Strategies for Staff Retention: How Chad Price Keeps MAKO Medical’s Workforce Engaged and Loyal

Busines NewsWire
10th February 2025, 20:44 GMT+11

In the highly competitive job market in 2025, retaining top talent has become a critical priority for businesses. The cost of losing employees goes beyond financial expenses-it disrupts workflows, lowers morale, and impacts organizational stability. Chad Price, the CEO of MAKO Medical Laboratories, has set a benchmark for staff retention with his people-first approach, creating a workplace culture that inspires loyalty and engagement.

Since founding MAKO Medical in 2014, Price has successfully built a workforce of over a thousand professionals, blending innovation with a deep commitment to his employees’ well-being. His strategies are keeping talent and fueling MAKO Medical’s rapid growth and positive reputation in North Carolina and beyond.

Understanding the Importance of Staff Retention

The Cost of Employee Turnover

Replacing employees is costly, and recent data from 2025 highlights just how significant these expenses have become. On average, it costs businesses $4,500 to recruit and onboard a new employee-a figure that doesn’t account for the lost productivity during the transition. For larger organizations, these numbers can skyrocket, making retention a key driver of financial stability.

Chad Price’s approach at MAKO Medical recognizes that retention is more cost-effective than recruitment. By investing in employee satisfaction and creating a supportive environment, he reduces turnover and its associated expenses, ensuring the company remains competitive.

Retaining vs. Recruiting: Why It Matters

Long-term employee relationships foster a sense of belonging, which is invaluable for productivity and morale. Retained employees develop institutional knowledge, mentor new hires, and contribute to a cohesive team dynamic. MAKO Medical exemplifies this with its high retention rates and a workforce that shares a unified vision.

Price often emphasizes, “Retention is not just about keeping people-helping them grow with the company. “ This philosophy underpins MAKO Medical’s success, ensuring employees feel valued and motivated to contribute to the company’s mission.

Chad Price’s Philosophy on Retention

At the heart of MAKO Medical’s retention strategy is Chad Price’s belief in people-first leadership. He prioritizes understanding his employees’ unique needs and adapting workplace practices accordingly. By listening to feedback and addressing concerns, Price has created a culture of trust and respect, which has become a cornerstone of MAKO Medical’s success.

Key Strategies for Retaining Employees in 2025

Flexible and Hybrid Working Models

The pandemic reshaped workplace expectations, making flexibility a top priority for employees in 2025. Research shows that professionals increasingly prefer hybrid or remote work options, and companies that adapt to this trend are better positioned to retain top talent.

While healthcare operations like MAKO Medical require some in-person roles, Chad Price has found creative ways to incorporate flexibility. Employees are offered options such as staggered shifts, additional paid time off, and adjustable work hours to accommodate personal needs. These efforts demonstrate Price’s understanding of evolving workplace dynamics and his commitment to supporting employees.

Providing Training and Development Opportunities

Continuous learning is a cornerstone of employee satisfaction, and Chad Price has made it a central focus at MAKO Medical. The company’s MAKO-U initiative offers employees accredited training programs, including phlebotomy and diagnostic testing courses. These opportunities enhance employees’ skillsets and open doors for career advancement within the organization.

MAKO Medical invests in professional growth to ensure its workforce remains engaged and motivated. Employees recognize that the company is committed to their long-term success, strengthening loyalty and reducing turnover.

Empowering Employees with Autonomy

Micromanagement can stifle creativity and lead to dissatisfaction, so Chad Price emphasizes the importance of granting autonomy to his employees. At MAKO Medical, staff are trusted to manage their responsibilities and contribute to decision-making processes. This approach fosters innovation and empowers employees to take ownership of their roles.

Research from the American Psychological Association confirms that autonomy enhances job satisfaction. MAKO Medical’s retention rates are a testament to the effectiveness of this strategy. Employees feel valued and respected, which leads to higher engagement and long-term commitment.

Building a Positive Work Culture

Clear and Transparent Communication

Effective communication is a cornerstone of successful staff retention. Employees thrive when they understand their roles, responsibilities, and the company’s goals. Chad Price ensures that MAKO Medical prioritizes clear, transparent communication across all levels of the organization.

At MAKO Medical, regular team meetings and one-on-one check-ins foster open dialogue between leadership and staff. Slack and Zoom help maintain consistent communication, even in hybrid or remote work environments. This focus on transparency prevents misunderstandings and builds trust, encouraging employees to feel more connected and aligned with the company’s mission.

Creating a Supportive Work Environment

A supportive workplace is essential for employee satisfaction. MAKO Medical goes beyond offering competitive benefits by fostering a culture that values mental health, collaboration, and work-life balance. Chad Price’s leadership encourages team members to prioritize self-care and seek support when needed.

One unique aspect of MAKO Medical’s culture is its commitment to veteran employment. By reserving positions for U.S. military veterans, the company integrates disciplined, service-oriented professionals into its workforce. Additionally, MAKO Medical engages in philanthropic efforts, such as volunteering to build homes for veterans and supporting community charities. These initiatives create a sense of purpose and camaraderie among employees, further strengthening the workplace environment.

Employee Feedback and Engagement

Chad Price emphasizes listening to employees and acting on their feedback. MAKO Medical gathers input from staff through anonymous surveys, suggestion boxes, and open forums. However, the key to success is taking meaningful action based on this feedback.

For instance, when employees suggested workflow improvements, the leadership team implemented new tools and streamlined processes. This responsiveness enhances efficiency and shows employees that their opinions matter. By creating a feedback loop, MAKO Medical builds a culture of continuous improvement, ensuring employees remain engaged and valued.

Competitive Compensation and Career Growth

Offering Competitive Benefits

Competitive pay and benefits are foundational to staff retention. MAKO Medical regularly reviews its compensation packages to ensure they remain aligned with market trends. Beyond salaries, the company offers comprehensive benefits, including health insurance, retirement plans, and wellness programs.

Chad Price also recognizes the importance of non-monetary benefits, such as paid time off, flexible schedules, and mental health resources. These perks contribute to employee well-being, making MAKO Medical a desirable workplace in an increasingly competitive job market.

Promoting Career Advancement

Clear opportunities for career growth are potent motivators for employees to stay with a company. Career advancement is a priority at MAKO Medical, and regular performance reviews, mentorship programs, and leadership training support it.

MAKO-U, the company’s internal training initiative, fosters professional development. Employees have access to cutting-edge training in diagnostics, laboratory technologies, and quality control. This investment in their growth benefits the workforce and strengthens MAKO Medical’s reputation as an industry leader.

Employees who see a clear path to advancement are likelier to remain loyal, knowing that their career aspirations align with the company’s vision.

A Retention Blueprint for the Future

Chad Price’s leadership at MAKO Medical Laboratories offers a masterclass in effective staff retention. He has created an environment where employees feel valued and motivated by combining flexible work models, professional development opportunities, clear communication, and a supportive workplace culture.

MAKO Medical’s success underscores the importance of aligning business goals with employee satisfaction. As companies navigate the competitive labor market in 2025, adopting these strategies can lead to a loyal, engaged workforce and sustainable growth.

The lessons from MAKO Medical are clear for businesses looking to thrive: invest in your people, listen to their needs, and create a culture that fosters growth, innovation, and purpose. By doing so, companies can build a legacy of excellence and resilience, just as Chad Price has at MAKO Medical.

Source: Busines NewsWire

Originally published at https://www.bignewsnetwork.com.