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In many ways, all workers have similar needs. No matter where they’re located, some employee retention strategies stay the same. Everyone wants to feel valued for their work and make a livable wage for their region.

However, what that means can vary based on where you hire. Ruffy Galang, CEO and Co-Founder Remote Employee discusses how “expectations from employees across all regions are relatively similar, what differs is how people feel their employers should deliver upon these expectations.”

Workers in many English-speaking countries are now notoriously difficult to retain. The USA, Canada, Australia, and the UK have the 2nd to 4th spots on the global list of countries with the highest employee turnover rates in the world (France is number one).

That doesn’t mean that people in other countries have lower standards. These rates are mostly the result of higher costs of living and more local job opportunities. That’s why the right employee retention strategy needs to be tailored to where your employees are from.

Why Is Retention in The Workplace More Difficult Now?

70% of American workers leaving their jobs left voluntarily, which is the highest rate of voluntary exits since 2001. Despite many employers’ best efforts, this rate isn’t decreasing. Part of why this is so challenging is because the reasons are difficult to control. 

Only 39% of workers say workplace culture affected their decision to leave. The vast majority of Americans who quit their jobs (81%) said it was simply for a different job with better pay. This need for higher pay is driven by rising costs of living, including housing, healthcare, and daily expenses, which outpace wage growth in all countries that face a notably higher staff turnover.

There is little that the average employer can do about the rising cost of living. Salary increases are the most effective employee retention strategy for workers from the US, UK, Canada, and Australia. However, that’s not always feasibly possible for every employer. 

4 Reasons to Opt for Offshore Talent to Increase Employee Retention Ideas 

Relying on local talent alone can lead to challenges like high turnover, limited availability, and escalating costs. Offshore talent offers a competitive advantage by addressing these issues directly. 

Here are four compelling reasons to choose offshore talent when employee retention is a priority:

1.Access to a Broader Talent Pool

Offshore talent provides access to a wider range of skills and expertise than what might be available locally. With fewer constraints on geography, you can fill specialized roles quickly, reducing the stress and delays caused by local hiring shortages. This ensures your team remains productive and stable, minimizing disruptions caused by turnover.

2.Cost-Effective Staffing Solutions

Hiring offshore talent can significantly reduce labor costs without compromising on quality. Competitive salaries in many offshore markets allow businesses to allocate resources more strategically, such as investing in technology, training, or infrastructure. This cost efficiency helps maintain a sustainable workforce and reduces financial pressure that often leads to layoffs or dissatisfaction.

3.Increased Workforce Stability

Offshore markets often have lower turnover rates compared to competitive local markets. By tapping into regions with a loyal and dependable workforce, businesses can benefit from long-term employee relationships. This consistency ensures smoother operations and minimizes the costs and challenges associated with frequent hiring cycles.

4.Round-the-Clock Productivity

Offshore teams operating in different time zones allow for continuous business operations. This 24/7 productivity not only improves output but also reduces the burden on local employees to work extended hours, which can lead to burnout. With offshore talent, you can meet deadlines and customer demands more efficiently, enhancing your company’s reputation and employee satisfaction.

4 Employee Retention Strategies For Offshore Workers

Hiring offshore employees is an excellent option for business owners who need staff but can’t afford the wages that onshore employees need. Of course, offshore workers want to make a livable wage too. The difference is that how much their wage needs to be to be livable is much lower. 

Here is a quick comparison of the cost of living indices.

Source: Numbeo

*These indices reflect the combined cost of consumer goods and rent in each country relative to New York City, which has an index of 100. For instance, the United States has an index of 56.6, indicating that the overall cost of living, including rent, is 56.6% of that in New York City.

Still, that doesn’t mean offshore workers have no turnover. You still need to do your part to be an attractive employer. Here are some additional employee retention strategies for your offshore staff.

1. Fair Compensation Practices

Conduct market research to ensure wages are competitive and reflect the cost of living in the offshore employee’s location. Providing fair compensation shows respect for their work and builds trust, which encourages long-term commitment.

2. Performance-Based Incentives

Offer bonuses, profit-sharing opportunities, or milestone rewards to recognize and encourage exceptional work. Performance incentives give offshore employees a sense of accomplishment and motivate them to stay engaged with the company.

3. Clear Expectations

Set clear goals and provide regular performance feedback tailored to their roles. Offshore employees value transparency and constructive input that helps them succeed in their positions. Clarity will also reduce frustration or confusion about their responsibilities.

4. Demonstrable Career Stability

Communicate the long-term nature of their roles and provide contracts that reflect stable employment terms. Knowing their job is secure builds confidence in the organization and reduces the likelihood of turnover.

Make Filipino Professionals One of Your Staff Retention Strategies

Instead of fighting salary costs vs. retention risks, hire skilled workers for 50% to 70% less without compromising work quality. Remote Employee connects you with skilled professionals from the Philippines. 

We’re connected to highly educated, English-speaking workers in over 600 different industries. No matter who you need, we can help you find them. We’ll even do all the logistical work so you don’t have to.

Reach out to us today to meet your newest team members.