Retention Incentive Plan

CURRENT SITUATION

Companies of all sizes and across all industries are struggling with recruiting and retaining top talent.

During the 1st quarter in 2021, a warehouse in Dallas surged 29% in its parcel distribution activities. That was great news for operations but a 45% open rate put them at risk of delivering on their contract.

Hiring challenges were linked to the pandemic, higher wages in the surrounding area, and competition with unemployment benefits.

STRATEGY & SOLUTION

Exegistics developed and launched a retention incentive strategy — and delivered it as a pass-through cost.

The incentive plan increased the talent pipeline by over 400% and reduced weekly turnover from 36% to 4%.
HERE'S HOW IT WORKS
  • After the first 30 days worked, employees receive a retention bonus of $150.

    After 60 days worked from their 1st day, they receive $350, totaling $500.

    ALL employees are eligible for a monthly $1000 cash drawing.

“We had to increase the talent pipeline and drastically reduce turnover,” said Chris Randich, Director of Staffing Solutions. “We had to get creative and we had to compete with unemployment benefits, that’s not easy to do in the current market. The program we developed worked but not only that — we delivered it as a pass-through cost. We are in this for the long game with our customers and this type of program illustrates that. When our clients win, we win.”

News & Insights

Retention Incentive Plan

A warehouse in Texas surged 29% in its parcel distribution activities but lacked the staff to deliver on its contract. Learn about a retention incentive plan that reduced turnover and was delivered as a pass-through cost.

2021-06-17T18:25:41+00:00
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