Improving retention in manufacturing is a multi-faceted, ongoing effort that can help manufacturers keep skilled, valuable employees, leading to greater efficiency and lower costs. According to Gallup, replacing one employee can cost up to two times their salary, quickly escalating as turnover increases. In this episode of the First Business Bank Podcast, we are joined by Elizabeth Aldana, Service Line Leader/Senior Consultant for Operational Excellence from WMEP Manufacturing Solutions for a discussion with far-reaching implications for manufacturers as they look for strategies to keep more employees in this competitive job market.
The discussion in this episode covers:
- Improving the onboarding experience in manufacturing by implementing best practices
- Formalizing manufacturing employee development to upskill and motivate your workforce
- Strategies to engage employees to improve productivity, retention, and culture
- Clearly communicating organized expectations on an ongoing basis
- Establishing a performance management framework
Workforce challenges in manufacturing have only increased in recent years, so it’s important to plan and execute strategies that improve employee retention. We thank WMEP Manufacturing Solutions for contributing their expertise to our manufacturing podcast series. Check out the rest of our podcasts and resources for manufacturers.