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Tague Women-in-Manuf - Paper

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Tague Women-in-Manuf - Paper

  1. 1. building their own corporate ladder Women in manufacturing— a critical talent pool—share their career decision insights with Kelly®
  2. 2. An existing shortage of skilled talent in manufacturing has created uncertainty when it comes to the future supply. Could women be the key to overcoming this talent gap? Despite comprising nearly half of the U.S. labor force, women continue to be significantly underrepresented in the manufacturing industry—but it seems the solution doesn’t lie in hiring women, but in retaining them. First, let’s take a look at the overall industry factors that affect everyone in manufacturing. OVERVIEW /02
  3. 3. /03 Turnover rates within the manufacturing industry are significant 23% in 20131 80% While this may seem like good news to the hiring manager who wants an expanding talent pool of workers—perhaps by luring them away from competitors—this same hiring manager may just as easily lose their new talent to another company. Retention is difficult across the board—especially for companies that do not implement the changes desired by today’s manufacturing talent. 80 percent of manufacturing employers say they have moderate to severe shortages of skilled and highly skilled talent2 And while the numbers for employee turnover in manufacturing haven’t changed in the past few years, the reasons have. Performance issues and layoffs, past factors for turnover in manufacturing, are being replaced by voluntary quitting. More and more, employees are making the conscious, voluntary decision to leave their employer rather than being forced out: 9.8% in 2010 10.9% in 2012 10.7% in 2011 11.1% in 2013 SKILLED TALENT HIGHLY SKILLED TALENT Associate degree or experience equivalent Bachelor’s degree or experience equivalent 1 per BLS 2 Accenture 2014 Manufacturing Skills and Training Study
  4. 4. An aging workforce— accelerated! Shortages and challenges are magnified due to an aging workforce—as a whole, manufacturing talent is nearly 10 percent closer to retiring than talent in all other U.S. industries. Over the age of 45: 51%of all U.S. manufacturing talent 42%of workers across all industries RETIREMENT /04
  5. 5. The bottom line The inability to find skilled manufacturing workers negatively impacts the bottom line. When the necessity to pay overtime wages goes up, quality, productivity, and efficiency take a hit. When overtime goes up, quality, productivity, and efficiency go down. Overtime Quality Productivity Efficiency /05
  6. 6. Women as the solution Women could fill the skilled talent gap in manufacturing—but understanding employee preferences of this demographic, and ensuring their contentment, is more important than ever. What women in manufacturing want, what they don’t want, and what would make them stay with their current employer is no longer a secret. This critical talent pool has spoken loud and clear to Kelly. And it’s the companies that will listen—the ones that invest in their female workforce and implement changes—that will capture their loyalty, and possibly avoid the unexpected talent shortages that could hamper their business goals. The top three factors that influence the decision of female manufacturing workers to remain with an employer mirror those that initially drew them in: 56% 42% Salary and benefits Opportunities for advancement 33% Work-life balance /06
  7. 7. Focusing on what’s important While 2014 data shows signs of disengagement, women in manufacturing are choosing to focus on what’s important to them when making employment decisions. In manufacturing, women are: • Closely scrutinizing their employer’s offerings • Taking a closer look at what lies ahead in their career • Placing greater importance on expanding their skills • Redefining their corporate ladder OVERVIEW Women are seeking employers in manufacturing willing to offer professional growth and work-life balance—but will they find these employers? /07
  8. 8. 15,600+ 12,250+ 9,300+ Insights For the Kelly Global Workforce Index™ we surveyed: About the Kelly Global Workforce Index (KGWI) report The annual KGWI brings together work and workplace insights sourced from more than 230,000 respondents from 31 countries across the Americas, EMEA, and APAC regions. It takes the form of an annual survey that canvasses a wide spectrum of opinions on issues impacting the contemporary workplace, with a particular focus on the perspectives from different generations, industries, occupations, and skill sets. Topics covered include: • Career development and upskilling • Workplace performance • Employee engagement and retention • Social media and technology global manufacturing-related industry workers in the Americas in the U.S. /08
  9. 9. What follows is what women in manufacturing told us. /09
  10. 10. Disengagement: Women in manufacturing showed signs of disengagement in 2014. This could be good news for hiring managers who are looking to fill their talent gap by hiring women away from their current organization—but very bad news for the hiring managers who want to hold onto key employees. How easily can your female employees be lured away? In manufacturing, one out of three female workers frequently thinks about what lies ahead for them in the job market. They give strong consideration to quitting their job and leaving their employer. “My current employer isn’t investing in my career— will another company?” 33% /10
  11. 11. Even happily employed female manufacturing workers are looking for new opportunities on a regular basis, and they are using social media to build their personal brand. Among the female manufacturing workers actively looking for “better” job opportunities and alternatives to their current job— even when happy in their job—36 percent do so on a daily basis. When it comes to a job, happiness does not always equal loyalty or engagement. Similar to male workers (40%), nearly four in 10 female manufacturing workers actively look for better job opportunities or evaluate the external job market even when happy in their job. “I like my job, but I’m always open to a better opportunity.” 38% /11
  12. 12. When it comes to work, perhaps money isn’t everything— and neither is climbing the corporate ladder. Most female manufacturing workers would prefer that their employer offer opportunities to expand their skill sets—perhaps in preparation for future advancement, or as a means to greater personal fulfillment. Women in manufacturing are willing to make some trade-offs for professional growth and personal fulfillment. And when their workers gain broader skill sets and develop the ability for greater work contributions, employers are beneficiaries. “I want to define my own corporate ladder.” Most female manufacturing workers would prefer that their employer offer opportunities to expand their skill sets. /12
  13. 13. While there’s no mistaking that pay is the main driver of attraction and retention, workers—both female and male—also prioritize their professional growth and personal fulfillment. Resoundingly, many workers would be willing to trade higher pay and/or career growth or advancement to learn new job skills and achieve a greater work-life balance. “Learning new skills is very high on my list.” Upskilling 57% 62% Sensing that skill development is a “golden ticket” to a better future, more than half of the women in manufacturing are likely to give up higher pay and/or career growth or advancement for an opportunity to learn new skills More than six in 10 women in manufacturing view upskilling as a short-term career goal 38% Less than four in 10 would rather advance to a higher level than gain new skill sets /13
  14. 14. “Let me spell out exactly what I want.” 1 | Salary and benefits 2 | Advancement opportunities 3 | Work-life balance When weighing their employment options, female manufacturing workers give greater weight to nearly all factors measured than their male counterparts. 87%vs. 84% | Salary/benefits; incentives 71% vs. 65% | Advancement opportunities 66%vs. 61% | Work-life balance options 62%vs. 58% | Training/development options 51%vs. 45% | Knowledgeable colleagues 49%vs. 38% | Flexible work arrangements 48%vs. 37% | Environmental responsibility 35%vs. 27% | Diversity/equal opportunities 30%vs. 27% | Sense of meaning from work 25%vs. 20% | Unexpected perks (on-site gym?) 19%vs. 16% | Corporate sovereignty/goodwill /14
  15. 15. Female workers are extremely open to flexible employment options. Will this be the defining perk between those who retain and those who lose skilled talent? Offering female candidates more money and better benefits than competing positions will certainly influence their employment decisions. Beyond compensation, other key factors play an important role in the decision to choose one employer over another—including flexible employment options. Achieving a greater work-life balance is increasingly important to female manufacturing workers. “Other employers offer flexibility and balance. When will my industry catch up?” Of the female manufacturing workers we surveyed: 49% 35% are likely to forfeit higher pay or career growth/advancement for greater work-life balance will forfeit higher pay or career growth advancement for a more flexible work schedule 33% will forfeit higher pay or career growth advancement for the opportunity to start their own business /15
  16. 16. Notably, female manufacturing workers place greater emphasis on job stress and major life-changing events than their male counterparts. “With other options out there, I won’t stay in a stressful job.” Female manufacturing workers identified these as factors most likely to cause them to leave their organization or change jobs/careers: 30% 30% Stress Major life-changing event 26% Current management /16
  17. 17. An Equal Opportunity Employer © 2015 Kelly Services, Inc. 15-0010 Conclusion As in every industry, employers in manufacturing need to continually be prepared for changes in their workforce as their employees—both females and males—frequently explore alternatives. These sudden moves can create precarious and unexpected challenges for employers. While the key to preventing your talented workforce from fleeing may lie in some of the workplace improvements covered in this research, strategic workforce planning is the best solution: anticipate workforce changes, and stay ahead of shortages by proactively building a prospective employee network. For information on how Kelly can help, contact us today. EXIT kellyservices.us

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