Exploring How We Achieved A 90% Employee Retention Rate In Our International Business: Six key factors of success

By Laird Mulderink

One of the biggest challenges facing businesses today is employee retention. Retaining top talent is crucial to the success of any business, and the cost of replacing an employee can be significant. For international businesses, this challenge can be even more difficult, with cultural differences, language barriers, and varying work expectations to navigate.

However, one international business I led managed to achieve an impressive 90% employee retention rate, demonstrating that it is possible to overcome these challenges and create a workplace culture that attracts and retains top talent.

The business in question was a craft brewery with production facilities and consumer facing taprooms with full service kitchens in both Vancouver, B.C. and Fort Collins, Colorado. The breweries operated independently, producing the same flagship brands, while at the same time challenging each other through innovation and creativity. Despite the diversity of location, culture, equipment, local market trends and more we managed to maintain a high level of employee retention across both locations.

So, what has this company done to achieve such a high level of employee retention? Here are some of the key factors:

1. Strong leadership: We had a clear and consistent leadership structure, with strong leaders at all levels of the organization. Leaders are accessible, supportive, and invested in the success of their teams.

2. Employee development: We invested heavily in employee development, offering training and development programs at all levels of the organization. Employees were encouraged to take ownership of their own development and were provided with the resources and support to do so.

3. A culture of collaboration: We placed a strong emphasis on collaboration and teamwork. Employees were encouraged to work together across teams and offices, and the company provided tools and resources to facilitate this collaboration. Examples of this included outstanding communication of organizational goals creating a “one team, one dream” mentality, rotating employees through an interdepartmental safety committee to allow every voice to be heard and cross training between departments to create a broader sense of awareness and accountability.

4. Competitive compensation and benefits: We offered competitive compensation and benefits packages to all employees, ensuring that they felt valued and recognized for their contributions.

5. Flexibility: We recognized that employees have different needs and priorities outside of work, and we offered a range of flexible work arrangements to accommodate these needs. We encouraged employees to find a charity or cause that they were passionate about where we then either partnered with or gave sweat equity to the cause as a team. This allowed employees to feel heard, valued and gave their work a cause above and beyond the products leaving the loading dock. Almost always can an organization accommodate, with proper communication, the ability to allow a team member to attend an appointment, child’s play, spouse’s work dinner or anything else for that matter.

6. A focus on work-life balance: We recognized the importance of work-life balance and encouraged employees to prioritize their well-being. This included providing access to continuing education, wellness programs/gym memberships and resources to support mental and physical health. Day to day, we achieved this by limiting overtime not just for the company’s benefit but for the employees’ as well. 40 hours means 40 hours. When salaried, we limited work to no more than 45 hours. If we are exceeding those, we look back at our organization chart and seek solutions where one department can chip in to help another. When some weeks require more, we keep track and allow for less work in a future week to balance out the long term so as to ensure we practice what we preach.

By focusing on these key factors, we managed to create a workplace culture that attracted and retained top talent. Its high employee retention rate is a testament to the effectiveness of our approach and demonstrates that it is possible to create a successful, thriving business while also prioritizing the well-being and satisfaction of its employees.

Of course, achieving a 90% employee retention rate is not easy, and it requires ongoing effort and investment. However, the benefits of retaining top talent are clear. Not only does it save the significant costs associated with recruiting and training new employees, but it also helps to create a stable and productive workforce that can drive the success of the business.

For businesses looking to improve their employee retention rates, the key is to focus on creating a workplace culture that prioritizes employee well-being and development, and that recognizes the importance of collaboration, flexibility, and work-life balance. By doing so, they can attract and retain top talent, and create a successful business that is built to last.

Laird Mulderink is a long-term Canada Colorado Association member (a partner organization of IBCircle in Colorado). He is an experienced production and manufacturing manager with over 17 years of driving growth through quality assurance and employee development. (LinkedIn Bio). He can be reached at: lmulderi23@gmail.com