Adviser Winter 2019-20 LeadingAge New York Adviser LeadingAge NewYork Winter 2019-20 | Page 43

New Year...
(Continued from page 41)
Another topic that came from the dialogue sessions was how the lack of reliable
transportation affected both individual employees and the organization as a whole.
Many of Loretto’s employees
Pragmatic altruism has proven successful by reducing
do not have a car. They rely
Loretto’s employee turnover from the industry standard
on public transportation
to get to work. Whenever
70 percent to a significantly lower rate of 40 percent.
there is a delay in the line,
employees are late for work, and if the demands of the job require them to stay after
their shift to wrap things up, they leave their duties to catch their ride home. In addition
to interfering with work schedules, not owning a car gets in the way of employee
promotions – as a manager, you have to be able to arrive on time, cover for your staff and
stay late as needed.
of
It’s easy to see how this hurts
employees, but what about how
it impacts business? Every time
an employee is late, the schedule
is disrupted. It is also disrupted
every time an employee is
unable to stay late to finish an
incomplete assignment or cover
for co-workers.
Thus, Loretto partnered with
a local credit union to pilot a
program that enables employees to
become qualified for an auto loan
to purchase a vehicle. Is it easy to
qualify? No, and it shouldn’t be. It’s
an extensive process that involves
revisiting the details of past
finances, pursuing financial counseling, developing a budget, etc. However, it blazes a trail
for many where there wasn’t even a path – and that’s what pragmatic altruism is all about.
Pragmatic altruism has proven successful by reducing Loretto’s employee turnover from the
industry standard of 70 percent to a significantly lower rate of 40 percent. Loretto is now
exploring providing child care support and expanding its apprenticeship programs that allow
employees to ‘earn while you learn’ in 2020.
Dr. Kimberly Townsend, MBA, MPA, JD, Ed.D, CPA, FACHE, is president and CEO
at Loretto Management Corporation in Syracuse, NY and an expert in health care
management and leadership. She is also the author of the book Lifecircle Leadership: How
Exceptional People Make Every Day Extraordinary. After nearly 20 years in the field of
health care, Dr. Townsend has seen how leaders at all levels have the power to make a
positive impact on employees, the people they serve and the community at large. The key is
to approach problems and their solutions with the mindset of pragmatic altruism, which
believes that every problem has a solution that benefits all parties.
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