up their office leases or sell buildings.
Hiring remote employees makes the world your (talent) oyster
Working from anywhere also means you get to recruit from anywhere. Global talent acquisition companies, like ProActivate, can search anywhere in the world to get you the best of the best.
How to Hire Remote Workers Effectively
Statistical and anecdotal evidence makes a strong case for remote work
Which is one of many reasons we’re baffled by leaders in the financial industry. It is the epitome of what you should not do.
From the beginning, executives at companies like JP Morgan and Goldman Sachs were adamant. People will return to the office, even though their employees didn’t want to go back. Leaders like Jamie Dimon made statements about remote work like, “It doesn’t work for those who want to hustle. It doesn’t work for spontaneous idea generation. It doesn’t work for culture.” At the same time, Dimon consistently pushed back the return to office date due to concerns about the virus.
Don’t emulate the dictatorial approach of the financial industry
People will leave. A better strategy is to give your employees a chance to weigh in and then share your vision.
How to Set a Remote Work Policy That Keeps Employees Engaged
Put employees first: Your 2-step game plan
1. Have a genuine discussion about what people want
The stats we shared earlier show you want employees in general, expect. Your team might feel differently. Ask about their preferences and use their feedback to craft a policy. Strike a balance between what people want and what makes sense for your company.
2. Clearly communicate your plans
The constantly shifting timeline given by banking executives has a legitimate reason: health concerns. But people are sick of uncertainty. After you formulate your new operating strategy, share it with your team. Discuss the conditions that would trigger a delay and what your contingency plans are.
How to Attract and Retain Top Talent in 2022
In this difficult job market, simply offering remote work won’t be enough to convince working and winning candidates to join your team or keep current employees engaged. For that, you’ll need to have a stellar work environment and attractive benefits package.
If you can exceed expectations in any of these areas, you’ll differentiate yourself from other companies and find it easier to hire in 2022.
Medical coverage is your baseline. Look into adding vision and dental plans as well.
Paid time off
Two weeks is standard for new hires. Consider offering 3. Or do away with your policy entirely and give people unlimited PTO.
Set aside time for volunteering
Related to PTO, think about having a separate policy that gives employees a chance to volunteer in their communities.
Few people relish the idea of working forever. Retirement plans show you’re invested in your employees’ futures. If possible, match their contributions.
You’ll also want to pay attention to these 8 hiring trends to attract top talent.
Navigate New Workplace Values and Hire Top Talent with ProActivate
Covid continues to change how we think about life and work. Our team is here to support you and find working and winning candidates to fill your job vacancies.