The Key to Unlocking Profits through
Employee Engagement and Retention
According to the U.S Chamber of Commerce, there were 693,000 open manufacturing jobs as of March 2023. The sourcing and retention of talent is impacting manufacturers already trying to manage demand, continued supply chain issues and rising costs.
Manufacturers that make improvements to the employee experience will not only be better positioned to attract and retain employees, but also can drive quality output and profit generation. Specifically, research conducted by Gallup has found that employee engagement among top- and bottom-quartile business units 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.
In the face of these ongoing challenges, how can your organization’s technology contribute to your employee experience?
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 can gain data visibility across the organization to identify trends, relationships and root causes that may be tied to the employee experience.
Vistage and technology advisor Net at Work joined forces to address this approach during the webinar, “Your Digital Operations Platform as a New Approach to Workforce and Operational Success.” Experts in Human Capital Management (HCM) and Enterprise Resource Planning (ERP) discussed areas manufacturing executives should be working with their teams before taking on a DOP to properly support the employee experience:
“HR Digital transformation is about how human resources can impact the business using digital technology,” said Harold Ford, Employee Experience practice director at Net at Work. “We need to first identify, how can we improve HR processes, employee workflows, and business outcomes? How can HR provide better optics into workforce data to make business decisions?”
Solutions Engineer Dev Rawat expanded upon the employee experience from an operations and productions standpoint. “When it comes to your most important asset, your workforce, safety should always come first,” explained Rawat. “But how much are you able to tie together safety incidents to the employee record to establish trends and make predictions? For example, are you noticing safety incidents on a Monday morning after a football game? Do you know the exact percentage that a newer hire is likely to be involved in a safety incident? Once you’ve started capturing that, what then can you change about your training program to chip away at the probability?”
Access this on-demand webinar today for more of these valuable insights to help you build the solid technology foundation to take on employee engagement and retention to unlock greater efficiency, productivity and profitability.