In July 2018 alone, more than 209,000 employees quit their manufacturing jobs in the United States. Employee turnover is something all industries face; however, according to the Bureau of Labor Statistics, the manufacturing industry experiences the second highest turnover rates behind only the trade industry.
When employees quit, it’s costly to the company. Decreasing employee turnover in manufacturing breaks the negative cycle of spending more time and money on training a new employee while improving employee morale throughout the company.
How to Reduce Employee Turnover in Manufacturing With 5 Strategies
A new study released by Office Team indicates 66% percent of employees who leave companies do so because they do not feel valued or appreciated. Given this, addressing employee turnover requires companies to examine how they recognizing value from their employees. Below are five strategies management can use to see a positive change.
1. Offer Attractive Benefits
Offering employees a comprehensive benefits package including attractive health insurance, disability insurance, and early discomfort management services. Research suggests that employees are placing more value on benefits than in years past.
2. Provide an Opportunity for Employees to Share their Knowledge
Recent Gallop poll research indicates employees feel most valued when they have the opportunity to share their expertise in training sessions and presentations, by mentoring others, and leading team assignments. Training others also provides opportunity for employees to enhance their own learning.
3. Be Proactive in Addressing Job-Related Risks
Employees who feel their company values them as more than employees are less likely to leave. One way progressive companies are how they value employees is by offering comprehensive wellness programs which include injury prevention and risk-reduction services. With a comprehensive Industrial Sports Medicine program, companies offer employees onsite early discomfort management and risk-reduction strategies.
4. Involve Employees in Decision Making
Asking employees for feedback when it comes to decisions that affect their jobs makes them feel more invested in their positions and, in turn, the company. This involvement creates a sense of ownership and pride in the employee.
5. Understand Why People Leave the Company
It is important that, when people do choose to leave, the company asks the employees to share what they do or do not like about their jobs and the company. It is not enough to simply learn why employees are leaving. Management should evaluate the reasons being provided and see if changes should be made to existing company policies or procedures.
Research indicates turnover costs account for between 5 and 10 percent of total wage costs. Reducing employee turnover directly impacts a company’s bottom line. To learn more about how Briotix Health can help decrease employee turnover with our comprehensive Industrial Sports Medicine solution, contact us today.