It’s no secret that retaining employees today’s current job market has become increasingly difficult. This is especially true in the manufacturing industry, where turnover rates are high. In fact, voluntary turnover in manufacturing has reached almost 30 percent. So, to retain talent and maintain growth, manufacturing organizations must develop incentivized employee benefits strategies. But, what benefits do manufacturing employees want most? We tell you some of the most desirable benefits below.
What benefits do manufacturing employees want most?
Offering the right benefits to your manufacturing employees is one of the easiest and most affordable ways to boost your employee retention rates. If you feel like your business may be at risk of losing manufacturing employees— especially top performers—or you have already begun losing them to the Great Resignation, it’s probably time to consider some employee retention strategies. So, if you are looking for ways to boost your employee retention rates, here are five benefits manufacturing employees want most.
1. Competitive salary
One of the most important benefits that manufacturing employees want most is competitive salary. Moreover, if you want your employees to feel like their work is valued, then you need to offer a salary that reflects their sacrifice and hard work. You will not retain your employees effectively unless you pay them what their time is worth. Essentially, employees want to know that they are receiving a fair pay for their time and work. If they don’t, many are willing to leave their job for higher pay elsewhere. After all, they should be able to afford the cost of living where they live, their salaries should be regularly adjusted for rising inflation, and their pay should also reflect the level of experience they gain as their duties and responsibilities grows.Â
2. Comprehensive health benefits
Offering a comprehensive employee benefits plan is one of the best ways to bring in quality employees, retain existing employees, and boost overall morale and productivity on your shop floor. Healthcare costs continue to rise every year. So, it’s no wonder one of the most sought-after benefits that manufacturing employees want is employer-sponsored group health insurance for their medical, dental and vision needs.
3. Guaranteed job security
Guaranteed job security is another important consideration for employees in the manufacturing industry. There are many employees in lower-paying roles who often live paycheque to paycheque or have little to no education. There are also others who might just simply be underpaid. Therefore, having a role they feel secure in is important to them. In essence, when deciding whether or not they should stay at their current job, they want to know their employer can offer guaranteed work. If not, they’ll go elsewhere.
4. Positive work environment
Company culture is important in manufacturing too. Manufacturing employees spend the majority of their time at work. So, it makes sense why they’d want to work in an environment where they feel safe, comfortable, and accepted. After all, a toxic work environment is one of the most common reasons why employees leave their place of employment. By providing a positive work environment for manufacturing employees to work in, this encourages them to stay and work harder. Additionally, it can have a significant impact on the morale, motivation, and engagement of your manufacturing employees.
Some ways to create a positive work environment include encouraging open communication, recognizing and rewarding employees and their hard work, and fostering a sense of teamwork and collaboration. You can also provide manufacturing employees with opportunities for socialization. For example, host company events and team-building activities.
5. Opportunities for career advancements
Just like any employee, manufacturing employees want to feel like they have opportunities for advancement within the company as well. Therefore, making opportunities for career advancements one of the last, but certainly not the least, benefits that manufacturing employees want most. As employees gain new skills and become experts in their roles, they often look for opportunities to be promoted into senior or supervisory roles. Moreover, by offering these opportunities, not only is it beneficial for manufacturing employees, but also for your company. This is because your business can continue to build a team of experienced, dedicated talent. So, make sure your leaders and managers are creating careers plans for their employees to grow and develop through training, coaching, and mentorship.
