Industry: Healthcare & Pharmaceuticals Business Need: Goodwill & Community, Labor Costs, Onboarding & Training, Recruiting & Efficiency, Retention & Productivity

By partnering with public workforce agencies, CVS Caremark has hired, trained and retained 48,000 workers, and the company realized a 30% higher retention rate amongst entry-level workers.

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"Our investments in training and workforce development have helped us meet the need for good jobs in the communities we serve while also meeting our own need for colleagues who can deliver the best customer service in our industry."
Lisa Bisaccia, Senior Vice President and Chief Human Resources Officer
CVS Caremark

THE CHALLENGE

To support the exponential growth accomplished by CVS Caremark in the past 10 years, the company needed a large source of entry-level talent and a way of developing that talent into high growth/high need positions.

THE SOLUTION

By partnering with public workforce development entities, CVS Caremark tapped unconventional talent sources while creating a profit center for the company. It collaborated with public workforce agencies in high unemployment communities to source and train a workforce for entry-level jobs within retail pharmacies. As a result of their efforts, today CVS Caremark trains more than 1,500 entry-level and incumbent workers per year at each site.

THE OUTCOME

  • 48,000 hired, trained and retained
  • 30% higher retention rate
  • 179% return on Work Opportunity Tax Credit relative to costs

 

Source: Corporate Voices for Working Families. CVS Caremark Case Study. 2012.

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