With worker exits and talent competition on the rise in US manufacturing, retention is the key to a stable workforce. And a strong, skilled workforce is how small and mid-sized manufacturers (SMMs) get the most from their processes and technology, and stay competitive in uncertain times.
Workers are now clear about why they stay with employers. Trustworthy leadership and visible career pathways are critical, not wages alone. Workers today want chances to contribute and improve, and they prioritize both learning and advancement opportunities. For SMMs struggling to attract younger workers, these offerings are essential.
As Illinois sees a boom in advanced manufacturing, competition for workers is only increasing. Focusing on retention is the fastest and most cost-effective talent strategy SMMs have. Retaining your existing workforce can also reduce waste and defects and increase productivity, not to mention encouraging safer environments and improving results from other efficiency drivers. Starting at grassroots level turns entry-level candidates into multi-skilled workers, and ultimately, pushes skilled staff into the roles hardest to fill with external hires.
In this executive brief, IMEC explores how SMMs can put clear role progression and internal mobility to use to stabilize their operations and accelerate innovation.
