Staff Retention Strategies from Chad Price MAKO Medical CEO

Talent acquisition is expensive. According to Toggl, it costs American business owners around $4,000 to hire each new employee.

Retaining current staff members is much more cost effective and supports the business goals in the long-run. If you are trying to create a long-term strategy that works for your business, it is worth considering staff retention. 

Chad Price MAKO Medical CEO heads up a team of more than a thousand professionals. The leading healthcare entrepreneur knows what it takes to keep staff on board. Since starting the business back in 2014, he has more than doubled the enterprise in style. Over the past nine years, the leader has gained invaluable knowledge about how to guide staff. In the following article, he shares his insights into how you can keep staff satisfied. 

Offer Flexible or Hybrid Working Models

The pandemic changed the way that workers engage with their employers. More and more professionals are leaning toward new-age work models. For that reason, if you have the ability to offer a flexible option to your staff members, it may be worth doing so. Research from Workplace Intelligence and WeWork suggests that flexible working is now gaining popularity among professionals. It pays to keep up with the latest workplace trends. 

Whether you are able to offer flexible working will depend largely on the type of industry in which you work. For example, if many of the positions require hands-on work, you may not be able to allow professionals a work-from-home setup. However, there are other ways to give workers the flexibility that they need. That may mean allowing them to work different hours, have paid time-off when they need it the most, or simply take more vacation days. 

Provide Workers Training Opportunities 

The best professionals will always be looking for ways to learn and develop their skill-set. 

Chad Price MAKO Medical CEO is aware of this fact and, as such, has created the MAKO-U initiative. The approach allows workers the chance to learn new things under the company umbrella. The first training opportunity here is the accredited phlebotomy course. The learning opportunity teaches staff members how to become quality phlebotomists. When they have done so, the employees will also be able to take part in teaching too. 

Failing to offer staff members training can be detrimental in all areas of your business. As Chron reports, a lack of training in the workplace can lead to team members leaving. The negative effects of this oversight cannot be overstated. Of course, it is not merely about looking for ways to ensure that the employees can do the job at hand. You also need to allow them the space and support to grow and develop the talents they already have. With that in mind, it is worth looking for ways that you can offer in-house training or courses. 

Gather Employee Feedback and Utilize it 

As a manager or business leader, you have an obligation to listen to what your staff members have to say. Gaining feedback from your employees can help you to improve your strategy and keep them on board. One of the biggest mistakes that business owners make is failing to hear what their team is saying to them. To make sure that you side-step this problem, you need to have a mechanism to gain constructive criticism from the staff. You may choose to host regular meetings, use surveys, or have anonymous feedback. 

Whatever route you decide to take, it’s not merely about gaining the feedback, you also have to utilize it. Adapting the workflow to suit the needs of your team is a must. Of course, there are plenty of ways that you can enhance the working environment for your team. While these changes may not always be possible immediately, you can use the staff feedback to your best advantage. You may want to keep a log of all the feedback you have had. That way, you can review it whenever you have time and the budget to do so.

Empower Your Staff Members with Some Autonomy

Micromanaging is a surefire way to destroy a healthy work environment. When you are overseeing a team of people, it’s important to give each individual a level of autonomy. One study from the American Psychological Association suggests that this move empowers employees and gives them a sense of freedom. If you want to keep staff on board and stop them from looking elsewhere, it is worth trying this unique approach. 

Chad Price MAKO Medical CEO uses this strategy when overseeing the team at his healthcare business. While there is a protocol that every professional has to follow, individuals are responsible for their own workload and progression. The model has proved to be successful since the business has a strikingly high staff retention rate. Allowing workers to be the master of their professional lives is a savvy way to keep them on track. 

Make Sure that Communication is Clear

Convoluted communication is one of the biggest problems within any business. While it may be necessary to use industry-specific language at times, that means cutting out any jargon. When you are leading a team, there is no room for miscommunication. One of the most effective ways to keep staff on board is to ensure that everything is crystal clear for them. This is the approach that Chad Price always takes at work. 

Should you have a remote work model, communication is more important than ever before. You may find that you have to work even harder to bridge the gap here. Ensuring that staff members are clued-up on the everyday tasks and activities is a top priority. You may choose to have regular team calls, establish a Slack channel, or simply use Zoom. 

Conclusion 

Staff retention is one of the biggest issues for hiring managers and business leaders in 2023. If you are searching for strategies to keep team members satisfied and on board, you may want to use the outlined advice from Chad Price MAKO Medical CEO above. Altering your workflow and ensuring that you are paying attention to feedback is a must.