Expressed opinions Entrepreneur Contributors own.
The record-breaking “abandonment rate” in 2021 defined the labor market, and about a quarter of workers wanted to change jobs in 2022. Despite this trend, my company has been able to retain top talent while hiring some extremely lucrative ones. Across the board, our new recruits indicate that our goodroot mission to increase purchasing power and access to healthcare resonates with them.
But this is only the first part of the puzzle. Here’s my three-step guide for companies to lose great resignations.
Related: Great resignation or great redirect?
There is a mission with measurable results
In an industry like healthcare, experienced people can always find good jobs. Since they work on those tasks, they can’t help but notice that the system is broken. The total cost of healthcare in the United States now exceeds সরকারের 3.8 trillion in federal government revenue, and medical debt remains the leading cause of bankruptcy.
Thus, there are plenty of opportunities to make a living in healthcare. But the chance to leave a mark – leaving a better industry than you found it – is rare. That’s what we offer. And our team has the ability to keep track of how we’re doing.
With a mission to reduce healthcare costs, our team will see their work take millions of dollars out of the healthcare cost equation. They’re not just generating revenue or hitting the goal of helping our company grow. They are also lagging behind in healthcare spending. Our team is working toward a legacy of providing fair, affordable healthcare to their family, friends and every patient. It makes every day important.
Create new roles for talented people
As a leader, my primary responsibility is to unleash and expand my talent. The healthcare industry is so large and complex that it often hinders the innovative potential of those who work in it. It also drives some very creative people who get frustrated with stuck issues.
Such a situation exists in all industries and at all levels. Talented, motivated people are limited and confused every single day, sometimes for no better reason than “we’ve always done it this way.”
Healthcare is a very lucrative business, so it’s easy for leaders to take a stand. Everyone has their own, but when that approach overwhelms employees with aspirations and ambitions, it hurts everyone. You don’t lock a houseplant in a closet and expect it to grow. You place it by the window and water it every day.
I believe that the way forward for the healthcare industry is to empower and encourage people who already know how we can solve long-term problems to make their ideas work. This connection between untapped potential and our mission drives our recruitment process.
Do we hire for specific roles? Sometimes. But our best employers are often brilliant people whom we know through relationships in previous roles who see what we are doing and only collaborate with us to create a new position for them.
You heard of putting a square peg in a round hole. Just focus on finding the best peg, then you can carve the shape of the hole together.
Related: Sizing candidates for cultural fit throughout the recruitment process
Clean the culture
Someone may be on board with the mission and be ready to create a new position that capitalizes on their talents and ideas individually, but it won’t work if they don’t fit the culture.
When you are interrupting one of the largest and most problematic industries in the country, you need to move fast. We have to work harder and smarter than the legacy players we want to transfer. We can’t just go through the motions. We are trying to set new values in speed.
You can try to explain your culture to the applicants, but it is better if you can show it. Entrepreneurs are at the heart of our culture. We’ve created systems to draw and reward innovations. Sharing stories about how these systems work during the hiring process helps both parties measure fit.
In addition to rewarding innovation and performance, we create a culture book each year with each employee’s submission. The language and the words we use are important. That’s why inviting each team member to share their thoughts and experiences with our culture in writing makes it part of the company’s record and reading other people’s experiences helps us see common threads because we all work for our mission.
Related: How To Write An Unforgettable Company Mission Statement
Fortunately, even in the midst of great resignations, the supply of people who want to be part of something still seems to have exceeded demand. If you can set up your business to attract people who are stuck in roles that do not serve a compelling mission, to harness their talents or to fake their values, your company is going to do very well in these turbulent times.