Addressing workforce challenges remains a top priority for manufacturers. In part one of this workforce series, we covered recruiting workers. This second post focuses on manufacturing workforce retention strategies.
Automation may help ease the workforce pressure on manufacturers, but it’s not enough right now. As 2021 came to a close, manufacturing lagged other industries in retention (see graph above).
If you’re looking for ways to improve your workforce situation, here’s what the experts are saying.
Service sector and retail jobs often pay better than manufacturing jobs and provide as good or better benefits. Even with rising manufacturing wages, some competing industries are raising pay faster.
As you know, price—or pay—alone makes for a vulnerable competitive position. Competitive pay is a necessary starting place, but it’s unlikely to be sufficient.
Experts recommend companies appoint leadership for DEI and other improvement initiatives. With dedicated leadership, changes happen faster and better.
The result of your company prioritizing manufacturing workforce retention strategies will be increased competitiveness and a stronger bottom line.
With over two decades of experience, Parin leads an expert demand-generation agency, StratMg, that helps industrial manufacturing clients achieve unambiguous and quantified organic sales growth across the US, EMEA & APAC.
Parin has built & positioned StratMg to be a value-added marketing services provider that strives to create a culture of quantified sales-driven marketing initiatives leading to sustained business growth through channel management, diversification, new customer acquisition and retention strategies and tactical execution.