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Survey reveals more about the remote work retention crisis

A North East HR firm is revealing all about the crisis among remote workers.

Hive HR, which is based in Newcastle, is sharing the findings of its comprehensive 2023 State of Employee Retention Report, which looks into what has become known as the Great Resignation: a phenomenon characterised by many companies struggling to retain skilled staff.

The report found that the transition to remote work has resulted in a significant 3.82 per cent drop in employee retention rates, leading commenters to question whether the benefits of remote work, such as enhanced flexibility and improved work-life balance, have come at a cost.

Heather Angiolini, people scientist at Hive, said: “Our research demonstrates that the state of employee retention varies across industries.

“While many sectors are making efforts to improve retention rates, there is still a long way to go in ensuring sustained high retention without experiencing year-on-year decreases.”

Other significant findings from the report included that the professional service sector has witnessed a decline in retention rates, potentially due to intense competition, long working hours, and the lack of work-life balance common in this sector. It also found that retention rates in medium-sized companies were poor, likely due to a combination of communication gaps, difficulty in catering to individual employee needs and employees lacking a sense of belonging.

The report also revealed that most employees cited a lack of career progression as the primary reason for leaving their jobs.

Heather added: “While the report highlights positive retention rates in certain industries, it also underscores the need for improvement across sectors, and the impact remote working has had. Factors such as intense job markets, poor organisational culture, limited career development prospects, and leadership changes can negatively impact retention rates.

“To combat these challenges, organisations must prioritise employee feedback and identify areas for improvement. By focusing on creating a positive employee experience through culture, benefits, career progression, leadership, and employee well-being, employers can enhance retention efforts.”

Find out more at hive.hr

This was posted in Bdaily's Members' News section by Pay-as-Hugo .