Motivation as a Possible Solution for Turnover
In the manufacturing industry, it is incredibly easy for a stellar employee to quickly lose motivation simply because they are completing the same job duties in repetition each day. Since this can quickly lead to turnover, businesses should constantly be implementing counseling, socialization, incentive programs, and recognition programs to ensure motivation remains at an all-time high. But how can this be maintained in challenging industries?
Successful managers are often those that ensure projects remain successful. Often, top performers will have a significant impact on project health – making it imperative to ensure that the turnover of these groups remains as low as possible. Without the right frameworks in place, businesses will continue to lose top talent due to drops in motivation and will constantly need to retrain and grow their workforce.
How Can Motivational Programs Reduce Turnover?
During peak phases, each employee needs to provide the level of service necessary to ensure that project health remains high. Any time motivational drops occur, this will simultaneously impact the project's overall health. Stressful relationships, conflictual situations, monotony, and much more can all quickly impact motivation – making it extremely important to counteract these facets of the organization whenever possible.
When a problem is seen that could be dragging down company morale or encouraging turnover, motivational techniques should immediately be implemented. Before it gets to this point, however, business owners need to understand how their employees want to be motivated and which approaches they respond the best too. For instance, are they financially motivated, or do they want recognition for the level of service they are providing?
Setting smart goals is often one of the easiest ways to inspire and motivate your staff. Focusing on large tasks or projects as a whole can often be seen as overwhelming. On the other hand, if a project is broken down into smaller goals, employees will fully understand the project tasks and give them a roadmap to realizing the ultimate goal. It is also essential to ensure that each employee understands how important they are in these processes during this period.
When employees see that management is trying to create a positive work environment, they are more likely to focus on the quality of work they are achieving subconsciously. Looking at Maslow's Hierarchy of Needs and aligning it with your employees' core values and hopes will help improve motivation and show that you are invested in their success and well-being both at work and at home.
Creating a company culture that is inspiring and uplifting will also improve motivation and reduce turnover. According to a recent study, 26% of employees said they dread going to work simply because the culture is toxic. Fixing these aspects within your workforce will help ensure that everyone feels valued and wants to contribute to the overall goals set by management. The better news is that these benefits will expand far beyond simple turnover reduction and will continue to impact other aspects of the organization positively.
Exploring Risk Management Solutions as a Possible Solution for High Turnover
In the current competitive manufacturing landscape, businesses that fail to control their turnover are also unable to change how their company operates fundamentally. This could mean decreased productivity, low morale, and high overtime wages. Even worse, the revolving door of new hires can directly affect the level of expertise available sitewide. Though some turnover will be unavoidable, mitigating what you can with risk management solutions is crucial for the best outcomes.
Unwanted turnover can be expensive for a manufacturer. But without a thorough understanding of why turnover is occurring and an action plan to reduce the risks of turnover, most companies will continue to repeat the same cycle until they cannot meet headcounts. But what does a risk management solution for reducing turnover entail? And how can a business ensure that the risk management solutions they choose will deliver on the metrics they are focusing on?
How Can Risk Management Solutions Reduce High Turnover?
At a base level, risk management is considered the process of identifying, analyzing, and mitigating uncertainty. There are various tactics that modern manufacturers can use to identify risks both internally and externally that might lead to employee turnover. This could be something as simple as a minor flaw in the company culture, to base behaviors found in approved candidates that potentially are not suitable for the work environment in place. For this reason, it often takes some investigative work on behalf of management and the human resources department to determine these risks.
Although the key performance indicators for turnover rates can vary widely based on geography, industry, and role, a recent study from Mercer found that the average annual US turnover is 20%. Of that twenty percent, around two-thirds were voluntary. The manufacturing industry tends to have an excellent average – sitting at approximately 15% - a number that all manufacturing facilities should strive to meet or subceed. Without the proper attention to risk management within a retention strategy, the manufacturer will achieve a turnover rate that is higher than average.
One of the best steps to decrease turnover is implementing risk management solutions like pre-employment background and experience checks. By analyzing this data, a hiring team can accurately determine how long they will stay with the company and potential resume-based issues that could present a problem. Effectively, turnover risks will be calculated and decided before an interview is scheduled. Businesses are more likely to find the right talent, work ethic, and commitment required for long-term success by factoring this in.
As a performance-based staffing agency, our approach to risk management solutions is to provide variation for team members. This limits potential burn-out and gives employees a pathway to keep growing within the same company instead of looking for external options. While this will not eliminate all the turnover a manufacturer is experiencing, it should help drastically cut turnover rates. If you are interested in learning more about performance-based staffing as a potential risk management solution for turnover, contact us or find your nearest location to get started.