The Great Resignation has been upon the animal health and nutrition industry for more than a year now. The tight labor market has slowed hiring as indicated from a recent Brakke survey of veterinarians indicates that replacing a veterinarian in a clinic averaged 14 months last year Similar hardships are faced by most companies in our industry.
What should companies do? One way is to reduce turnover by focusing on your company culture, onboarding, and work flexibility, which have been shown to increase team member satisfaction and loyalty, while making them more productive too.
A recent Gallup study showed that a concerted effort to foster and reinforce a positive culture increases sales by 19% and profits by 29%, while reducing attrition by 72%. Another indicates that clear onboarding improves retention by 23%, while poor training accounts for 40% of resignations. A third revealed that nearly half of respondents indicated they’d accept a lower salary if they could work in a hybrid environment. Thirty percent indicated the ideal work environment is 100% remote. (Source: PharmiWeb)
We are reinvigorating the Brakke Consulting recruiting practice and have recently heled several firms fill key managerial and leadership roles. And while the workforce may have changed over the years, what has not changed is how important retaining and hiring people are to the success of any company. We can help.