What You Need to Know: Virtual Manufacturing Innovation Summit March 18, 2021 Time Commitment: Half-Day…
Written by MEP National Network’s Linda Colon of CONNSTEP
In our competitive business climate, manufacturers are looking for ways to bolster future business by ensuring continuity of their company operations and retaining and developing talent. Industry expert Kelly McDaniel, president of the DeLisa Group, provided some insights.
Succession Planning- McDaniel emphasized the importance of examining a company’s current state and creating a future one for their business. A key process involves identifying vulnerabilities in a company’s organizational chart and developing an action plan to address potential job function gaps which may impact business operations.
This may include:
- Identify employees who anticipate retiring within the next few years;
- Look at employees with tribal knowledge (not easily transferable); and
- Review employee performance – promoting or terminating as needed. Doing so will impact business by creating position vacancies.
Attracting and Retaining Valuable Employees. She cited the tight labor market while emphasizing that candidates are looking for companies that have vision and can talk to their purpose and mission. It’s critical to be mindful that job seekers want to be part of an organization that is going somewhere.
Additionally, McDaniel highlighted the value of companies that have a good culture and work environment in order to attract – and keep – employees. She addressed the mindsets of various generations including baby boomers, Gen X, Gen Y and Gen Z candidates, who are beginning to enter the workforce and clarified their expectations in the workplace and how they differ from one another.
She stressed the importance of preparing the next level of employees for the shift of boomers exiting the workforce and as a means of addressing the inevitable skills gap. Prioritizing training among employees in order to preserve industry knowledge was a common theme as a means to continuing the momentum of success within organizations.
Adding these strategies to your overall recruitment and retention efforts makes for a stronger leadership team that helps you with decision making, role planning and fulfillment. Some additional insight to add to your strategy comes from Bonnie Spencer Swayze, President and CEO of Alliance Rubber Co. featured in this Industry Week article. She emphasizes teamwork and collaboration along with the need for flexibility to help drive home the importance of sharing the decision-making burden. She supports cross-training to address shifting roles within the company as employees rise through the ranks and also advocates creating a positive and helpful work environment in order to have employees feel more comfortable and confident in their roles.