CASE STUDY: How we helped one company grow employee retention by 75 percentile points in a single year

OVERVIEW:

Our customer had a huge employee retention problem. When I first talked with them, turnover was such an issue that they had to hire over 300 people each year just to retain 100. Keeping their stores fully staffed was a constant source of stress.

We worked with them to create an employee retention and engagement program that took them from the bottom 5th to the top 80th percentile in the first year!

THE EMPLOYEE RETENTION OPPORTUNITY:

It's hard to retain and engage employees in any industry. In an industry known for high turnover, it's an even bigger challenge. Our customer had to hire more than 300 people each year to keep their stores staffed. It was exhausting and unsustainable, even in the less challenging employment market employers were facing just a few years ago.

Now, things are much harder for employers. It’s more important than ever to attract the right people and onboard them well! If they don't feel like part of something that matters, part of a team, appreciated and engaged, they won't stay.

Fortunately, team appreciation, company culture, and employee engagement are some of our biggest obsessions at SOLV! It was an exciting challenge to help them attract and retain valued staff and turn those discouraging statistics around.

THE EMPLOYEE ENGAGEMENT SOLUTION:

We created an online employee rewards site that allowed employees to earn high-quality, sought-after company branded swag & apparel without spending their own money.

Creating a simple employee rewards system

We simply started off by giving the employees points for birthdays and work anniversaries, which immediately creates a retention incentive. Next, we expanded the program with a system that includes rewards for hitting certain targets: customer reviews, peer-to-peer evaluations, goal tracking, etc.

This helps the business grow, while directly showing the employees that their contributions matter. The more they help move the company forward, the more rewards they get!

Once an employee has earned as many points as they want, they have an easy-to-use online order site where they can cash in those points on company swag or apparel.

A few simple touches make employees feel seen and appreciated

With this program in place, it takes just a few easy touches to make new hires feel welcome and keep employee engagement retention high.

• The HR Manager gives each new hire a simple onboarding gift personally. The kit includes a personalized company mug with the employee’s name on it, a high-quality name tag, and a shirt.
• When it’s time for employees to receive birthday or anniversary points, the email notifying them comes from upper management.
• The program totals $150 or less annually for each employee, far less than the cost of high turnover!

With support from SOLV, this program was easy to implement and has been highly effective in attracting and retaining employees. It has made a huge difference to our customer's culture and their bottom line!

Contact us to find out how we could help you retain the best talent!