They have a consistent employment retention strategy
Every organization today must be able to retain its employees. Recruiting and onboarding employees is not that difficult compared to retaining them for a long time. This is especially true when it comes to part-time workers. Walmart recognizes this, which is why they have a full HRM: Recruitment, Selection, Employee Retention
It's in Walmart's interest to improve their employee retention strategies as much as they can so that they can reduce turnover and the costs that go along with it. Employee turnover costs a lot, especially when considering the expenses the company has for training, selecting, and recruiting their part-time employees.
Walmart has a combined set of approaches for achieving their employee retention. Here are their most applicable strategies for this purpose:
- Recognizing and acknowledging employees based on their performance.
- Giving employees added benefits based on their position or status.
- Providing incentives to employees based on their position and status.
All of these strategies apply to all their employees, no matter if they are full-time or part-time. In most cases, companies don't take into account their part-time employees within their retention strategies but Walmart does. Affordable insurance and health care options
Most companies don't provide any benefits to their part-time employees because they don't consider these employees as dedicated members of their organization. This is not the case with Walmart. They give both full-time and part-time associates who are eligible affordable options that also include 100% covered eligible preventive care without lifetime maximum.
They also have medical plans that start at $25 per day and this includes vision and dental plans. They also provide domestic coverage partners and have a program that covers advanced procedures such as lung cancer, knee or hip replacements, heart procedures, spine procedures, and many others.
All the part-time employees also get free access to health care advisors in the company and nurse care managers. These are just some of the insurances that Walmart offers for part-time employees. In reality, a very small number of companies will provide such benefits, which is very appealing to their employees and the main reason they stay with the company for a long time.