Introduction
The “Great Resignation” has hit the tech industry hard. More than 4.3 million people in the U.S. voluntarily left their jobs in January per the Bureau of US Labor Statistics.
Talk about a brutal wake-up call!
The grief of great resignation is hanging over our heads. Today, the number of employees quitting or thinking about doing so is at an all-time high.
Organizations that plan to turn a blind eye amidst this storm will have a hard time battling this phenomenon. Others who face the reality, analyze the reasons for employee dissatisfaction, and take action quickly will have an edge in attracting and retaining top talent.
The Great Resignation & Its Impact on the World
While the much-discussed Great Resignation is the subject of heated discussions in US media, it has also caused employees all over the world to analyze their current state of work.
Factors such as poor remuneration, inflexible working conditions, and unbearable workload have resulted in employees quitting their jobs.
This coupled with the pandemic was just the push people needed to prioritize their mental well-being, their personal passions, and work-life balance above all.
The impact you ask? Employers from all over the world started to look for the answer to the all-important but often forgotten question – What’s the best way to retain talent?
Remote Hiring – The Golden Solution to the Great Resignation
The problem of great resignation leaves a gaping hole in skill sets in many companies. Many are struggling to fill positions in the technology sector where there is a high demand for skilled resources.
So how can we dodge the bullet of the great resignation and defeat it for good? It starts with breaking the confines of geographical boundaries and moving away from the traditional methods of hiring.
Thanks to remote hiring, organizations are no longer restricted to hiring candidates in their vicinity.
Technological advancements + remote-friendly tools have given birth to a borderless world wherein organizations get exposure to new skills, talent diversity, and a global pool of spectacular talent.
Overcome The Challenge of Great Resignation With Great Talent
Remote anywhere – retain for longer
Remote work is giving employees the much-needed freedom and flexibility they were long craving for. A study by Stanford confirmed performance and productivity increase by up to 13 percent when working from home. The fact of the matter is people are getting tired of being chained to a desk.
This is where remote hiring and retention go hand in hand. Just by allowing people the flexibility to “work from anywhere”, you are in turn closing the doors to employee dissatisfaction resulting in higher attrition rates. Techtory helps employers to discover, source, and hire the right remote talent, with no hassle
Save overheads & prioritize employee-driven initiatives
Remote hiring helps you cut down on overhead costs drastically. The absence of unnecessary office space, utilities, office supplies, and other amenities can save up to approximately $11,000 per employee per year for the company.
Saving on these redundant infrastructural costs helps organizations package greater benefits for employees such as medical, pension, stipends, and more benefits across the board. This ensures an even happier team and is well taken care of which directly relates to higher retention.
Say goodbye to hiring struggles
Now more than ever, it is getting increasingly evident that the process of hiring is getting more complex day after day. That’s the benefit of building distributed teams with Techtory. You can easily eliminate the headache of sourcing, vetting, and hiring and focus on scaling and growing your business.
Combat talent crunch with remote hiring
Looking for talent with special skill sets and a specific geographic location restricts your search. Don’t let the limitations of locations come in the way of finding exceptional talent. Remote hiring allows you to seek out untapped talent with great skill sets.
Practice people-first thanks to remote-first
Give your talent management team a rest from recruiting, scheduling interviews, creating the paperwork, running background checks, and onboarding people, and let them focus on other important areas of people management such as employee well-being, grievance redressal, and cultural policies. Techtory simplifies the hiring process so you can focus on what matters the most to your organization.
Protect your in-house team’s bandwidth
Maximize employee productivity by offloading tasks off their plates. Hiring extended remote teams will reduce the workload on your in-house team. This will lead to greater work-life balance, therefore happier & healthier employees.
Final Remarks
Gone are the days when you could hope that your staff might suddenly retire and not be replaced. The IT industry has become highly competitive and there’s been a gradual increase in employee turnover rates.
Remote hiring is a critical step in resolving the crisis of great resignation and retention. You might not know it yet, but a talent minefield is waiting to be discovered. Are you open to taking the leap?
Techtory is on a mission to eliminate the headache of hiring that companies experience when evaluating potential candidates. It’s our aim to enhance the talent pipeline and empower companies across the globe with access to an even more diverse array of talent, in order to attract top talent and grow.
Ever thought about why companies like HCL, Koo & Datamatics trust Techtory for building their remote teams? The answer is simple. Hiring with us is one of the easiest and potentially cheapest ways to scale and grow your business.
With Techtory, find the right talent, right away! Start your project with us today.