The job market today is incredibly competitive, and it is challenging to attract, recruit and retain top talent. Whenever your employees leave to go elsewhere, as is happening right now to thousands of business owners, all of the training and investments that you made in that employee are leaving along with them. Workforce retention is a critical concern for businesses throughout the United States across industries. How can you improve your global workforce retention to maximize productivity and minimize turnover?
4 Tips for Increasing Global Workforce Retention
- Offer the same high level of support to your international employees that you offer to your employees who work on-site or the in the US. Many HR departments forget to help international employees as urgently, particularly if they make for a smaller percentage of the workforce. Don’t be afraid to use tools like Slack and Zoom to stay in touch and provide quick assistance.
- When it comes to global workforce retention, you should also focus on making things easy for your international employees. There are many nuances that can impact what benefits you offer or the compensation that you offer, so ensuring that you understand the standards of employment locally where your global employees live can make a big difference.
- Language barriers can make a big difference in global workforce retention, and they can complicate conversations between both parties. If HR departments or companies don’t have a way to speak the language of employees who live globally, they should ensure that they retain skilled translators and interpreters to get the message across. Language gaps and misunderstandings can cause tremendous confusion and stress and thwart other attempts you make to improve global workforce retention.
- Find the right international payroll service or services for your international employees. All workers want to be paid on time and correctly every payday, so working with the right partner will help to ensure that things like promotions, bonuses and deductions are handled correctly and promptly. There can be errors that arise naturally due to conversion errors, holidays and more, so taking time to ensure you are respecting your international employees will go a long way with global workforce retention.
Make Your International Business Thrive With Help from MKS&H
MKS&H provides tax and accounting services to businesses of every size and in every industry. We can work with you to determine the best way to update your records, plan for the future, budget and more. Contact us today for a consultation.
About MKS&H: McLean, Koehler, Sparks & Hammond (MKS&H) is a professional service firm with offices in Hunt Valley and Frederick. MKS&H helps owners and organizational leaders become more successful by putting complex financial data into truly meaningful context. But deeper than dollars and data, our focus is on developing an understanding of you, your culture and your business goals. This approach enables our clients to achieve their greatest potential.