5 Retention

Topic

5 Retention

Topic Progress:

5 Retention

Filling a vacancy has been estimated to costs between 15k and 30K.  Most managers don’t consider this when recruiting either.  A modest advertising campaign costs around $5K, interviewing resources around $5K and a further $5-$10K in onboarding, checks and other expenses.

The reality is however that you usually inherit your team the good and the not so good!  For rural organisations the employee pool is smaller so there are not as many alternatives available.  You really need to work with the people you have.  This doesn’t mean that you have to accept under-performance or fear addressing issues.

Many managers think that retention is all about being ‘nice’ to everyone and accommodating their every need.  Actually, it’s not.  Retention is best achieved when managers provide clear direction, rules of engagement and consistency in leadership.  This is the ‘culture’ that favours retention.  It’s the manager’s role to ensure that staff have the right tools, skills and knowledge to do their job properly and that the systems, processes and procedures assist this goal rather than block it.

This is an older article but still relevant today.  It does talk about cash incentives which have been shown to have short term benefit in the corporate sector but not so much in the not for profit or public sector.  The reasons people work in these sectors are different and tend to be more centred around being able to deliver care the way they want, feeling their work is valued and valuable.

And, you want to retain the best people for as long as possible – what are the strategies that you currently use to retain people?

Activity:

Sarah K. Yazinski from University of Scranton wrote quite a thorough article on “Strategies for Retaining Employees and Minimizing Turnover”.  Check it out and reflect on which strategies you are already implementing.  Share the strategies you believe are the most effective in the healthcare industry.  Access at: Strategies for Retaining Employees and Minimizing Turnover

 

 

@

Not recently active