It’s always impressive when a company can retain employees, who are constantly being bombarded from within and without about the potential of taking other jobs. But to do so well during the era we’ve come to call The Great Resignation (which continues to this day) is doubly impressive. Let’s hear how these four companies have kept their retention rates so healthy during one of the least predictable job markets in US history.
Why is your company so successful at employee retention? Can you give us some stats if possible?
At Octane, we focus on two overarching principles that help us retain and attract employees; we invest in the whole person, and we help our employees reach their professional goals. Our employees know that we are committed to doing what it takes to meet their needs at our remote-first company. Through regular employee surveys and changes implemented based on feedback, giving our employees the training they need, offering flexible work options, investing in employee assistance programs that promote health and happiness, and encouraging time off (our most recent employee Pulse Survey showed that 82 percent of employees believe that “Octane supports [them] in maintaining work/ life balance”), Octane maintains an exempt employee turnover rate of less than 10 percent, compared to the national average of 18 percent.
How have you been able to resist the effects of The Great Resignation?
Our workforce grew by about 80 percent in 2021, and through our growth, we have remained committed to fostering a company culture built on compassion, inclusion, and connection. In addition to offering flexibility, growth opportunities, and company benefits, 100 percent of respondents on Octane’s Comparably survey said that they have a positive work environment. At Octane, we are proud of our company culture. Our team shows up each day committed to innovation and a common mission, and our workplace is a safe space for employees to be their authentic selves, learn and grow, and get the training and resources they need to succeed in their roles. The combination of a strong culture and meaningful work with ample job support helps our employees know that we want them with us, that they are supported, and that there is a future for them at Octane.
Check Out Octane’s Careers Page Here!
Why is your company so successful at employee retention? Can you give us some stats if possible?
At Golden Hippo, we care greatly for our employees. We offer a fantastic benefits program, from healthcare to spot bonuses so that our Hippos feel supported not only in the office but outside the office as well. By showing attention to the personal lives of our Hippos, they know that we are with them every step of the way throughout their growth process with us. During Quarter 1 of 2021 and 2022 at Golden Hippo, we had an average exit rate of 7.6%. We believe that Hippos stay with us because we offer a safe, uplifting, and inclusive environment that encourages our employees to want to work with us for years to come. In fact, in a recent Indeed review from a current employee, they state, “I hope to be able to retire with Golden Hippo, and that is saying a lot as I am in my 30s.” This is a true testament to how dedicated our Hippos are to continuing their futures with us, which is something you don’t get from too many companies.
How have you been able to resist the effects of The Great Resignation?
The Great Resignation was and still is a difficult concept to come to terms with, which is why we are so proud of our team for continuing to stick with us. During the peak of the pandemic, our Quarter 1 exit rate was 7.2%, which is incredibly low given the circumstances. In addition, the e-commerce industry attrition rate was at 30.7% as of last year, but Golden Hippo paced far below an average of 20.1%. Today, we continue to double down on our reputation by sharing employee stories and by continuing to shed light on who we are as a community. The effects of The Great Resignation have strengthened us and allowed us to reevaluate our company image as we move forward into a new dawn for Golden Hippo.
Check Out Golden Hippo’s Careers Page Here!
Why is your company so successful at employee retention? Can you give us some stats if possible?
“So far this year, we’ve recognized 75 employee anniversaries across our Americas team, with 49% recognized for 5 years, 32% honored for 10 years of service, and 18% celebrating 15 years or more,” says Jeff Castillo, EVP of the Americas for Medela. “Our vision to nurture health across generations is reflected in the passionate employee culture at Medela, and we hear this echoed in employee feedback collected through our Comparably survey. Our mission-driven focus matters to our colleagues.”
How have you been able to resist the effects of The Great Resignation?
“The effects of The Great Resignation did not have a significant impact on retention, because we focused on our family-owned culture and employee pride to create solutions that support the needs of our employees,” explains Castillo. “For example, we introduced global flexible work policies to support the needs of our employees and attract the right candidates. In the USA, we introduced part-time positions within certain teams to meet the unique needs of employees. Paired with expanding our benefits offerings to include extended paid parental leave, and additional resources for mental health and wellbeing, we remain committed to creating a workplace culture where all are welcome, and everyone is proud to be part of.”
Check Out Medela’s Careers Page Here
Why is your company so successful at employee retention? Can you give us some stats if possible?
As a company with approximately 550 employees, we have a current retention rate of 93.4%. Our Corporate employees average over 7 years of retention, with 46% of Corporate employees being with PKL for more than 5 years. On one of our contracts, the majority of the employees have been with PKL since the onset, 15 years ago. Additionally, nearly 90% of our employees are veterans. As a government contract company, we work largely with military customers around the world. This provides a unique environment for retired military personnel to transition to the civilian workforce and continue to utilize their specialized skill sets, learned during their military careers. This is a considerable incentive for recruiting and retention. Overall, our company focuses on keeping a personal connection with all of our employees and we are heavily employee-service oriented. When employees call or contact our Corporate offices, they are directly in touch with our team of qualified personnel. This keeps conversations friendly and personal, ensuring our employees are not treated like just another number. PKL offers a wide range of high-quality benefit plans, leave schedules, and incentives to our employees worldwide. In addition, for some of our contracts, we offer end-of-service awards and retention bonuses. We provide multiple retirement plan offerings and personalized financial service support. For all of these reasons, PKL’s employees choose to stay for long periods of time.
How have you been able to resist the effects of The Great Resignation?
Yes, we have absolutely retained our personnel during The Great Resignation. Even during the pandemic era, when many companies were required to provide layoffs or cutbacks, PKL was able to retain all of our contractual obligations and personnel. We experienced zero interruption to our service and performance for our customers during the last number of years. We adapted our workforces and schedules to accommodate customer requirements for all of our essential personnel employees and provided remote work solutions for Corporate personnel. We provided a number of benefits during the pandemic era to ensure our employees were provided for during any closures and changes to schedules. These included additional leave pay, flexible start times, alternate shift options, and new hybrid and remote work options. We are fortunate to have begun implementing technology-focused solutions pre-pandemic. This afforded us the ease of transition to more remote work solutions and stability of infrastructure during the pandemic era changes. Given the unique industry and specialized skill sets of our employees, we are grateful for the opportunity to support them and keep them securely employed during the last years of confusion and change in work cultures.