IS IT GAME OVER?
According to some, there are worrying times ahead for manufacturers within the UK. Research by HR Consultancy Zellis has uncovered that 44% of UK and Ireland Manufacturing employees plan to move on from their current positions in the next two years.
Employee turnover is a natural aspect of every industry of course. Yet as manufacturing in the UK and Ireland looks to keep up with global competition, employee retention should be an absolute priority in response to both labour shortages and the impact of Brexit over the past few years.
This issue has been even further exposed within the food and beverage manufacturing sector, with up to 55% of survey responders saying they would be looking to resign within two years. A recent independent review by John Shropshire highlighted huge obstacles in recruiting, retaining and developing a competent workforce in the sector – especially with Brexit contributing to reduced access to migrant workers.
So, what can be done to stop the haemorrhage of experienced staff?
Well, Zellis’ report highlighted some key statistics that your organisation can take, right now, to help secure employee retention throughout this turbulent time:
Offer Competitive Pay and Benefits:
It may seem obvious but across general manufacturing, it was found that over 42% of respondents said they would move to a different company to avoid inadequate pay and benefits. If your organisation has the capability to increase pay, not only for your top performers but also those who keep things ticking along, you’ll thrive. And NOW is the time to act on this – before your competitors realise the secret!
If you are struggling to know what your pay scales should be, please reach out to us here at the Liberty Recruitment Group. Working out what constitutes a competitive rate of pay is a simple and easy task for us, with our network and database to benchmark a wide range of salaried roles. So now you know how you can keep ahead of the curve!
Invest In Your Staff:
More than two thirds of the survey responders suggested that training and development were very important to them – yet only 35% of them said they were currently receiving the level of training and development they wanted.
With this in mind, and the fact that the CIPD reported that every £1 invested in training and development can yield £3.40 in return, manufacturers need to be assessing the training needs of their employee and aligning them with the organisation’s key objectives.
The staff here at the Liberty Recruitment Group are all specialists within our respective divisions; Commercial, HR and Accountancy/Finance – so if you ever need advice on what training or qualifications to offer your staff, as part of their personal and professional development plans, we should be able to provide some targeted insight!
So, there you have it – two simple, yet really underutilised, strategies to help retain your staff. Of course, these are not limited to the manufacturing industry, but just more essential than ever before in the landscape we now inhabit. And remember, it doesn’t need to be ‘Game Over’.
Do you have any further suggestions on what the manufacturing industry can do to help with staff retention? Please feel free to reach out to one of the Liberty Recruitment Group team!
Lewis Jaffa (August 2023)
