Is Allowing Staff to Work from Home the New Key to Retention?

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Recent economic changes have influenced businesses to adapt and create alternative working methods. Whilst healing from deep Covid pandemic scars, employers dodged redundancies and attrition through adopting remote working conditions. Even pre-pandemic, remote working has influenced a wide variety of impacts for businesses on a global scale.

Beyond safety benefits like social distancing, remote workers gain comfort from flexible working conditions, zero-commuting strains, and a more stable work-life balance. In turn, this has increased business performance, productivity, and created opportunities for savings on infrastructure and maintenance costs.

Whether on-site or off-site, employers hold responsibility for workers health, safety, and wellbeing. Through proper support, allowing employees to work remotely can increase their sense of value and engagement – resulting in improved employee retention for your business.

 

What is a Remote Worker?

A remote worker is an employee who works outside of the traditional workplace. The basis of their job conditions allows them to work remotely – either permanently, temporarily, or on a hybrid basis where time is split in and out of office. Customer service, sales, engineering, and most computer-based jobs are common roles that could benefit from remote working conditions.

Newly developed communication tech like VoIP and cloud systems enable this remote workforce to accomplish all the same tasks as they would in a traditional office setting. With productivity remaining consistent in these fields, the appeal of remote working is on the rise.

Remote work is nothing new. Even prior to the pandemic, companies were leveraging expertise from geographically diverse candidate pools to help set their companies apart. Research by Global Workplace Analytics found that, since 2015, the number of people who work from home has risen by 140%.

Work from Home for Retention Blog Graphics Graph

Benefits of Working Remotely

The benefits of hiring remote workers aren’t some big secret. A global talent pool can present a wider range of unique candidates - bringing fresher entrepreneurial talent and business productivity. Research done by PGI found that businesses who introduced remote working options saved $11,000 per worker, per year. In 2015, telecommuting saved employers $44 billion! Not to mention drops in unscheduled absences, transit subsidies, janitorial services for facilities, and much more. Imagine the savings you could gain from a workforce made of full-time remote workers!

 

However the benefits are so much more than just financial gains. Harvard Business Review found that remote workers were more productive, more willing to work overtime, and most likely to stay working for a business longer than colleagues who worked in-office. One study by Prodoscore found that “on average, those who work from home spend 10 minutes less a day being unproductive, work one more day a week, and are 47% more productive.” Contrary to popular belief of the opposite, 75% of people who work remotely do so because it provides fewer distractions. 86% of people feel that working remotely reduces stress, according to FlexJobs research. Not to mention, people who work remotely at least once a month were found to be 24% more happy and productive than those who didn’t. The math is simple: happy workers = retained workers.

 

Developing a Strong Work from Home Policy

You’d think that with so many benefits, it’d be hard to justify not going remote. People tend to hold onto tradition, but even beyond that, there are some concerns employers struggle with when making the decision to shift to telework. This includes possible loss of productivity due to distractions like kids and housework, detachment from co-workers resulting in communication issues, and effects on employee wellbeing like feelings of loneliness or isolation. The trick to avoiding these pitfalls is to establish a strong work from home policy early on.

Work from Home for Retention Blog Graphics Policy

Good remote work policies should support both new hires and employees transitioning to remote working by making all employees aware of resources, entitlements, and benefits. Simply offering work from home options isn’t enough. If you want to leverage remote work as a retention tactic, you need a strong base for it. Some things to consider in developing a telework policy for your own company can include the following.

 

1. Designate which Jobs are Eligible

In order to properly consider which roles can be fulfilled remotely, look at the responsibilities and requirements of each role and decide on job eligibility based on duties, equipment needs, and legal and tax implications. Studies by McKinsey found that finance, management, professional services, and information sectors have the highest potential for remote work. Review the conduct and personality of current employees in these roles and rationalize whether or not they have the personality and drive to conduct their work remotely. Can any improvements be made if the job was done through hybrid working conditions? Leverage your HR team to apply and review proper legal methods to assign these roles the appropriate eligibility.

McKinsey Top Work From Home Roles

2. Draw Boundaries between Work and Personal Time

Whilst working under flexible working conditions, it’s likely some remote workers may blur the lines between work and home life. The spectrum can vary widely – from people being absentee from their desks during working hours, to people feeling the need to stay ‘logged on.’ This problematic Catch 22 can cause guilt that keeps employees from taking necessary breaks – resulting in burnout. You’ll need to take the guesswork out of scheduling by setting work agendas with suitable timeframes. Ensure remote workers take regular breaks and cease working at appropriate times. This way, you can extinguish any overworking by setting boundaries.

 

3. Schedule Regular One-on-One Time

All working relationships should have a comfortable and empathetic atmosphere. Through regular one-on-one meetings, leadership can offer remote workers accessible advice and support. These check-ins stand as great lifelines – particularly for new starters. By getting on a video chat or picking up the phone, you will have the ability to read emotional levels better than you would over email or text. This way, you can pick up on signs of anxiety and work-related stress on a regular basis and address them as soon as they start. Normalize conversations about mental and emotional support and work towards eliminating signs of stress, social anxiety, and burnout.

 

4. Deliver Physical Support

Employers can offer direct support through ergonomic work equipment. You wouldn’t want to work from your kitchen table long-term, and neither would your employees. 85% of workers want their employers to provide them with the technology they need to work remotely. To meet this market need, try to create work from home spaces as close to office settings as possible. Through keyboard risers, support cushions, gel rests, and maybe even ergonomic chairs, employees will be able to create a space in their remote office locations that is dedicated to work. This practice will increase their productivity and focus, and the supplies will soon pay for themselves.

 

5. Protect your Business with Cybersecurity Measures

As more of us become accustomed to newer forms of tech innovations and virtual communication, investing in cybersecurity is vital. Online hacking and data breaches aren’t fantastical myths you only hear on the news. Real-life threats can hit your business instantly - and the damage can be long-lasting. Breaches among small businesses can cost up to $3.62 million dollars. To avoid this before it becomes an issue, introduce regulations on cybersecurity measures that all employees must comply with, such as only working on company computers or avoiding public Wi-Fi access. Introduce encryptions, antivirus, or Virtual Private Network (VPN) software for extra safety measures. Additionally, you can hire cybersecurity professionals that are certified in information systems security and/or cloud security to to protect your IT infrastructure and network.

 

Prior to the pandemic, businesses tended to turn their noses up at the idea of a remote workforce. Repercussions due to the pandemic has inadvertently increased acceptance for hybrid work structures globally, some out of necessity and some out of empathy. Whatever the case, the trend with today’s workers is in favour of more telework options. According to Statista, as many as 40% of employees prefer to work remotely. Even further, 74% of workers said they would quit their current job if they were offered more flexible options elsewhere. In this candidate-driven market, this has become an important negotiating chip in hiring and retaining current employees. To keep with the demand of the market, employers must implement supportive and safe work from home policies. In turn, workers will surely reciprocate the appreciation through performance and loyalty to the business. In this recovering economy, increasing retention rates will make or break the success of many businesses.

Talent Gaps in Electrical Engineering: Awful or Opportunity?

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With the 4th Industrial Revolution, there have been expansive job opportunities in emerging technology such as artificial intelligence and data science. Locally, reports show that every 100 tech jobs created in Arizona result in 252 jobs in other sectors. From manufacturing all the way to sales - each job vertical has expanded due to new developments in systems, applications, hardware, and software. However, it seems like much of the allure within these jobs leans more toward high-profile software-oriented companies like Facebook, Apple, Amazon, Netflix, and Google (FAANG). In one survey by Deloitte, over 77% of respondents believed there is currently a talent shortage within the semiconductor industry. Without chip designers, system engineers, and other EE talent, those FAANG companies would not be able to operate. Is this cause for concern? Or is there opportunity within this talent gap? 

Issues with the Talent Gap   

Last year KPMG found that 64% of semiconductor executives named “talent risk” as one of the top three threats to their organization’s growth. As technologies like IoT, Artificial Intelligence, and 5G evolve and are streamlined, new enhancements need to be invented to support them and remain competitive. The end of Moore’s Law put this need for innovation into an even clearer perspective. Yet, industry leaders are struggling to react to this need through skill development, education utilization, and developing an overall talent strategy. This means,despite growing demand for semiconductor technology and innovation being developed in this space at lightning speeds, industry leaders are still struggling to attract qualified talent and retain their skilled employees. 

The number of qualified candidates in the industry today are not meeting the growing need. MRL, a recruiting group, estimates that half of the current semiconductor employees are likely to retire in the next 10 to 15 years - with hardly anyone qualified enough to fill those gaps. With people retiring out, and few newcomers - the talent pool is shrinking. In order to keep up with demand and to stay relevant in the marketplace, semiconductor companies need to establish better plans to address the talent gap.

Part o the problem lies within the marketing of the semiconductor space. Today’s STEM graduates want to be on the cutting edge of technology - and are drawn to the allure of big-name software companies which are constantly covered by the industry, and make a visible impact on people’s lives. On the flip side, the direct impact semiconductors, electrical components, and analog technology have on everyday life is not as well-known. Compared to other tech giants, 59% of respondents in Deloitte’s survey said that the semiconductor industry’s career path was just not as attractive. They also found a high rate of turnover in semiconductor companies, as well as a lack of knowledge on how to apply those highly technical skills to grow their career throughout the industry. 

The industry is in need of a recruiting update - with one survey finding that 55% of companies feel unprepared to tackle the issue of attracting larger numbers of young people and graduates. These chip design and electrical engineering-focused companies need to focus on attracting and developing new talent to keep pace with the rest of the tech industries. Particularly, they need to learn how to market to millennials - as they have become the largest demographic group in today’s workforce. 

EE Talent Gap Stats Infographic

Areas of Opportunity 

All of this information seems pretty bleak, however, it leaves some pretty clear action-items on ways to turn this talent gap around. If the semiconductor industry wants to attract more talent, they must work on marketing themselves better to those entering the workforce. If they wish to retain their talent, they need to create more skill development opportunities and establish more career paths. 

A key trait of the career-seeking millennial is wanting their work to have a tangible impact on daily life. That’s why they are so drawn to big software companies; it is easy to find people who use those products and services every single day. Competing with this brand familiarity and accessibility is difficult, over 60% of executives surveyed by Deloitte felt that companies in the semiconductor supply chain suffer from poor brand image compared to those other technology companies. Better employer and industry branding could help reverse this. When it comes to marketing to graduates, it must be made clear the exciting and direct impact semiconductors have on everyday life - whether that be through 5G, IoT, automotive, industrial, or consumer applications. By showing the impact, millennials will come to imagine a satisfying and rewarding career within the space. 

It doesn’t help that the methods are outdated. From slow hiring processes to uncompetitive salary offers, millennials are not lining up for this old fashioned workplace and recruiting model. One microelectronics researcher stated that, “The jobs waiting for them after graduation are often limited and pay relatively poorly. It is much more appealing for these top engineers to go to big internet companies and create applications and software, rather than spend 5-10 years in a small lab doing extremely difficult and expensive hardware research.” From the outside looking in, they are seeing a lack of support and collaboration within these roles, and are having a hard time envisioning a solid career path within the field. To combat these feelings of disdain, a tech recruiting firm out of Europe suggests increasing recruiting efforts at universities and reevaluating what is offered to employees. Initiating R&D projects with universities, providing more mentorship and trainee programs, and other career development opportunities would help engage internal employees while also giving students an inside look into the job. 

As the digital design of systems and applications continually changes, so should the methods by which employers build their roadmaps to keep ahead of the innovation and develop their internal talent. Those within the electrical engineering space today are experiencing some key pain points as well when it comes to entering and staying in the semiconductor vertical. One survey found that 60% of their semicon employees leave their jobs within 3 to 5 years, pointing to an employee retention issue. In addition to regular salary and title evaluations, on-the-job learning, advanced degree training programs, and other career guidance pathways should help retention. 

The United States is not alone in this struggle, with the semiconductor talent shortage impacting businesses all across the globe. China and Singapore have been developing talent acquisition and talent retainment strategies in recent years, and we can learn from them. China is taking the homegrown talent pool approach, and looking to strengthen education for graduates, improve the benefits for their current engineers, and support research and development throughout the STEM sector. Meanwhile, Singapore is using strategies backed by Accenture and their own Economic Development Board to bolster the talent pool. This includes collaborating with the government on building out a roadmap and support stream in preparation of Industry 4.0, implementing new routes for cross-functional learning within the tech space, and forming workforce support in the form of unions and business chambers to develop transition paths. All of these efforts help to create long-term solutions that build the talent pipeline for semiconductor jobs now and in the future. 

Key Takeaways 

It is estimated that the semiconductor industry is the fastest growing electronic component industry in the US. There is significant opportunity there for those that have the knowledge! And, for those who know where to find the talent. Moving forward, retention tactics need to be better emphasized, and marketing efforts better funded. The semiconductor industry has a lot to offer, but has done little in the way of advocating for itself when competing against software and application giants. The good news is, you now have a friend in the business who understands the gap in the market and can help you build your pipeline and strategy to ensure your company comes out on top. Through strategic developments in marketing, education, and recruiting efforts, the semiconductor talent gap can be minimized. 

In Blue Signal’s home state of Arizona, the technology sector is growing at a pace 40% faster than the rest of the nation, with a 5% wage growth. Here, the governor plans to budget $12.5 billion to STEM workforce training and education. Arizona is ranked second in the nation for net new tech business establishments - right behind New York City. By tapping into local talent and Arizona college programs, Blue Signal has a unique opportunity to capitalize on this growing job market and talent pool. We understand the challenges and competition out there and have proven ourselves successful in overcoming these obstacles to help find companies educated and experienced professionals in the electrical engineering space. Contact one of our specialized recruiters today to discuss your opportunities for talent acquisition - some of which might be right in your backyard. 

7 Tips For the First Days of Your New Gig

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You’ve landed a new job, congratulations -- the hardest part is over! While surviving the interview process is something to celebrate, it’s important to keep up your A-game as you start your new role. Whether it’s applicants exaggerating on their resumes or employers overselling a role, it’s estimated that 20% of employee turnover happens in the first 90 days. 

But - no stress. They hired you for your abilities, and you should have everything you need to be successful! To ensure the best trajectory, read these simple ways to make sure that you make the most out of your first few days on the job. 

#1: Map out your commute so you can arrive early.

Arriving on time to work is expected, but arriving early shows your boss and colleagues that you’re serious about getting the job done. Make sure you map out the best route, account for traffic, and leave earlier than you think necessary to ensure you’re not left scrambling. Basically, live by the phrase “on time is late” until you get the hang of the new commute. 

#2: Dress to impress. 

Even if your workplace has a casual atmosphere, dressing nicer on the first day helps to make you feel like you’re fit for the job. The last thing you would want is to under-dress and stand out in that negative way. Wear something that you feel comfortable in and shows off a little bit of your personality, while still looking professional and polished. 

#3: Learn your coworkers’ names. 

The people you’ll be working with are going to be key for getting the lay of the land. They can help answer questions when needed and build your sense of morale for your time at the company. It’s important to learn their names and let them know you’re interested in getting to know them. After all, you’ll be spending quite a bit of time together from here on out. 

#4: Skip the sack lunch and go out to eat with your new team. 

Take learning the names of your coworkers a step further and invite them out to lunch on day one. This will help establish those key relationships from the very beginning and help you down the line. Ask your new coworkers about the culture, any tricks of the trade, or what they wish they had known on their first days. 

#5: Ask questions and take notes.

Your first day is going to be a whirlwind. Don’t be afraid to ask questions and write down anything that you think will be important in the future. Preparing questions as simple as, “What will be expected from me in my first 30 days here?” will help clear up any confusion with your responsibilities. You’ll be happy you asked for clarity, and your new supervisor will be impressed with your initiative. 

#6: Be courteous and grateful to everyone who helps you throughout the day. 

There will be a lot of established staff members taking time out of their days to help you learn the ropes. Make sure you are courteous of their time and thank them for helping you out. Sending a thank you email or, even better, writing a handwritten note to anyone who helps you out your first week is a simple gesture that can go a long way with making first impressions in your new role. 

#7: Smile and be yourself!

Being yourself is the most important aspect of starting a new career - you want to make sure that you’re the same person on day 1 as day 100. It’s important to not let the stress of a new job get to you -- they hired you for a reason! Taking the time to smile and let your personality come through on the first day is the easiest way to make a good first impression and smoothly transition into your new role.  

To make the transition even easier, Blue Signal goes beyond placements to provide new hire support, including offer negotiation, resignation preparation, company transition coaching, and further support throughout our candidate’s entire first year on the job. If you are looking for more support in that next step of your career, contact Blue Signal today to get a friend in the game, and make your next new role the best yet.