Health Care
Background
Case Study: A health care company had high turn over and low employee moral according to engagement scores
Client Challenge
High employee turnover rates, low employee engagement, and declining productivity at a health care company.
The company's rewards system was outdated and not competitive, leading to a lack of transparency and communication with employees.
EQUINOW HR Solution
A health care company was facing high employee turnover rates, low employee engagement, and declining productivity. We engaged with this company to address these issues.
Equinow HR began by conducting a comprehensive analysis of their current rewards system. We found that the system was outdated and not aligned with the market standards. The rewards were not competitive, and there was a lack of transparency and communication to the employees.
Equitynow HR roposed a total rewards strategy that included competitive salaries, comprehensive benefits, performance-based bonuses, recognition programs, and career development opportunities. We also suggested implementing a clear communication strategy to ensure employees understood the value of their total rewards package.
The new strategy was implemented over a period of 12 months. Our consultants worked closely with the HR team to ensure a smooth transition. We also provided training to the HR team on how to effectively communicate the new rewards system to the employees.
After the implementation of the new total rewards strategy, the organization saw a significant improvement in their business. Employee turnover rate dropped by 12.5%, employee engagement increased by 22%, and productivity improved by 7%. The improved employee morale also led to better patient care, which increased patient satisfaction rates.