Blog posts tagged with Talent Pipeline

Critical Components to Your Talent Attraction and Retention Strategy, Pt. 3

October 31, 2017 by Donna Rhodes

“The quality of an organization’s human resources is perhaps the leading indicator of its growth and sustainability. The attainment of a workplace with high-caliber employees starts with the selection of the right people for the right jobs.” Talent management is a business strategy that is reflective of an organization’s commitment to attract and retain the best talent throughout all levels of the organization. The potential impact on an organization can be huge when quality talent is aligned vs. misaligned with organizational need. A bad hire can cost a company as much as 5x’s that employee’s annual salary, depending on the type of job. “Zappos CEO, Tony Hsieh once estimated that his own bad hires have cost the company well over $100 million." Organizations with a high level of engagement report 21% higher profitability and 20% higher productivity (sales). A highly engaged employee has 40% fewer defects, 70% fewer safety incidents, 28% less waste, 41% less absenteeism, and 24% lower turnover in high-turnover organizations (Gallup). Gallup estimates 70 percent of employees are disengaged. A disengaged employee can cost an organization approximately $3.4K for every $10K in annual salary.3 Organizations with a culture of training and development show 13% stronger business results

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Critical Components to Your Talent Attraction and Retention Strategy, Part 2

October 26, 2017 by Donna Rhodes

In many cases, when one thinks of talent management, the focus is usually on leadership talent to ensure that the ‘right’ people are in place to ‘replace’ key leadership roles, which is also a component of your organization’s employee succession planning process. Talks of succession planning can also prompt owners of organizations to think about their legacy and the continuation of a business started many years before and grown out of hard work and many painstaking hours. Succession planning is also relevant to your workforce, in particular, where there are roles that are crucial to the organizations core business and unique processes. Your talent management systems and practices ensures successors are ready to step into key roles at all levels of the organization, when needed. Talent management is the process of identifying and preparing your highly skilled and talented leaders and workers to meet the organization’s business objectives. It is the process that ensures that the organization has the right talent acquisition plan and development approach to prepare its new and incumbent workers to fill each key role within your company as the need arises. It is also a critical consideration for jobs that require a unique set of skills

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Critical Components to Your Talent Attraction and Retention Strategy

October 23, 2017 by Donna Rhodes

Finding quality talent is challenging…retaining quality talent is equally challenging It goes without saying, that many manufacturers are challenged with attracting and retaining the ‘quality’ talent needed to execute its strategic objectives. Is this the case for your organization? Significant workforce factors that may be affecting organizations like yours include: Shifting workforce demographics (multiple generations in the workplace) Pending retirement of your highly skilled workforce (i.e. baby boomers) Shortfall of skilled leaders and workers needed to execute your organizations’ business goals Significant gaps in skill sets that are core to your business’ success MAGNET’s 2017 Northeast Ohio Manufacturing Survey, conducted in partnership with The Corporate University at Kent State University – Stark Campus cites additional concerns from our local manufacturers: 80% of the respondents find hiring qualified workers difficult to very difficult. A lack of required skills or educations was mentioned as one of the primary reasons by 39.5% of the respondents. 58% of respondents find attracting and retaining qualified workers to be a major issue. Manufacturers are also struggling with a rate of employee turnover ranging from 5% to 10% annually. Each of these factors have direct implications for how well your organization is position to execute its strategic

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4 Guaranteed Ways to Recruit Millennials for Manufacturing Jobs

February 13, 2017 by Michael O'Donnell

Standing at more than 80 million people, millennials are among the largest and most-studied generation to date. Studies, blogs, and other media have touched on their tech savviness and what seems like an innate ability to multitask… but not a high level of engagement in traditional jobs, especially in manufacturing. In fact, according to a 2015 Gallup poll, a mere 28 percent of individuals between the ages of 18 and 35 considered themselves engaged at work. This is due to a number of factors. The perception of manufacturing is often negative, associated with unsafe equipment and old-fashioned assembly lines like that of the early 20th century. This also contributes to the myth that employees are often stressed, overworked, and treated poorly in a factory setting. While businesses and community organizations are now taking the next steps toward quashing these misconceptions, your company may benefit by changing the way you approach young workers for prospective employment. The following are steps you can take toward getting a younger, more sustainable pipeline and attracting today’s young people to jobs in manufacturing: Create a clear and compelling picture of advanced manufacturing. Because most millennials are digital natives, technology is a cornerstone of their way

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MAGNET and partners create jobs, grow NEO manufacturing with national grant

January 06, 2017 by Liz Fox

MAGNET, Medina County Workforce Development, Team NEO, and WIRE-Net have announced the completion of a noteworthy grant-funded project that has helped regional companies improve their competitiveness, create and retain jobs, and bolster their presence in Northeast Ohio. The $1.8M, three-year grant, known as Make It in America (MIIA), was awarded to the four organizations by the U.S. Department of Commerce, the National Institute of Standards and Technology (NIST), the U.S. Department of Labor, and Delta Regional Authority. Aimed at encouraging businesses to expand domestic operations, the grant closely aligns with the mission of helping mid-size companies, particularly in biomedical, automotive, and advanced energy sectors that use innovative materials in their manufacturing processes. The project, which closed at the tail end of September, yielded very positive results for the region, including: $25M in new investments 68 new jobs created (exceeding initial goal of 50) Up-skilling of over 200 incumbent employees and 40 dislocated workers Additional training in CNC machining and welding that resulted in 24 workers finding full-time employment The team worked with a number of other partners to execute this program, including BioEnterprise, NASA Glenn Research Center, and the higher education institutions of University of Akron, Case Western Reserve University,

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Regional manufacturers grow more diverse with increase in female workers

January 03, 2017 by Liz Fox

The manufacturing sector has traditionally been regarded as a male-dominated industry, with women making up less than a third of the workforce. However, many companies are changing this trend by hiring them more frequently for skilled positions. Karin Simonson, an employee at Alloy Bellows and Precision Welding in Mayfield, quit teaching and went back to school in search of a career change. Seven years later, she says her job fares far better than those she held previously. “Here I feel like I’m more valued, like what I do is important,” she told WKYC in a recent interview. Click here to read the whole story on WKYC's website! MAGNET also partnered with the National Association of Manufacturers (NAM) and the Manufacturing Institute in November to hold STEP Forward, an event designed to celebrate women in the industry by sparking ideas and fostering a sense of community through networking. Check out our photos from the event in the gallery below! [Best_Wordpress_Gallery id="44" gal_title="STEP Forward"]

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