How Can Industrial Employers Retain Their Best People?

We’ve all heard the stories and seen the features on social media. Free gourmet food in the company cafeteria. Laundry and dry cleaning services on site. Professional massage therapists available for sessions in the middle of the workday.

For years, Silicon Valley companies like Google and Facebook have provided benefits to their employees that were previously unprecedented in the modern workplace. Why do they do it? In their industry finding great employees is difficult. But, when hiring is done right, it is extremely valuable to the growth of their businesses.Sound familiar?

We have also all seen the data on America’s industrial skilled labor shortage. Industrial employers in manufacturing, transportation, construction, trades services and other sub-industries are struggling to find great talent: unemployment is low and service sector jobs are luring candidates away. Job openings in industrial sectors are on the rise, with rates exceeding even those before the Great Recession, but national quit levels are on the rise, too, in key industrial sectors such as manufacturing. With all these forces at work, industrial companies will surely face major competition for top talent in the months and years ahead.

Odds are your company doesn’t have the margins to keep a masseuse on staff. But that doesn’t mean it shouldn’t offer competitive and thoughtful programs and benefits that attract and keep standout employees. There are steps that employers are now taking that fit their business models and company cultures and can make the same impact.

And it does not have to be painful. Here are just a few initiatives that industrial companies can implement to attract and retain the highest quality employees:

• Ongoing training and tuition reimbursements – This is a big one. While the industrial sector has opportunities to expand, there are many doubts about ongoing productivity gains for sectors like manufacturing in the next decade. The way to clear the productivity hurdle will be optimizing training and retraining. Time to ask yourself: are you empowering employees at all levels to excel at your company – even if they aren’t experts? How could ongoing training opportunities keep your employees on their personal growth paths?
• Flexible hours – Many employees struggle to balance the requirements of their work schedules with their personal lives: taking kids to school, completing classes, coordinating with a spouse’s schedule, etc. Most companies, however, need to maintain fixed operating hours. Have you considered if employees could flex their hours? It might go a long way in attracting new talent.
• Financial education – Employees want to protect their money just as much as you do. Life/work stability can largely depend on an employee’s ability to manage financial challenges. Are you offering your employees the tools to save their money wisely? If they feel they can plan for their future – and their family’s future – they will be less likely to seek new employment.

Just like Silicon Valley companies develop reputations for having incredible benefits, allow your company to develop a reputation in your community through practical retention programs and benefits.

Want more tips like this? Read more of Xemplar’s employer articles by clicking here.

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