What sets apart a successful business from a less successful business? Several possibilities may come to mind, but the heart of any business is the employees. Whether it’s working on the production floor or overseeing heavy machinery, these employees help ensure day-to-day operations run smoothly. Not only is it important to have employees you can trust, but retaining those employees is a key factor. As mentioned in our last blog, Top Employee Retention Strategies: Keeping Your Employees Engaged and Productive, there are many ways to ensure employee success.
Not only is retaining employees an obstacle faced by the manufacturing industry, but the hiring process in itself can present difficulties. With over 80 years of combined experience, our team is composed of seasoned staffing industry experts. We understand the complexities of a wide range of manufacturing industries, ensuring that our solutions are tailored to meet the needs of each partner we work with.
What is the #1 Problem the Manufacturing Industry Faces?
As mentioned earlier, employees are the heart of the manufacturing industry. As demand continues to increase, the manufacturing industry has also seen an increase in employee turnover rates as they have grown from 30.6% in 2017 to 39.9% in 2023. Therefore, labor shortages are a pressing concern because they can halt production, decrease revenue, and slow business growth. Over the long term, this increase can slow economic growth and industrial advancements. Shortages can also lead to overworked employees, causing burnout and affecting their overall well-being.
Addressing this issue is not only important to ensure the stability of the manufacturing industry, but it’s also critical for employee retention. From a wider lens, labor shortages are not just about solving a business problem but also about maintaining the health of the economy and the livelihoods of the workforce.
How Does KFI Staffing Fix This Problem?
When starting a new job, there are many external factors that can make the process intimidating. Whether it be relocating, learning the ropes of the new role, or transportation to and from work, these aspects add a layer of stress. According to Habitat for Humanity, one reason why manufacturers are struggling to retain employees is due to the struggle of finding affordable housing. Supporting employees within work hours is a non-negotiable, but how does supporting them outside of work enhance the quality of work they produce?
Recent studies show that 83% of workers who do not feel secure about their job are less likely to stay. At KFI Staffing, we go the extra mile by assisting employees with their housing and transportation needs, enabling them to feel secure and excel in their new roles. This added sense of security extends beyond the workplace to eliminate concerns about housing and transportation stability. KFI Staffing ensures your talent is set up for success by making sure your employees’ basic needs are met to enhance job security and foster a strong sense of job satisfaction.
Conclusion
The success of any business, particularly in the manufacturing industry, relies heavily on its workforce. The ability to source, retain, and support dedicated employees is critical to maintaining operations, driving revenue, and fostering long-term growth. Labor shortages in manufacturing can be detrimental to both induvial production and the economy. Not only do they halt production, but they also place excessive demands on existing employees. KFI Staffing recognizes these challenges and, with over eight decades of combined experience, offers innovative solutions that set us apart in the staffing industry. Our approach extends beyond placing individuals in roles; we address the personal needs of employees. Our commitment to going the extra mile ensures that employees are well-equipped for success, which, in turn, sets our clients up for long-term sustainability.
