What’s your Retention Strategy?
According to a 2017 report by Employer Benefit News, a lost employee costs a company on average 33% of the employee’s base pay.
Do you have a strategy for retaining your workforce?
Benefits for Employers
- Minimized work disruptions and decreased absenteeism
- Increased employee retention and engagement
- Insightful data on impact, ROI and the challenges your workers face
- Training for frontline workers, supervisors and managers, created in partnership with your HR team
- A network of member employers to share best practices
Benefits for Employees
An on-site success coach provides face-to-face, confidential assistance including:
- Facilitated, fast-tracked connections to community resources addressing life issues affecting work performance
- Personalized financial planning and coaching
- Help identifying career advancement and training opportunities
Will employees meet with the Success Coach during their shift?
No, the Success Coach will never ask an employee to meet during a time when the employee is scheduled to be working. The Success Coach can meet with employees, before or after a shift, on-site at their workplace or at a Michigan Works! Service Center. The Success Coach is flexible and can accommodate all shifts.
What kind of reporting will I receive to track employee engagement?
For the first 6 months of engagement with the Retention Solutions Network, you will receive monthly employee utilization reports. This report will detail the types of barriers that your employees are facing, the amount of time employees are spending with the Success Coach and an example or a story will be shared. Dashboards are shared at monthly member meetings.
How does the Retention Solutions Network differ from an EAP?
EAPs are designed and staffed to handle acute issues on a short term basis, often by referring the employee to outside resources. Likely, a given EAP is contracted by many, many employers to work with their employees, often at the job jeopardy stage, and may not be available to follow-up on the referrals provided. The Retention Solutions Network, on the other hand, works with a few specific employers and customizes services to meet the needs of their employees. Our services are designed to be high-touch and long term – we address the issue at hand and then work with the employee to align resources and build assets so that the issue does not repeat.
What are the most important employer’s responsibilities in relation to the Retention Solutions Network?
Once the employer member has signed an memorandum of understanding, the responsibilities for the employer are to participate in monthly member meetings, provide monthly reporting and adhere to the Employer Best Practices for maximum outreach and benefit.
What kind of information does an Employer need to share with the Retention Solutions Network?
It is important for the Success Coach to understand employer benefits, such as health insurance, vision and dental policies and other benefits offered to employees. An understanding of shift times, leadership structure, orientation process and hiring requirements is also help to best serve employees.
How long will an employee receive services from the Success Coach?
There is no time limit for services, the Success Coach will serve an employee for as long as it takes to get them back on track, as long as the employee remains employed by any member company.