Chris Holman welcomes back Teri Sand, SHRM-CP, PHR, CBSP, CRP, Business Services Manager, Capital Area Michigan Works!, Lansing, MI, but serving Ingham Eaton, and Clinton Counties
Watch Teri and Chris discuss how the Business Services Team at CAMW! deals with the challenges of employee retention in the YouTube video shared below:
In their conversation, Chris looked to find out several things from Teri;
Teri, can you speak about the Challenges of Employee Retention?
Ghosting (no call, no show).
Wages.
The flexibility offered by competitors or other industries.
COVID and safety in general.
Inclusivity/diversity.
What is your CAMW! Business Services team Retention Observations, or other data to this point?
Program statistics since March 2019, 151 participants.
67% retained for six months.
50% retained for one year.
Most commonly exited between three and six months.
Housing, transportation and budget/credit concerns are the top barriers.
It seems that due to the given barriers regarding employee retention, companies must develop ways in which they can incentivize employees to stay, how might they do this?
Potential Incentives.
Company swag is distributed upon achieving goals.
Referral bonus earlier in the candidate process than formerly.
Medical/dental/vision.
Flexible schedule; 4-day work week.
Remote/hybrid work.
Housing, childcare, tuition, student loan, etc. reimbursement or assistance.
Mentors. Professional development.
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