Are they happy? Productive? Eager to grow?
Or do you have a nagging feeling they’re all about to jump ship?
The past couple of years have changed how we approach life and work. We saw thousands of workers quit during the Great Resignation — and it’s not slowing down anytime soon.
If you’re struggling to keep retention rates high — this post is for you. Here’s how to retain top talent in your team, according to actual remote employees:
We ran a small social survey to see what factors would make people stay in a company for more than 3 years — given that money wasn’t an issue. The results were pretty telling: elaborate gimmicks weren’t the key to retaining top talent.
Instead, we saw 22.1% of respondents saying they’d stay in a company that provided room for growth and development.
Working in a good environment came in second at 15.8%, followed by flexible hours, company culture, and supportive leadership.
Let’s break them down one by one, starting with:
Humans are hardwired to seek constant improvement. In the work setting, this means honing a skill, building subject matter expertise, or moving up the ladder.
Employees who proactively seek growth are great assets — they’re more productive, motivated, and are eager to build the business.
So what happens when they’re stuck doing the same thing for years?
Chances are they’d seek growth somewhere else.
Before that happens, create opportunities for continuous growth. It can be as simple as encouraging them to come up with new solutions or earmarking a budget for professional development. A little goes a long way.
“I'd stay in a company that's genuine about being employee-centric,” shares Rox, a graphic designer.
“In my current company, if there was a symposium that you wanted to join or if you wanted to get a certification, they'll pay for everything. Small gestures mean a lot.”
Another factor that can encourage people to stay is a healthy work environment.
Your company’s overall vibe has a huge impact on team morale and productivity. Toxic workplaces often have low engagement, high stress levels, rampant gossip, absenteeism, missed deadlines, and high turnover rates.
People will leave toxic workplaces like these, regardless of the paycheck.
“I realized that the job wasn't worth it when I started dreaded waking up and dragging myself to work. I looked for TONS of excuses to miss work. I always dreamt of having a high salary for as long as I can remember but now as an adult, mental health should be prioritized above everything else,” shares Rebekah, a Filipino preschool teacher based in Singapore.
A healthy and happy work environment, on the other hand, is a place that brings out the best in your team. People are more likely to stay in a company where:
Studies support that happy employees are 13% more productive. If you want to keep employees happy, a healthy work environment is key.
A recent study from McKinsey showed that flexible working hours is one of the top three factors people look for when considering a new job. With more companies offering flexible work hours, adopting this into your own business could bring in tons of benefits.
Having flexible work hours means allowing your team to choose when and where to work.
Instead of measuring productivity by the number of hours they clock in, your team focuses on delivering top-notch work within deadlines. Working without the stress of constant surveillance and micromanagement can encourage productivity and help your employees achieve a more balanced lifestyle, too.
You’d need a robust delegation system to pull this off.
Company culture goes beyond free pizza nights and foosball tables. It’s about having a strong set of core values — and living up to them.
“Working in corporate for more than a decade, I've realized that people eventually will stop working for the money and will start hanging on to what's making them come to work everyday,” shares Pammy, Shepherd’s Head of People and Culture.
What are your company’s core values? Do you show it in the way you do business and how you treat your employees? More than being a “fun place to work”, do you provide the right benefits and support to your team?
Building a strong company culture in a remote setting has its unique challenges, but it can be done.
Bad managers are a liability. A study by GoodHire found out that 82% of workers would quit their jobs because of a bad manager. In a Reddit thread discussing the worst companies to work for in the Philippines, horrible bosses seem to be a common denominator.
Another important but often overlooked thing: hire managers who actually have the people management skills. Often, companies simply promote based on tenure or technical skill, but being a good manager is so much more than that.
It takes empathy, an ability to strike a balance between employee advocacy and hitting business goals, plus mad communication skills to be an effective manager. Hire someone who fits the bill and they’ll be an asset to your organization.
Doing impactful work can be enough to keep people on the job. According to some of the responses on our survey, folks would stay in a job for more than 3 years if they personally find the work meaningful.
This ties back to company culture. More than making money, employees are motivated by your company’s values and purpose. Hire folks who are genuinely interested in your company’s purpose and you’ll have a dedicated team that’ll stick with you for years to come.
It’s also important to let your employees know that they’re doing work that matters. Recognize their efforts and give credit where it’s due. Make them feel seen and valued by:
8.2% of respondents mentioned generous leave benefits as a major factor for staying in a company.
Some respondents mentioned wanting unlimited PTO (without the guilt and stigma that comes with it), while others simply wanted leave policies that gave them enough time to rest. Others were more specific, calling for mental health days, generous parental and maternity leaves, and a paid week off during major holidays like Christmas.
There’s no one-size-fits-all solution when it comes to formulating a leave policy. It will ultimately depend on you, your team, and your business needs. Whatever you come up with, make sure it gives your employees the opportunity to live a balanced life.
In the wake of the pandemic, workers have highlighted the need for robust health insurance policies. Employers from the US are not required to provide benefits like health care to remote Filipino contractors, but it sure can help you attract — and retain — top talent.
To learn more about the benefits that you can voluntarily give your remote Filipino employees, check out this guide.
Some respondents talked about other interesting benefits that companies can provide. Here are some of them:
Hiring new employees is expensive and time-consuming. By retaining staff, you’re saving your company a lot of money in the long run. Projects will be easier to complete and you won’t have to put tasks on the backburner. Overall, retaining employees helps you be more productive.
Aside from this, retaining top talent also means that you’ll be able to:
Think of the knowledge and skills each employee has acquired through experience.These team members likely know the ins and outs of daily operations or have probably SOPs of their own. Through retention, you’ll be able to use their expertise to grow your business.
Working with remote employees requires trust — and you sure won’t be able to build that if employees don’t last for more than a couple of months. Keeping your best employees in the team means being able to foster long-lasting relationships built on familiarity and mutual respect.
When you trust your employees, you’ll be able to integrate them better within your company. You can delegate more tasks, loop them in important conversations, or assign bigger responsibilities. Keeping talent within your team means it’s easier to hire leadership roles internally, too.
Employee retention is not about throwing fancy gimmicks. Often, it just means treating your employees with respect, genuinely caring about their growth, and giving them space to do meaningful work.
Hiring folks that match your company’s values is also a huge factor in building strong teams. Here at Shepherd, we specialize in finding employees that fit your company culture and business needs. Tell us about the roles you’re hiring for today and we’ll find you awesome employees that’ll stick with you for years to come.
Employee retention occurs when team members choose to stay with their current employer instead of leaving for other opportunities. Companies with high employee retention rates often have productive and satisfied employees.
Employees stay in a company that:
Employees lose motivation in work for various reasons. Some of the most common ones include: