Retaining Employees – A Case Study
Over 20 years ago my husband started a new job and, at the time, I was pregnant with our first child. As an independent consultant, I relied on my husband to provide health insurance through his employer. But as soon as I got pregnant, his previous employer closed the business and my husband became unemployed, leaving us without insurance. We were therefore thrilled when he immediately found a new job, but simultaneously concerned when we heard that the company’s insurance considered my pregnancy a “pre-existing condition” and would not cover any related costs, including the all expensive doctor’s visits and delivery.
We soon learned, however, how amazing my husband’s new company was and what they did to retain employees. After he was hired, this small yet growing company of less than 100 employees offered to pay for all pregnancy related-expenses, in full, out of the company’s coffers (not through insurance). They weren’t required to do this, but they offered nonetheless. They paid for everything, no questions asked, including the midwife services and birthing classes, which most insurance companies would not have covered.
This immediately earned my husband’s long-term loyalty. When talking about his job he often mentions this level of generosity and this, in turn, is great publicity for his employer
Throughout his employment, they have done many other unexpected things to earn his loyalty. For several years, my son was an avid baseball player, and my husband was his coach. His company supported this passion in allowing him time to leave early most days, they also sponsored the team several times and, in general, they were genuinely interested in how the team and my son were doing.
Most recently, the same daughter who they helped bring into this world began her first year of college. The company’s educational assistance program chipped in close to $3,000 for the first semester, with future funding provided each semester thereafter, based on application and proof of good grades. These actions speak volumes and have earned my husband’s loyalty forever. He will never leave nor would I want him to.
This is just one case study of a best practice that creative firms can be inspired by. Loyalty is not built by high salaries, but by other and often unexpected personal benefits that consider the individual’s own passions and needs. As a result, your team’s morale will be quite high and they will be as dedicated and loyal to you as you are to them. It is a win-win.