Keep Your People by Supporting Their Purpose
Turnover is costly. Gallup found that replacing an employee can cost as much as two times the employee’s annual salary[1] and Leadership IQ found that an astonishing 46% of new hires fail within the first 18 months.[2] So, it’s important to understand what drives employees to stay.
A recent report from the Great Place to Work Institute[3] found that three job elements were critical to retain employees: purpose, pride, and fun. Of these, “purpose” is the most important. People prioritize “meaning” in their jobs more than anything else. They want to feel they’re contributing to a cause greater than themselves or producing something significant or useful.

But the report also found that what’s meaningful varies drastically from one person to the next. This isn’t surprising. After all, everyone wants to feel important to someone or something, but humans are a diverse, richly nuanced group. So, what are companies to do when considering retention strategies?

Consulting firm McKinsey suggests starting with your organization’s purpose – the one thing you can control.[4] Make sure your mission isn’t simply a poster on the wall. Leaders need to live, breathe, and model the organization’s purpose in everything from their daily interactions to their most important business decisions.

Next, identify what your employees—the people you want to attract, inspire and retain—find the most meaningful. Start by asking them—all of them, from the top executive to the newest frontline worker. Open-door policies, surveys, workshops, roundtables, and small-group sessions are useful here. And follow through on your support for the issues your people highlight as important.
WAHVE’s extensive qualifying process looks beyond skills and experience to assess a candidate’s fit with your organization’s culture. Our 90% success rate is nearly double the market average! If you’re looking for the ideal candidate to fill an open position, let’s talk.

A CNBC survey found that 68% of workers who retired during the COVID-19 pandemic would consider returning to work. Despite this, older job seekers, particularly those aged 65 to 74—the fastest-growing labor segment—face significant ageism and misconceptions.
In our post, “Reversing the Great Retirement,” we dispel the myths surrounding older workers and offer four tactics veteran job seekers can use to overcome barriers they face when pursuing a second career. You will find the post here.

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If you are going to or FAIA, or IIAV we will look forward to seeing you there. Stop by our booth and say Hi. Our team members will be delighted to meet you and fill you in on WAHVE's innovative insurance industry staffing solutions..
WAHVE offers two ways for insurance companies to cover their staffing needs:

  • Our Vintage Expert staffing model matches experienced professionals with the specific needs of insurance companies in long-term work-from-home contract positions.

  • Our Talent Acquisition Outsourcing offers a bias-free, end-to-end, cost-effective sourcing and talent qualifying solution for in-house positions to secure the most qualified and diverse talent.

Both services draw on our deep insurance expertise to qualify and present the best-fit candidates to our clients.

If you are a retiring or transitioning professional let's talk about alternatives.

If you’re an insurance company, let’s discuss how Wahve can help with your hard-to-fill positions.