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Over the past several weeks, it's become apparent that the shift to remote working may be more permanent than many companies realized. What was originally supposed to be two weeks of social distancing has turned into two months. With widespread remote working looking like the new norm, HR teams need to be preparing to institute more long-term human resources solutions. Let's take a look at several tips that HR teams can use to adapt to remote working.
The COVID-19 pandemic has proven to be stressful for people all across the country. Shelter-in-place orders have led to many people working from home for the first time. Some have taken to this well, but others are struggling. They aren't quite sure what they should be doing - something that may be causing them extra stress. This compounds with the fact that working from home can actually lead workers feeling higher levels of stress due to the potential imbalance in their work and personal life. Studies have shown that heightened stress can have a negative impact on productivity. Workers struggling with a lack of productivity or perceived productivity can cause more stress that compounds with everything else.
It's not secret that companies everywhere are struggling to retain their talent. The Bureau of Labor Statistics found that in 2019 the annual average turnover rate in the U.S. was 44.3%. Employee turnover is expensive. According to analyst Josh Bersin, the total cost of losing an employee can range from tens of thousands of dollars to almost two times their annual salary. Enough losses like these in a year can be devastating to a company's bottom line. Unfortunately, there is no magic bullet to solving this problem. There are many factors that contribute to the increasing turnover rate. However, there is one factor that stands out when compared to others: employee burnout.
A company's performance is synonymous with its employees'. Industry giants have witnessed their profits grow annually as they invested more into boosting their employee performance and productivity. Facebook's per-employee profits, based on last year's profit of $16 billion divided by their number of employees, made $634,694 per employee. Another example is Apple who made $48.3 billion last year, and had an average per-employee earning of $393,097. Microsoft raked in $21.2 billion in 2018, which comes out to $171,000 per employee.
For some people, working from home is no different than working in the office. They sit down at their computer, put in 8 hours, and then log off for the day once everything is done. These people are obviously superheroes, and we should all tip our hats to them. Not everyone can do that, which normally isn't a problem. However, it may end up becoming one due to the recent coronavirus outbreak. Many companies are being forced to have their employees work from home meaning the people who aren't great at working from home are struggling.