You already know high turnover is expensive. For every employee who leaves, the company faces training and recruitment costs associated with replacing that employee, loss of productivity and the task of having to find a qualified candidate to fill the position — a challenging undertaking.
This multifaceted issue also affects other employees at the company, as loyal team members often work harder to cover for missing colleagues.
For these and many other reasons, we work hard to keep good employees at Molina Healthcare of Ohio. After all, we appreciate all they do to carry out our mission and we want to ensure that they are being recognized and rewarded.
The following methods allow us to hold on to our best and brightest and may help you reap the benefits of retaining yours, too.
Earn your employees’ loyalty; show them they’re valued
At Molina, we attract employees by offering a rich benefits package with unique advantages, like immediate vesting of 410(k), accrual of vacation time and paid time off to volunteer in the community. To keep the appreciation going, we also provide our employees with performance coaching to help them grow and offer company stock at a reduced rate.
To support training and development, we reimburse continuing education costs — often at a higher rate than average. We also recruit from within, encourage promising employees to pursue our Leadership Track Program, provide education fairs and hold recognition events to mark milestones, including goals reached and years of service.
Other programs in the works: licensure bonuses to reward team members who obtain a higher level of licensure and partnerships with local universities to provide discounted tuition. We also keep it fun with various events led by our employee activities committee.
Put your mission to work
Virtually every company has a mission statement. But coming to work each day is much more gratifying when you’re part of a business that lives up to it.
If your mission statement is a far cry from day-to-day operations, consider aligning the work and the vision more closely. It starts at the top — those who run the company set the culture. The more leadership practices what they preach, the more loyalty you can inspire among employees.
By putting members first and committing to the values of respect, quality and innovation, the Molina family has built an organization of people who embody the same ideals. Like my Molina colleagues, I’m proud to spend my days in service to America’s low-income population and to help furnish them with access to quality health care.
Life is unpredictable, so be flexible
Work is an important aspect of a person’s life, but it’s just one of them. Show employees that you’re an understanding leader by adopting an environment where they feel comfortable sharing concerns about their life/work balance.
At Molina, we communicate to each employee that we understand they have lives outside of their responsibilities here. We treat each person like the individual they are — and, often, they reward us by staying with us.
Ami Cole is the President of Molina Healthcare of Ohio, the state’s second largest Medicaid Managed Care Plan with 337,000 members. Ami has more than 17 years of health care experience, including nearly 10 years at Molina before rising to become president. She is also active in the community, serving as a board member for the nonprofit After-School All-Stars.
