Specific Example of PRIDE™ Application
The Partnership: PRIDE ™ was
implemented as a solution-based initiative between Basil Rouskas
Associates, Inc., specialists in business coaching, organizational
development, customized business training and talent retention, and
an information technology company, AlphaNet Solutions, Inc. The primary objective of the program was to address
management's major concerns: the retention and development of key personnel.
Eighteen modules covering twelve critical-skills developmental needs were delivered in three hour bursts.
The Philosophy:
Retention and development were recognized as a long-term
objectives for both the company and the employee.
Program
Promotion, Support and Recognition:
A program theme was created and publicized extensively to
employees. As
recognition for the successful completion of the course, a two-part
bonus incentive was incorporated.
Selection:
Employees were required to complete an application process including nomination by their supervisors and
practice managers. This
insured commitment and career track alignment.
The Return on Investment:
PRIDE was economically smart.
AlphaNet Solutions estimated that it cost approximately $8,500 to recruit
a replacement. In
addition, there was a loss of revenue of $16,000 (four weeks or 160
hours at about $100 per hour).
| Recruitment Savings
|
$ 8,500
|
| Lost Revenue Savings
|
16,000
|
| Estimated Total Savings
|
$24,000
|
|
Basic PRIDE investment per employee
$2,800 (including materials)
ROI PRIDE
vs.
Recruitment
300% +
Lost Revenue
570% +
Combined
870% +
Management
Concerns Addressed By PRIDE:
“Our
problem was keeping them in the jobs.
Our IT people were always looking outside for new
opportunities.”
John
Warren
VP Human Resources
AlphaNet Solutions, Inc.
"Retention
is the No. 1 issue.
If you can retain a talented person, you save a recruiting
fee, the down time and the disruption to the organization.
We’ve put a premium on retention programs.
You always need effective recruiting programs but retention
is at the heart of the HR business."
Don Deieso
CEO
AlphaNet Solutions, Inc.
More Testimonials
