Save Your Company From the Record-High Quit Rate. 74% of employees are experiencing at least some burnout on the job — but increased paychecks aren’t the long-term solution.
Learn how employers can minimize burnout in the workplace and save their best employees.
Nearly half of U.S. workers are watching or hunting for job opportunities. What’s even more staggering is that 52% of exiting employees said their manager or organization could have done something to prevent them from leaving.
OSHA reveals the biggest danger areas in workplaces as reflected in the number of citations.
The factory of the future will demand a whole new combination of skills. The fact that digital transformation and Industry 4.0 are changing manufacturing operations is no secret, nor is the fact that skilled manufacturing talent is increasingly harder to come by. With Deloitte research projecting that 2.4 million manufacturing jobs will be unfilled by 2028, the question becomes: What talent and skills do manufacturers need in order to succeed in the factory of the future?
The US Government’s commitment to manufacturing is expressed in the several program designed to encourage growth and development of the economic sector. It’s good to know what’s available.
The average turnover is 40% a year, but 5% of companies have rates at or below 15%.Managers often cite pay as the leading reason for employee-leaving. It is not. The costs of staff turnover at 40% levels is not just financial. Indirect costs are significant in high staff turnover environments; working staff are disrupted and disappointed, with possible effects on morale, safety and quality. Without quantifying these “costs,” we cannot adequately fix them.
Knowing which products are selling below their variable cost is critical to improving profitability. But there may be a strategic reason to continue selling the unprofitable products. The key is to know the “why” and make informed decisions to ensure the loss leaders aren’t loss bleeders.
We lose money on every sale but we make up for it in volume” is an old and tired manufacturing joke. And it is no laughing matter if it is your company. Knowing your variable costs and gross margin is necessary, but not sufficient. Knowing your gross profit by SKU is a key to uncovering hidden profits within your business.
Is $1,000 a lot of money? The answer depends on the context. To a 5 year old, it is a king’s ransom. To a $50m manufacturer, it’s 3 minutes worth of revenue. The context matters. In this month’s video, we introduce a variable cost line to our scatter plot chart to add context to our analysis of product and customer profitability. Not all revenue is good revenue. Let the data lead you to the hidden opportunities to improve your profitability.
Managing strictly from a spreadsheet or a P&L statement is SOOO 20th century. This month’s video shows that data visualization is easier than you think and makes the consumption and digestion of your company’s performance more intuitive. Let the data lead you to the hidden opportunities to improve your profitability.
What’s your number? This is not a cheesy pick-up line or an inquiry about your Sleep Number bed setting. It is a serious question. The number we are referring to is gross margin. Margin erosion is a silent killer. It is an insidious ailment that, on the surface, doesn’t seem like a big deal. After …
DATE: November 16, 2021 TIME: 8-10 AM For More Information go Here Register Now for this free Zoom Meeting by emailing your name & company to: [email protected]
Establishing your performance measurement process with all three types of asset management performance metrics play an important role in monitoring risks to the business.
The cost of unplanned downtime was approximately $250,000 per hour, at an average of more than $2 million per downtime The cost of downtime can be incredibly high for any manufacturer, especially since downtime is the Number 1 reason for loss of production, resulting in factories losing up to 20% in total productivity. Downtime results in …
Understanding and monitoring the key manufacturing finance concepts can help you better align cash outflow for capital expenditures with production, increasing efficiency and improving your bottom line.
The IRS is planning to push back the deadline for filing tax returns by about one month, originally thought to be May 15, from the usual April 15, CNBC confirmed. But because May 15 falls on a Saturday, the final deadline for filers is likely to be the following Monday, May 17.
The Consolidated Appropriations Act of 2021 (CAA), signed into law on December 27, 2020, significantly enhanced and extended the Employee Retention Credit (ERC), providing further federal financial relief to businesses impacted by the pandemic. by MAP Sponsor: Stephano Slack, Accountants and Advisors
Date: Wednesday, April 22, 2021 Time: 12:00 p.m. EDT Duration: 1 Hour Event Type: Live Webinar Cost: Free Register Today! Description: Technological advances such as automation, the availability of real-time performance data, and the rapid shift to hybrid virtual working models during the pandemic—which many manufacturers will continue even after the pandemic ends—has challenged leaders to rethink operational workflows and …
In an unprecedented time, millennials have managed to survive and thrive, thanks to possessing traits that will help them succeed as leaders and even entrepreneurs.
No matter the size of your business, it’s crucial that you consistently hire reliable and motivated employees to build a strong team. But, even after you bring on solid candidates, the work isn’t over. Retaining your most valued employees, both new and old, is integral to running a successful business.
Did you know that people trust their employers more than governments or the media?
Manufacturing BPM teams are constrained by business silos, ad hoc and reactive means to managing processes performance, and lack of standardized criteria, according to an APQC survey. However, they also exhibit high maturity practices in many key areas.
OSHA is conducting a COVID-19 national emphasis program focused on high-risk industries and employers that retaliate against employees who complain about workplace hazards.
OSHA regulations keep your employees safe, but it can be difficult to remember exactly when they apply and when there are exceptions. Employers must ensure they’re complying properly with requirements in all situations, such as OSHA’s lockout/tagout regulation.
The oil and gas industry’s top lobbying group on Thursday endorsed a federal price on carbon dioxide emissions that contribute to global warming, a reversal of longstanding policy that comes as the Biden administration has pledged dramatic steps to address climate change.
Arguments in favor of the move also cite benefits for the overall economy.
Interconnectedness through Industry 4.0 gives manufacturers an edge in two key areas.
3D printing’s virtual inventories and on-demand manufacturing offer cost-savings and increased flexibility, but there are risks.
Kerfoot Group — a supplier of natural and organic plant-based food oils — shares insight into trends set to influence brands through the rest of the year.
The US Department of Labor has proposed an 18-month delay for a final rule published in January 2021 on calculating the prevailing wages of some immigrants and non-immigrant workers.
Harrisburg and the Budget It remains unclear whether department heads are keeping information from the General Assembly or if they are simply unprepared for what lawmakers view as the most important hearings of the legislative calendar.
Is the lack of cooperation among America’s leaders widening a U.S. progress gap?
When: March 25, 2020 8 – 10am Where: This Will Be A Virtual Meeting on Zoom In so many ways we are in uncharted waters for human resources and so much has changed, new rules and regulations. HR professionals are facing more challenges than at any other time in history. A global health crisis, layoffs, …
Labor & Employment The change in administrations has released a flood of protestors, some of whom have engaged in violent acts while at the same time creating potential COVID-19 “super-spreader” events in the workplace. How should—and could—you, as an employer, handle employees who have participated in these rallies? Jason Reisman, 215.569.5598, [email protected] a member of …
Toward a deeper understanding of finance’s role in informing, advising and running a manufacturing business, along with a comprehensive assessment of globalization’s root causes and effects.
Odds are your future leaders already work for your organization. To find them, design an effective, science-backed strategy that fosters a diverse and full pipeline, identifies potential early, and develops leadership readiness. Discover four predictors of performance to consider when identifying future leaders.
On this episode of the podcast, Editor Sydny Shepard takes a deep dive into how this new administration could alter workplace safety. Topics covered include OSHA leadership, increased regulations and enforcement and a possible OSHA Emergency Temporary Standard for COVID-19.
DATE: March 3, 2021TIME: 2:00PM ET The new year has brought in a new administration and with that potential new changes on how OSHA will inspect your worksites. Join former head of OSHA, and current Fisher Phillips Partner Ed Foulke and former president of ASSP, and current Avetta Strategic Advisor Tom Cecich as they discuss …
OSHA Inspections 2021: Tips from a Former OSHA Head Read More »
The use of temporary workers, contractors, consultants, and freelancers dealing with furloughs and layoffs could help boost the manufacturing workforce.
Many think the research tax credit does not apply because they don’t conduct research in a traditional sense, but it can actually be applied for many daily activities.
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