Tague Women-in-Manuf - Paper

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building their own corporate ladder Women in manufacturing— a critical talent pool—share their career decision insights with Kelly ®

Transcript of Tague Women-in-Manuf - Paper

building their own corporate ladderWomen in manufacturing— a critical talent pool—share their career decision insights with Kelly®

An existing shortage of skilled talent in manufacturing has created uncertainty when it comes to the future supply.

Could women be the key to overcoming this talent gap?

Despite comprising nearly half of the

U.S. labor force, women continue to be

significantly underrepresented in the

manufacturing industry—but it seems the

solution doesn’t lie in hiring women, but in

retaining them.

First, let’s take a look at the overall industry factors that affect everyone in manufacturing.

OVERVIEW /02

/03

Turnover rates within the manufacturing industry are significant

23%in 20131

80%

While this may seem like good news to the

hiring manager who wants an expanding talent

pool of workers—perhaps by luring them away

from competitors—this same hiring manager

may just as easily lose their new talent to

another company. Retention is difficult across

the board—especially for companies that do

not implement the changes desired by today’s

manufacturing talent.

80 percent of manufacturing employers say they

have moderate to severe shortages of skilled and

highly skilled talent2

And while the numbers

for employee turnover in

manufacturing haven’t changed

in the past few years, the reasons

have. Performance issues and

layoffs, past factors for turnover

in manufacturing, are being

replaced by voluntary quitting.

More and more, employees are

making the conscious, voluntary

decision to leave their employer

rather than being forced out:

9.8%in 2010

10.9%in 2012

10.7%in 2011

11.1%in 2013

SKILLED TALENT

HIGHLY SKILLED TALENT

Associate degree or experience equivalent

Bachelor’s degree or experience equivalent

1 per BLS2 Accenture 2014 Manufacturing Skills and Training Study

An aging workforce—accelerated!

Shortages and challenges are magnified

due to an aging workforce—as a whole,

manufacturing talent is nearly 10 percent

closer to retiring than talent in all other

U.S. industries.

Over the age of 45:

51% of all U.S. manufacturing talent

42% of workers across all industries

RE

TIR

EM

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The bottom line

The inability to find skilled manufacturing workers negatively impacts the bottom line. When the necessity to pay overtime wages goes up, quality, productivity, and efficiency take a hit.

When overtime goes up, quality, productivity, and efficiency go down.

Overtime Quality Productivity Efficiency

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Women as the solution

Women could fill the skilled talent gap in manufacturing—but understanding employee preferences of this demographic, and ensuring their contentment, is more important than ever.

What women in manufacturing want, what they don’t want, and what would make them stay with their current employer is no longer a secret. This critical talent pool has spoken loud and clear to Kelly. And it’s the companies that will listen—the ones that invest in their female workforce and implement changes—that will capture their loyalty, and possibly avoid the unexpected talent shortages that could hamper their business goals.

The top three factors that

influence the decision of

female manufacturing workers

to remain with an employer

mirror those that initially drew

them in:

56%

42%

Salary and benefits

Opportunities for advancement

33% Work-life balance

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Focusing on what’s important

While 2014 data shows signs of disengagement, women in manufacturing are choosing to focus on what’s important to them when making employment decisions.

In manufacturing, women are:

• Closely scrutinizing their employer’s offerings

• Taking a closer look at what lies ahead in their career

• Placing greater importance on expanding their skills

• Redefining their corporate ladder

OVERVIEW

Women are seeking employers

in manufacturing willing to

offer professional growth and

work-life balance—but will they

find these employers?

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15,600+12,250+9,300+

Insights

For the Kelly Global Workforce Index™ we surveyed:

About the Kelly Global Workforce Index (KGWI) report

The annual KGWI brings together

work and workplace insights sourced

from more than 230,000 respondents

from 31 countries across the

Americas, EMEA, and APAC regions.

It takes the form of an annual survey

that canvasses a wide spectrum of

opinions on issues impacting the

contemporary workplace, with a

particular focus on the perspectives

from different generations, industries,

occupations, and skill sets. Topics

covered include:

• Career development and upskilling

• Workplace performance

• Employee engagement and retention

• Social media and technology

global manufacturing-related industry workers

in the Americas

in the U.S.

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What follows is what women in manufacturing told us.

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Disengagement:Women in manufacturing showed signs of disengagement in 2014. This could be good news for hiring managers who are looking to fill their talent gap by hiring women away from their current organization—but very bad news for the hiring managers who want to hold onto key employees.

How easily can your female employees be lured away?

In manufacturing, one out

of three female workers

frequently thinks about what

lies ahead for them in the

job market. They give strong

consideration to quitting their

job and leaving their employer.

“ My current employer isn’t investing in my career— will another company?”

33%

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Even happily employed female manufacturing workers are looking for new opportunities on a regular basis, and they are using social media to build their personal brand.

Among the female manufacturing workers actively looking for “better” job opportunities and alternatives to their current job—even when happy in their job—36 percent do so on a daily basis.

When it comes to a job, happiness does not always equal loyalty or engagement.

Similar to male workers (40%),

nearly four in 10 female

manufacturing workers

actively look for better job

opportunities or evaluate the

external job market even when

happy in their job.

“ I like my job, but I’m always open to a better opportunity.”

38%

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When it comes to work, perhaps money isn’t everything—and neither is climbing the corporate ladder. Most female manufacturing workers would prefer that their employer offer opportunities to expand their skill sets—perhaps in preparation for future advancement, or as a means to greater personal fulfillment.

Women in manufacturing are willing to make some trade-offs for professional growth and personal fulfillment.

And when their workers gain broader skill sets and develop the ability for greater work contributions, employers are beneficiaries.

“ I want to define my own corporate ladder.”

Most female manufacturing

workers would prefer

that their employer offer

opportunities to expand

their skill sets.

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While there’s no mistaking that pay is the main driver of attraction and retention, workers—both female and male—also prioritize their professional growth and personal fulfillment. Resoundingly, many workers would be willing to trade higher pay and/or career growth or advancement to learn new job skills and achieve a greater work-life balance.

“ Learning new skills is very high on my list.”

Upskilling

57%

62%

Sensing that skill development is a “golden ticket” to a better future, more than half of the women in manufacturing are likely to give up higher pay and/or career growth or advancement for an opportunity to learn new skills

More than six in 10 women in manufacturing view upskilling as a short-term career goal

38% Less than four in 10 would rather advance to a higher level than gain new skill sets

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“ Let me spell out exactly what I want.”

1 | Salary and benefits

2 | Advancement opportunities

3 | Work-life balance

When weighing their employment

options, female manufacturing

workers give greater weight to

nearly all factors measured than

their male counterparts.

87% vs. 84% | Salary/benefits; incentives

71% vs. 65% | Advancement opportunities

66% vs. 61% | Work-life balance options

62% vs. 58% | Training/development options

51% vs. 45% | Knowledgeable colleagues

49% vs. 38% | Flexible work arrangements

48% vs. 37% | Environmental responsibility

35% vs. 27% | Diversity/equal opportunities

30% vs. 27% | Sense of meaning from work

25% vs. 20% | Unexpected perks (on-site gym?)

19% vs. 16% | Corporate sovereignty/goodwill

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Female workers are extremely open to flexible employment options. Will this be the defining perk between those who retain and those who lose skilled talent?

Offering female candidates more money and better benefits than competing positions will certainly influence their employment decisions. Beyond compensation, other key factors play an important role in the decision to choose one employer over another—including flexible employment options. Achieving a greater work-life balance is increasingly important to female manufacturing workers.

“ Other employers offer flexibility and balance. When will my industry catch up?”

Of the female manufacturing

workers we surveyed:

49%

35%

are likely to forfeit higher pay or career growth/advancement for greater work-life balance

will forfeit higher pay or career growth advancement for a more flexible work schedule

33%will forfeit higher pay or career growth advancement for the opportunity to start their own business

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Notably, female manufacturing workers place greater emphasis on job stress and major life-changing events than their male counterparts.

“ With other options out there, I won’t stay in a stressful job.”

Female manufacturing workers

identified these as factors most

likely to cause them to leave

their organization or change

jobs/careers:

30%

30%

Stress

Major life-changing event

26% Current management

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An Equal Opportunity Employer © 2015 Kelly Services, Inc. 15-0010

ConclusionAs in every industry, employers in manufacturing need to continually be prepared for changes in

their workforce as their employees—both females and males—frequently explore alternatives.

These sudden moves can create precarious and unexpected challenges for employers.

While the key to preventing your talented workforce from fleeing may lie in some of the

workplace improvements covered in this research, strategic workforce planning is the best

solution: anticipate workforce changes, and stay ahead of shortages by proactively building a

prospective employee network.

For information on how Kelly can help, contact us today.

EXITkellyservices.us