Talent Attraction and Retention
•Transferir como PPT, PDF•
2 gostaram•5,161 visualizações
**Download for slide notes.** Presentation given at the Women in Manufacturing Summit in Milwaukee, WI on October 29, 2012 by Marni Hockenberg of Hockenberg Search and Mary Scheibel of Trefoil Group. (Note the large file size)
Recomendados
Recomendados
Mais conteúdo relacionado
Mais procurados
Mais procurados (20)
Semelhante a Talent Attraction and Retention
Semelhante a Talent Attraction and Retention (20)
Mais de Trefoil Group
Mais de Trefoil Group (7)
Último
Último (20)
Talent Attraction and Retention
- 1. Talent Attraction and Retention Presentation at Women in Manufacturing October 29, 2012
- 2. Manufacturing jobs today • 875,000 shortage skilled workers by 2020 • 5 million new manufacturing jobs by 2020 • 56 is average age of high-skilled worker Attraction | Assessment | Engagement | Retention
- 3. Talent Life Cycle Strategies • Attraction • Assessment • Engagement • Retention Attraction | Assessment | Engagement | Retention
- 4. What’s in it for me? Attraction | Assessment | Engagement | Retention
- 5. Talent Attraction • Candidates are in the Driver’s Seat • Generational Differences • Employment Branding Attraction | Assessment | Engagement | Retention
- 6. Winning the Talent Game • Role of marketing in positioning your company for success Attraction | Assessment | Engagement | Retention
- 7. Why does my company need talent acquisition marketing? Attraction | Assessment | Engagement | Retention
- 8. Turn this talent challenge into a competitive advantage • Exceptional people seek out exceptional companies • Don’t be out-marketed by inferior companies Attraction | Assessment | Engagement | Retention
- 9. So where do you start? Attraction | Assessment | Engagement | Retention
- 10. Define what sets your company apart • Give people compelling reasons to want to work for you • What appeals to customers often appeals to recruits as well Attraction | Assessment | Engagement | Retention
- 11. Showcase your culture • Help hire the right people • Self-selection Attraction | Assessment | Engagement | Retention
- 12. Bring your brand to life • Online • PR and communications • Current employees • Videos and original photography Attraction | Assessment | Engagement | Retention
- 13. Tell a Compelling Story
- 14. Tell a compelling story
- 17. Be the leader – let others follow! • Participate and leverage regional initiatives • Connect with recruits Attraction | Assessment | Engagement | Retention
- 18. Dream !t. Do !t. Wisconsin
- 19. Dream !t. Do !t. Wisconsin
- 20. Dream !t. Do !t. Wisconsin
- 21. Be a destination employer
- 22. Be a destination employer
- 23. Be a destination employer
- 24. Be a destination employer
- 25. Be a destination employer
- 26. Be a destination employer
- 27. Talent Assessment • Performance based hiring • Interview team preparation • Assessment tools Attraction | Assessment | Engagement | Retention
- 28. Talent Engagement • ‘Love ‘Em Up’ Campaign • Onboarding Attraction | Assessment | Engagement | Retention
- 29. Talent Retention • Cost of employee turnover • What is measured? • Denial of problem Attraction | Assessment | Engagement | Retention
- 30. She’s Just Not That Into You • Employer/employee contract changed • Managers • Culture • Rewards Attraction | Assessment | Engagement | Retention
- 31. How to Keep Your Best Employees • Focus on high-potentials • Top drivers for retention 1. Job-interest alignment 2. Manager & co-worker quality 3. Respect 4. Collegial work environment Attraction | Assessment | Engagement | Retention
- 32. Retention Successes • Happiness Committee • Focus group • Emergency fund Attraction | Assessment | Engagement | Retention
- 33. In Conclusion • War for talent requires new strategies • Candidates need to be courted • Curb high turnover costs • Pay attention to retention Attraction | Assessment | Engagement | Retention
- 34. Thank You Marni Hockenberg Mary Scheibel Principal Principal Hockenberg Search Trefoil Group Executive Recruiting for Manufacturing 414-272-6898 952-500-9542 mscheibel@trefoilgroup.com marni@hockenbergsearch.com www.trefoilgroup.com www.hockenbergsearch.com Attraction | Assessment | Engagement | Retention
Notas do Editor
- How many of you are having a hard time finding qualified skilled workers at your company? Manufacturing took a big hit during the recession and now it is on the upswing, but many companies are really hurting and can’t find enough qualified people to fill their open positions. The Boston Consulting Group’s new report indicates that by the end of the decade, the shortage of highly skilled workers could balloon to 875,000 from 80,000-100,00 workers now! The current deficiency of workers represents less than 1 percent of the 11.5 total factory workers in the country. So it’s less of an issue in larger communities where the supply and demand evens out more efficiently thanks to a larger pool of workers. The report says that the U.S. is on track to create as many as 5 million manufacturing and support jobs by 2020 by recapturing production from China and offering an alternative to high labor and energy costs in Western Europe and Japan. Good news, but our workforce is aging and retiring, with the average age of a high skilled worker at 56.
- What do we need to address in today’s war for talent? Four important components and each must be strong and consistent. If one leg of the table is weak, the table will tip or fall. People are your greatest asset. Our conversation will revolve around these components. In my role as an Executive Recruiter in Manufacturing, I’m kind of like Patti, the Millionaire Matchmaker. How many of you watch the show..or how many will admit to your guilty pleasure? Recruiting top talent is similar to dating to find the ‘right one’. I’m Patti, and I know how and where to find those right people and I work with my client companies to make the perfect match with the right hire so they can live happily ever after and ride off into the sunset, and make lots of little gears and gadgets. Attraction – where do we find the elusive perfect candidate, and avoid kissing too many frogs? Assessment – once we’ve met some potentials, how do we peel the layers of the nice suit, good looks, and smooth lines? Making a hiring mistake is costly, and there’s no room for error during these tough economic times. Engagement – once we find and go steady with the ‘right one’, what can we do to ensure that they stay interested in the relationship and don’t start dating around again, behind our back? Retention – so we’ve landed a good one, this person is on board at our company and doing a great job. They might start getting calls from recruiters, and we still have competition. So what can we do to keep them interested by providing the right tools and culture?
- So…Julie answers the phone and I make a quick introduction and state the purpose of my call. She was referred to me by a trusted colleague for a VP Technical Services search that I’m conducting for one of my clients. It might represent a step forward for her which I’m prepared to discuss with her. But what is going through her mind? I’m flattered that you called me I’m too busy to talk I’m happy where I am but I’m open to hearing about another opportunity. All of those but the main thing she’s wondering is ‘What’s in it for me?’ WIFM! I don’t know this company – who are they? What is the company offering that I don’t have here? Show me why this company is better than this one. Show me how this isn’t just a job…I want a career opportunity. I want growth, or to work on special projects. How about the compensation? I’m already making $150K plus bonus and stock options. What is the culture like? Who is the leadership team and what is their tenure? Why is this job open? Do they have high turnover? I’ve been laid off twice in the last six years….what about stability? Or I’m already interviewing at another company….how does this one stack up? The questions go on and on…. In order to recruit her, I need to be able to attract her to the company, work with my hiring managers to assess her fit for the job and company, and ensure that my client can engage and retain her once she’s on board.
- Candidates in drivers seat. Julie knows this – she’s getting a lot of calls from recruiters. Recession – high unemployment, high # of candidates from 2007-2010. Tsunami of resumes, candidates. Company sitting pretty. Companies cherry picked high performers first, if possible. Traded out for top talent. Old school mentality. Ignored the pendulum and it swung back slowly. Companies hiring now and competing for top talent. Companies unprepared, old mind-set, rusty hiring practices, sitting on laurels of old days. Need data about unemployment shifts , Julie knows that she’s in high demand because her own company has a hard time attracting talent and she’s been contacted by a lot of recruiters. She is in the driver’s seat, and it’s our job to court her because she now has options. Candidates feel burned from being unemployed and undervalued during massive layoffs. Poor treatment by hiring companies. 2. Generational Differences For the first time in history, we have four generations working together. Each generation looks for jobs differently. How many of you have actually circled an ad in the Sunday employment section, mailed in your resume, received a letter from the company, and been invited in for an interview? Raise hands. I bet you wore a little blue scarf with your blue suit with the shoulder pads, right? Baby Boomers and Traditionalists look for jobs in different places ( find data on this ) Younger generations rely on Social Media and mobile technology. Companies are building online talent communities and using social media to attract and form relationships with these potential candidates. They are more likely to confer with their friends and check out company reviews online before applying to a job. Companies are building online talent pools. Job seekers are looking at Twitter, Facebook, and LinkedIn. Julie is 55- she’s a Baby Boomer, more likely to be looking on LinkedIn. Each generation evaluates job opportunities differently. The Millennials, X and Y are looking for flexibility, work/life balance, mentorship, special projects, immediate feedback. Baby boomers value stability, career progression, recognition, and loyalty both ways. In manufacturing we have not done a good job of promoting manufacturing as a viable career and forming relationships with local vo-techs to ensure a steady stream of younger workers. That is changing and that’s great…we will hear more about that later in the presentation. 3. Employment branding We are a consumer based society, and we make purchasing decisions bases partly on how we perceive the value of a product or service to our specific needs. Just like a product or service, companies need a brand. Buyers want to know what they can expect when they evaluate a purchasing decision, and candidates today are consumers too. They have choices and deciding to take a job is a buying decision. Julie wants to have a lot of information about the company and it’s culture before she buys into the interview and hiring process. A web site just doesn’t cut it anymore. As the company representative, I do my homework upfront and become the brand ambassador for my clients. It helps if the have gone through a good employment and company branding process. But if your company doesn’t’ have the advantage of partnering with a good recruiter then you will need employment branding. Introduce Treefoil group.
- What role does marketing play in positioning your company for success?
- Demand for skilled works is outpacing supply and competition is fierce Perceptions of manufacturing careers are not desirable Manufacturers, especially BtoB manufacturers are traditionally NOT MARKETERS. Even in customer acquisition, they’ve been sales not marketing-driven. They tell you what they do, not what they can do for you. So, it’s important to change this approach when targeting consumer audiences for careers. In this game, you compete against the largest, most successful and marketing-saavy companies around.
- But this is an opportunity for you to give people compelling reasons to want to work for you To answer, way before the interview process, why would I want to work for you? What’s in it for me? And to show them in everything you do – online, on campus, in community outreach and PR, why you matter and why working for you will produce a future that’s exciting and takes care of them and their families Beware….you can and will be outmarketed by inferior companies It’s not about telling people what you do, but showing why it matters
- Give people compelling reasons to want to work for you Why? What’s in it for me? It’s not about telling people what you do, but showing why it matters Establish an emotion connection A strong compelling story will: Produce people that share your vision Differentiate your company Change the conversation, repositioning competitors as followers
- Establish an emotion connection between your company and the people you’re recruiting. Local example: Generac Power Systems is headquartered here. They make back-up generators to power critical facilities during power losses. They’ll be on the scene as the hurricane hits the east coast later today. Now, do you say, “3 rd shift production workers wanted,” or do you say, “we work 24 hours a day to make sure that we can power hospitals, emergency operations and water treatment facilities during catastrophic storms and power outages?” That’s what’s important. A strong compelling story will: Generate interest with people that share your vision Differentiate your company in a meaningful way Change the conversation, repositioning competitors as followers. And the good news, for most of us, what appeals to customers often appeals to recruits. And, our customers want to know that we are able to bring the talent on-board that will help us innovate and provide the solutions and service they’re looking for today and in the future.
- Number one reason people today leave their jobs is because of culture And because the average age is over 50 in manufacturing, many companies suffer from a culture that is not multi-generational, warm and welcoming. As women that’s something we can play a significant role in shifting. If you have – or are working on a great culture – use it to differentiate yourself. It is different and it is important Make sure it’s a selector for people who will and WILL NOT fit. If you’re a performance driven culture, let people know our expectations so those who aren’t up to the challenge, walk away. If you don’t have a great culture, this is an area you could lead for your company – and there are lots of companies willing to help
- Online Website is the number one marketing tool today and those statistics are increasing Homepages, newsroom, careers microsites, video – all optimized for search and very exciting Don’t be boring – The distribution channel gives you the ability to showcase great creative, video photography. And the channel’s free so invest in the content! PR and community outreach 3 rd party credibility Establishes a leadership position Meets younger generation’s need to join companies that care about their communities and the world Provide you with content to use in campaigns, one-on-one conversations and to instill a sense of pride inside your company Employees as brand ambassadors. Huge allies in your communities and your industry if you empower them properly
- A small manufacturer – Remember David and Goliath? The small can win and this company’s good. It’s all about the people – I can’t tell you how often I hear that and then jump on sites that have long copy and small product photo inserts. This makes the people heros while still showcasing the products they make. These are real people getting the job done. Research with large OEMs – John Deere, Oshkosh Truck, Ion (energy exploration out of Texas) said this is the company they turn to to make sure the wheels don’t fall off the trucks on our military vehicles in Afghanistan
- Another small company, a short-run manufacturer a few hours outside of the Twin Cities. Again, people on their shop floor, highlighting their focus, versus shying away from it. Small companies need to be niche leaders.
- This is the screen capture of an on-line newsroom for a leading industrial manufacturer Dickten Masch Plastics with facilities throughout the Midwestern U.S. and Mexico. The newsroom is a place on your site visited very frequently by professional recruits. The top news items scroll and use imagery to attract attention. The team is pictured on the page so you know it’s not just one person who’s out there as a spokesperson. The photo gallery gives you a look inside their company
- Regional initiatives Local chambers Workforce development centers Educators Connect with recruits Tours, open door days Job fairs Co-ops, internships
- DIDI a national initiative sponsored by NAM. Wisconsin is the 21 st state to participate. You do your own thing locally. Designed this to be very consumer-esq, appeal to young people through imagery and video. At the top, places for parents, educators and manufacturers to learn more
- Using clever promotions to build our database. People who take plant tours can get these cards to jump on-line and enter a drawing to win restaurant gift cards. And these are kids, so we’re not talking high-end, gourmet restaurants. We’re talking Pizza Hut, much more affordable
- The first video is targeting machinists and welders because that’s a real gap in our region. These initiatives are going on across the country – through state-funded programs, workforce development centers too. The question is, What are you doing to leverage these initiatives? If we make young people more interested in manufacturing, how will this lead to you? Your jobs? And if they visit your website, will this be a “promise-delivered?” or “a letdown?”
- Destination website for a leading, global, Cincinnati-headquartered manufacturer Easy to remember url Immediately asks who you are – high school, tech college, veteran Ties to scholorship and co-op programs Strong calls to action Excellent use of photography Local chambers Workforce development centers Educators Connect with recruits Tours, open door days Job fairs Co-ops, internships
- Regional initiatives Local chambers Workforce development centers Educators Connect with recruits Tours, open door days Job fairs Co-ops, internships
- Regional initiatives Local chambers Workforce development centers Educators Connect with recruits Tours, open door days Job fairs Co-ops, internships
- Regional initiatives Local chambers Workforce development centers Educators Connect with recruits Tours, open door days Job fairs Co-ops, internships
- Regional initiatives Local chambers Workforce development centers Educators Connect with recruits Tours, open door days Job fairs Co-ops, internships
- Peer-to-peer communications Uses young people in the organization The president who started on the shop floor and now has 3,000 people around the world reporting to him – all because he insisted on taking drafting in high school. Parents love this. They don’t want their kids to have dead-end jobs. If we went around the room, I bet almost all of you have these people inside your companies who, if you capture their stories, will make that emotional connection you’re looking for with kids and their parents Connect with recruits Tours, open door days Job fairs Co-ops, internships
- Back to the story. Julie liked what she learned about my client, and agreed to enter the search process for the right reasons. I interviewed her and she was a great fit. Referred her to my client and now was the time for the talent assessment. This is another leg of the table, and one where many companies have fallen down because of poor or rusty candidate assessment processes. Luckily, I was working with a company that believed in and practiced a Performance Based Hiring method. What is Performance Based hiring? System for reducing hiring mistakes and recruiting better and more successful hires. How many of you have seen the ‘gut-based’ hiring decisions at your company, or the ‘I just liked them’ as the reason for making a hiring decision? And how did they work out? Sometimes they do, but it’s chancy. Hiring decisions based on emotions, biases, personalities, or stereotypes can be bad. The key is to train your team to base your hiring decisions on reason, and not emotion. Prepare a performance profile that describes the required results, the process used to achieve the results and the environment in which this happens. What is that? A performance profile describes 6-8 performance objectives a person taking the job needs to be successful. Write compelling job descriptions that emphasize the opportunities and challenges, not just the skills and qualifications required. What will the person need to perform in order to be deemed successful? For example, for the VP of Technical Services search, one of the performance objectives might be to improve customer service rating from 75% to 99% and reduce customer complaints by 85% within 12 months. A second objective is to increase service revenues by 55% through after-sale parts and warranty programs. Prepare your interview team with interview questions that map to the Performance Profile. Evaluate all candidates for each job in comparison with the real job needs. The Performance profile sets the standard. Don’t give any interviewer other than the hiring manager complete yes/no voting rights. Instead, each interviewer is assigned a subset of factors to evaluate. Assess all candidates using a formal assessment tool across the best predictors of job success using a clear ranking system. Conduct a formal debriefing session with all members of the hiring team actively participating. Do away with generalities, gut feelings, and intuition. They are unacceptable inputs for ranking a candidate. Require facts, dates, details, and specific examples to justify the ranking. Assessment tools – there are a variety of tools available, generally online. These tools are very helpful but you will want to use them as one data point, but not the reason to throw out a good candidate from the hiring process.
- Julie went in for the interviews. She was determined to have the right performance factors for the job and she was a final candidate. Fortunately my client had a clearly defined culture, clarity of vision that Julie agreed with, she was excited that her increased global responsibilities would elevate her visibility in the company, and she clearly understood the expectations for success, how she would make an impact through increased service revenues and customer retention. In addition, she felt like she ‘fit in’ and the other senior leaders assured her that they were glad that they joined the company. We discussed counter-offers, I made sure her significant other was on board, and the compensation was agreeable to her. In short, she was ready to accept an offer. I coached her through the resignation process which she had never done before. Things are good, right? Maybe not… However, within the time frame she had been contacted by other recruiters and had been interviewing at other companies. She had a basis of comparison and knew that she’d made the right decision…or did she? From my experience, top candidates can get ‘buyers remorse and don’t always shut the door on the other opportunities. Have you ever received that phone call from a candidate and learned that he/she changed their mind or took another offer? Me too! When you are hiring, there is a fragile time between an offer acceptance and the day the new hire shows up to work. Usually it’s two weeks, and a lot can and will happen. How do you insure that your new hire will show up or stick around for the first year? (FIND DATA ON PERCENTAGE OF NEW HIRES THAT LEAVE). There isn’t a guarantee and that’s why engagement is so important. Talk about the ‘Love Em Up’ Campaign. The goal is to make sure that the new hire feels like they are wanted, and are a part of the team right away. Keep them excited! Need to feel they are mentally part of the team, even though they are still at the other company, where the boss doesn’t want to lose them and are still working at ways to keep them. You are competing with the comfort zone of a candidate. Change can be hard. They can start second guessing their decision to leave. Simple things – send a care package with company logo items such as mugs, hats, shirts, pens, portfolios, etc. Include items such as coffee or chocolates that the family can enjoy. Some companies even send restaurant gift certificates or flowers to the home. This helps family members support the new hire. Ask them to complete a short assignment, or provide a 30/60/90 day transition plan for their first few months on the job. Invite them to your company for cookies and coffee to meet the other team members. They need to step foot in your company between the time they resign and start. They will start identifying with your company. Discuss onboarding Julie received an email with an online onboarding link right after she accepted the offer. It included company information, product tutorials, internal processes, team information, and other information to ensure that her transition was smooth. She started feeling like a member of the team right away. Her desk was set up, her computer was up and running, meetings with key stakeholders were set including lunch with the CEO where they discussed the company vision and how Julie was going to contribute to their growth. Eventually she met with the HR business partner, and they laid out a plan for her career development. She was identified as a high-potential. She knew what was expected and how to get there. After a few months she participated in an employee satisfaction survey, and the results showed that 78% of the employees would recommend their company to others as a great place to work.
- Let’s fast forward 9 months. I’ve called Julie to find out how she’s doing at my client company. Candidates are honest with me, and they share their joys and frustrations. My client has invested a lot of resources in Julie, and I want to make sure that she is going to stay. She assures me that she’s very happy and that she’s actually taken on some special projects that were given to her by the CEO. It’s been a good move for her. According to a study done by the Hay Group, 20% of employees plan to look for a new job in the next two years, and another 20% plan to leave their employers within the next 5 years. The trend suggest a high level of discontent in the workforce. I’m not surprised and, judging from the number of currently employed people that I Know who are looking, this may be a low number. What is the cost of employee turnover? 1. SHRM, the Society for Human Resource Management, estimated that it costs $3,500.00 to replace one $8.00 per hour employee when all costs — recruiting, interviewing, hiring, training, reduced productivity, et cetera, were considered. SHRM’s estimate was the lowest of 17 nationally respected companies who calculate this cost! 2. Other sources provide these estimates: It costs you 30-50% of the annual salary of entry-level employees, 150% of middle level employees, and up to 400% for specialized, high level employees! Do a quick calculation: Think of a job in your organization where there has been some turnover, perhaps supervisors. Estimate their annual average pay and the number of supervisors you lose annually. For example, if their average annual pay is $40,000, multiply this by .125% (or 125% of their annual pay, a reasonable cost estimate for supervisors). This means it costs $50,000 to replace just one supervisor. If this company loses ten supervisors a year, then 10 times $50,000 equals $500,000 in replacement costs for just supervisors. This is the bottom line cost. The top line cost? If the company’s profit margin is 10%, then it costs $5,000,000 in revenues to replace these ten supervisors. What factors into the costs of turnover? Exit costs Recruiting Interviewing Hiring Orientation Training Compensation & benefits while training Lost productivity Customer dissatisfaction Reduced or lost business Administrative costs Lost expertise Temporary workers 3. Real turnover costs are usually higher than what we think they are, unless we actually measure them. 4. Some turnover is desirable. You need to replace marginal or poor performers with more productive and innovative thinkers with up-to-date skills. But high turnover costs are avoidable with the right strategy. 5. Companies need to focus their efforts and resources on retaining great performers and replacing poor ones. 6. Can’t bury your head in the sand and think that just because your top performers are still there, that they are happy and not looking around for a new job. Why don’t companies see this as a costly problem? They don’t have a process to measure it so they don’t know it’s costing them money. Costs aren’t reported to top management. Some think that it’s an unavoidable cost of doing business. It’s not! Some turnover is unavoidable, but turnover of your top performers can be negated with the right programs in place. Some companies think it’s an HR problem. It’s not! It is a strategic issue that requires top management’s attention and actions, in addition to HR’s efforts to resolve it. It is a management issue.
- Good reasons for discontent – employees working harder as result of downsizing, limited base salary increases and incentive payouts in recent years, and increased pressure to perform. Also the social contract with the employer/employee is changing as result of the layoffs. Managers. Authors Marcus Buckingham and Curt Coffman said in their book, First Break All the Rules: What the Worlds’ Greatest Managers Do Differently that people don’t leave jobs, they leave managers. If employees don’t get along with their managers, don’t like them or respect them, they will leave a company despite a high salary or great benefits. A bad manager is a big factor in employee performance. A good manager will inspire loyalty. Managers who don’t create the right opportunities for their employees, don’t communicate with them, and don’t appreciate them often find themselves dealing with a high turnover rate. Good managers are people you keep in touch with even after you leave a position. Bad managers are people you keep track of so you can avoid them in the future. Culture. People want to fit in, they want to be valued, get things done, feel empowered, know what’s expected. They don’t want to deal with politics and personal agendas that are not only tolerated but encouraged in some companies. The culture starts at the top with the CEO, President or business owner. They set the tone for what will and won’t be tolerated. If you have a culture of innovation, or collaboration, or work hard/play hard, this must be communicated up front in your employment branding all the way through the interview process and articulated by everyone in the process. If the new hire finds that there is a disconnect after they come on board and they can’t navigate comfortably within the culture, you may lose them. I’ve heard too many examples of the ‘fear based culture’ which often starts at the top. People are afraid to make mistakes, and then they become risk-averse and don’t speak up. A good culture is one that gives permission to make a mistake, learn from it, and do better the next time. Compensation and rewards are critical factors. Employees want to be rewarded for their efforts at a competitive rate. If you are starting to lose your skilled labor to the company down the street, it is time to re-evaluate your compensation structure. What are some of the ways that manufacturing companies can retain their talent?
- How do we do a better job of retaining employees, especially your key people? Rank them in three categories: best, middle and lowest performer. Your goal is to retain your high performers, develop and retain your middle performers and turn them into near-top performers if possible, and potentially replace your lowest performers. Job interest alignment – make sure that people are doing the jobs they’re interested in. Give them some small choices and a little bit of control. Manager and co-worker quality . High performers want the bar raised on the quality of the managers they work for, and the quality of their peers. Respec t – a culture of respect goes a long way in keeping people engaged. If you don’t show respect or don’t respect them, they will look for another job Collegial work environment Mentoring – sharing knowledge increases information retention and builds trust within teams. Pay bonuses quarterly or monthly . Waiting for annual bonus doesn’t tie performance closely with behavior that is rewarded. Compensation package must be competitive, and in some hard to fill jobs, may need to be top dollar. Work/life balance . Especially true for Generations X, Y, and Millenials. Employee recognition for going the extra mile and for team work. Training, career growth .
- I spoke with some manufacturing executives in my network and asked how they retained their best employees. I learned that some of the simple solutions yielded the best results. Here are some examples of what some companies in manufacturing are doing: Permac Industries is a custom manufacturer of precision parts in the Twin Cities. They were named as the Top Woman-Owned Manufacturing Company of the Year. Darlene Miller is the CEO and she told me about their ‘Happiness Committee’ which meets monthly. It started out being called the ‘Work/Life Balance’ committee but morphed into something more fun. They brainstorm ideas on how to make it a better place to work, and have representatives from different areas of the company. The first year they had a Secret Santa program, and the guys thought it was corny. But they saw how fun it was and all of the guys participated the next year. Darlene says that the Permac Promise is to make it a fun place to work. It gives the more introverted person a voice to be heard. Their turnover is very low. Tennant Companies manufactures cleaning equipment in the Cities. I met with Phil Boeke, their HR Manager who shared some of the ways that they retain their employees. They went through a rebranding process similar to Trefoil’s. Did a focus group and asked people why they stayed. Once again, they had created a good culture of stewardship where employees were encouraged to leave things in better condition than when they found them. They provide ongoing lean and continuous improvement training to their leaders. They have a monthly meeting for their Production people called ‘What’s on Your Mind’. Another company has an ‘emergency’ fund for employees who are faced with critical financial hits from family emergencies. They are granted the money, and it’s confidential. It’s a safety net for people who otherwise don’t have the financial resources to handle an unexpected crisis. These are some examples of what companies are doing.