TLDR: When wage increases and bonuses are not an option, perks like BYOD and telework can be great way to reward employees and retain key talent.
Bring Your Own Device (BYOD) and telework are two of the hottest new trends in the business world and more new research shows that they don’t just boost productivity but also lead to greater staff retention. Indeed, talent is hard to find in this economy so whenever a business finds the workers it is looking for it is going to do whatever it takes to hold on to those employees. Some of the most popular ways of retaining key employees are through compensation be it wage increases or bonuses. Unfortunately these avenues are less available lately as the economy has yet to take off and many businesses’ remain tight on funds. Luckily, the BYOD and telework policies can potentially be just as effective at pleasing employees. Both measures work by essentially rewarding employees with the ability to do something in their preferred methods of doing so. With BYOD, you are allowing workers to use the devices they are more comfortable with and feel they can operate at the highest ability on. With telework you are also rewarding employees by allowing them to work in what they believe to be a more convenient environment for them where they can work with less stress and be more productive. ZDNet continues, “In its The Connected Workplace report, Deloitte surveyed 526 skilled workers; that is, people who work in an office or use IT regularly in their jobs. Around 83 percent of respondents with access to flexible IT policies said they were satisfied with their work, compared with 62 percent of their counterparts who didn’t get to enjoy flexible IT conditions. Workers are increasingly favoring perks over pay. In a study by global recruitment firm, Ambition, it showed that most IT employers don’t allow flexible working arrangements. But 56 percent of workers surveyed by Ambition said they favor flexible working conditions over a promotion. Having flexible IT policies such as BYOD, remote working, and introducing collaboration technology to allow staff to work effectively are some ways to compete in the “war for talent”, according to Deloitte…”