Retaining existing talent is a top manufacturing business challenge, according to Deloitte’s 2023 Manufacturing Industry Outlook. This top-of-mind workforce challenge – exacerbated, Deloitte’s study says, by the fact that employees leaving by choice outnumber layoffs and terminations – reduces operational efficiency and profit margin.
Manufacturers that make improvements to employee experience, however, will drive quality output and profit generation. Specifically, Gallup found that employee engagement among top- and bottom-quartile business unit and teams represented a 64% difference in safety incidents, a 41% difference in quality and an 18% variance in productivity – all areas that directly tie to profits.
The Key to Unlocking Profits
The key to unlocking profits through employee engagement and retention is best-of-breed, next-generation systems integration, a concept Forrester Research calls a digital operations platform (DOP). Through DOP, manufacturers gain data visibility across the organization to identify trends, relationships and root causes that may be tied to the employee experience.
Learn how the design and execution of DOP for your environment can help build a solid technology foundation to take on your most pressing workforce challenges, while positively impacting operational and profitability goals, by joining technology advisor Net at Work and Vistage for this on-demand webinar, “Your Digital Operations Platform as a New Approach to Workforce and Operational Success.”