Think about the time it takes to train a brand-new employee. You have to show each one the ins and outs of the job, and you have to hope the culture fits the new hire and vice versa.
Fortunately, A. Ray Dalton, president and CEO of PartsSource LLC, and his team don’t have to worry about that all too much at the company, which sells replacement medical equipment parts. Their work force is stable with a retention rate of more than 90 percent, allowing the company and the employees to plan for their futures.
The high retention rate becomes more important because of the number of employees that the company hires on a regular basis and, in turn, has to train.
Since 2004, PartsSource has added almost 150 new jobs for a growth rate of 208 percent. The company has never suffered any layoffs, and Dalton and his team continue to hire five to seven new associates every month while growing 347 percent in the last five years.
The company also continues to drive internal growth by rewarding the top employees with an almost exclusive promote from within policy. The policy gives employees the opportunity to grow with the company and move up the ladder no matter where they started in the company.
Each associate receives standardized performance reviews, and the employee’s professional progress is closely monitored to ensure that he or she is on the correct track. If, for any reason, the company feels an employee is not working out as planned, the search begins for other available positions within the company that might be a better fit for the employee.
PartsSource is so serious about grooming future leaders that Corporate College was enlisted to conduct classes at the company each Friday so managers and potential managers can learn to become better leaders.
On a personal level, PartsSource also goes the extra mile with employees by encouraging them to become involved in charitable activities, which the company actively supports.
With solid training of employees and then retention of those same employees, it’s easy to understand why Dalton and PartsSource continue to succeed at a pace that would make most businesses jealous.
How to reach: PartsSource LLC, (330) 562-9900 or www.partssource.com