By Mike Shew, Missouri Enterprise, Area Business Manager
One of the most significant issues facing Missouri manufacturing today is its workforce. We live in a global economy and many times it’s the effectiveness of our employees which provides our competitive advantage.
What happens in companies when the employee turnover rate is above the national norm of 10 percent? HR spends more time searching for talent and productivity is lost by the minute. When we, as troubleshooters, see a turnover rate above 50%, we look at executive coaching for the C-suite.
Executive coaching means working closely with the CEO, COO, CFO, Plant Manager and HR Department to accomplish the following key items concerning workforce dynamics:
- Ongoing leadership training and coaching with Sr. Management.
- Continual evaluation of Sr. Management's long-term employee buy-in and adaptation of certain key principles.
- Training and monitoring execution of basic HR elements including:
- Employee mentoring process
- Employee recognition program
- Employee evaluation process
- Advising in procedures involving delicate or complicated HR situations.
- Troubleshooting continuing employee culture, attitude, or morale issues.
Here are some important questions for you, as senior management.
- Are you ready to lead your workforce?
- Is your workforce ready to compete in the next generation and beyond?
- Are you leading a multi-generational workforce?
- Do you have the skilled workers you need to meet customer demands?
- Does your workforce primarily consist of new millennials?
- Does your workforce know how to consistently innovate to help grow your company?
- As company leaders do you stand around scratching your head for new solutions?
Executive coaching can help you achieve new heights in your leadership skills to help you develop business strategies which:
- Continuously improves to outperform your competition
- Continually trains your workforce for buy-in
- Partners with local government and/or educational institutions as appropriate
- Reduces turnover
- Prepares your workforce to learn and adapt to new technology
- Attracts top talent at all levels of the organization
Remember, everyone can learn new skills to benefit the company, and that includes the top-level management. The better they lead, the better the company, and the better for all.