Boosting remote employee retention with rewards

Ciara Byrne

Let’s face it – employee turnover can be costly, no matter how big or small your organization is. Once you factor in the time and effort that goes into recruiting, training and onboarding new candidates, it’s easy to see that. Employee turnover makes it difficult to retain other valuable staff members, too, and that cost can have a negative impact on a company’s performance.
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Why is remote employee retention important?

Developing a work culture that promotes employee growth is crucial for any company. Recognizing your employees with incentives and rewards will help you retain highly qualified employees. This, in turn, will save both money, and time. Moreover, once you have reward systems in place, you’ll retain employees that know company processes inside out. And that’s vitally important for companies hiring remote workers.

Remote employee retention also matters, mostly because finding candidates for a remote position is equally expensive and complex as it is when hiring in-house staff. Caring for your employees’ needs and ensuring that they are committed to the company is key when reaching your goals and reaching your long-term objectives.

The most common reason employees choose to work remotely is for a better work-life balance. They may feel more focused and productive at home and have more time and energy to balance their personal and professional responsibilities.

Managing remote employees involves strategic actions that offer support and lead them to be more loyal and committed to your organization. Rewards and incentives are among the most recognized ways. However, what many managers fail to recognize is that employees are also craving autonomy, flexibility, and equality. Providing the same equipment to all employees, focusing on quantifiable deliverables, offering productivity tools and being flexible with communication expectations are just some of the ways that help ensure employee wellbeing.

If you have a team of remote workers, you probably know how important it is to stay connected and motivated while everyone works from home. The flexibility at work can often lead to inefficiencies or circumstances where your workers may plan to leave their current job. If you feel like you are in that position, it is probably about time for you to consider implementing strategies to improve remote employee retention. Below, we are listing some examples that can help you reduce your turnover.

A rewards strategy can be a great way to tackle employee turnover/retention

Rewards and recognition are great ways to boost morale and engagement. It’s true that recognition can be shown in various ways, whether that is monetary or through public acknowledgment of someone’s efforts.

The most important thing is recognizing the effort of your employees so they feel needed and appreciated. In the long run this will improve various aspects of your organization such as employee turnover and retention, team work, and efficiency. Let’s see some of the best ways to improve remote employee retention with rewards.

  1. Reward your employees on a regular basis

There is one issue with long-term rewards, and that is the fact that employees often lose interest in working towards them if it’s just something they look forward to. So, a good strategy for remote employee rewards would be to do that more frequently or on a regular basis. We all know how great it is to be recognized, and your employees feel the same, regardless of their remote position.

You can focus on a steady flow of small but regular rewards, which will, in turn, boost your engagement with your employees. They will act as an everyday reminder for your staff of all the desired behaviors or actions that your company chooses to reward and help you retain your employees.

Remember that there are ways to motivate your employees without monetary rewards.There are numerous ways to retain your team with creative strategies. This video by Hypercontext shares several great ideas that don’t involve money.

  1. Personalize your employee rewards

It’s easy to reward someone – but how easy is it to make that reward personal? It’s in our psychology to feel better when we receive a personalized gift – those feelings would drive even greater commitment and loyalty. Employee engagement is key when retainment is in question – it’s a great way to prevent the remote work imposter syndrome from showing up, which is actually common among employees nowadays. which is why it is important to treat your staff as individuals and take care of each one with considered and personalized employee rewards.

A good example of doing this is personalizing your gift cards with their name, a special message of thanks, and your company’s branding. Doing this will make your remote employees feel valued, recognized, and committed to repeating their good behavior. Taking the time to share your genuine heartfelt thoughts with your employees can make a huge impact on them, going a long way in relationship building.

  1. Offer learning opportunities as rewards

Research shows that employees appreciate the occasion of a reward even more than the reward itself. That is why you need to make the rewarding process memorable or even choose a reward that is not an item or something tangible. Investing in career growth through learning opportunities (classes, seminars, courses) that your remote employees can access for free or at a reduced cost is one great reward.

Let’s take UPS, the world’s premier package delivery company, as an example. The brand promotes diversity and inclusion, as well as plenty of learning and development programs. All interested employees can turn to the UPS Human Resources Phone Number to get more details on these offers, showcasing the value of transparency when rewarding. As you can see, a reward does not need to be an item – it can also be an opportunity for employees to transcend into new roles or expand their skill set.

  1. Give your remote employees a choice of reward

Giving your employees a choice of rewards goes a long way – there are already campaigns that brands initiate to help their remote employees choose the gifts they want, based on a selection of items. This makes the rewarding process even more interesting for the employees.

That is why many companies opt to show appreciation toward their employees with a wide selection of rewards in the form of gift cards, e-gifts, or experiences that their employees will never forget.

  1. Make it a team effort

Rewarding doesn’t always need to come from top management. It can be a team effort – in fact, it should be one. With simple retention strategies like acknowledging employees’ birthdays and anniversaries in regular team meetings, emails, or doing activities during video calls, you can prove to your employees that you appreciate them. For some, giving paid time off or an early “unplug” from work can be a great way to support a healthy work-life balance.

In today’s dynamic virtual workplace, it’s important to maintain a cohesive company culture and showcase to your team that you are there for them while motivating them to do the same. Making everything a team effort and discussing topics with the team is a surefire way to build morale and reduce employee turnover.

Final words

As you can see, it’s important to stay connected with each employee and celebrate each other’s successes through team appreciation. You can have weekly team meetings where you would give kudos to each team member for that or a weekly virtual social with a theme – a proven morale builder. It’s also helpful to reach out to colleagues from other teams or connect with your employees via phone or Skype just to see how they are doing and whether they are feeling appreciated at work.

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