Long employee tenure leads to higher construction revenue
The average tenure of the 180 employees of Redwood City, Calif.-based W. Bradley Electric is 9.3 years—three times the national average in the construction industry.
Execs there say that longevity has contributed to revenue growth from $65 million to $75 million in just two years. Employee retention, says CEO Leslie Murphy, contributes to customer retention. Among the firm’s strategies:
- After laying off employees during the recession, the company ramped back up by rehiring as many of them as it could.
- A full menu of traditional and voluntary benefits has been a key to attracting and retaining the best workers, Murphy says.
- The company has an on-site gym and offers yoga classes.
- Financial, legal and mental health counseling professionals visit the company’s offices three times a year to work with employees.
- Regular, all-hands meetings keep employees in the loop about company decisions and progress, a tactic that helps ease the worry that inevitably persists in any company that has laid off employees.
- Employees are encouraged to volunteer in the community.
Contact: Leslie Murphy, (650) 701-1502.