Telecommuting can be an employee retention strategy
But once a manager successfully lands those sought-after employees, the staffing work is hardly finished. After a contract has been signed and projects are begun, managers must make a continuous effort to retain their best employees. In the last few years, finance giant State Street has embraced telecommuting to help secure the long-term commitment of its staff. In a survey of its 26,000 employees worldwide, State Street found that 67 percent of its workers wanted more flex benefits on either a part- or full-time basis.
"We approach [flex work policy] more from a talent-retention or recruiting perspective," says Mike Scannell, senior vice president of global human resources at the firm told CNBC. "It differentiates us as an employer and it's a value proposition for potential job candidates."
The trend is clear: If your company doesn't offer telecommuting benefits, be prepared to lose your employees (or candidates) to another company that does. In today's evolving workforce, employees are likely to jump at the opportunity to exercise more autonomy in their work structure, and to gravitate toward positions that give them the most freedom at work. Even in industries where employees don't expect work from home benefits, extending telecommuting opportunities can be the key to keeping your best employees for the long haul.