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August 2017 #10217 Page #24
Wages and Productivity Wages and Productivity
Wages & Productivity
For many companies, properly staffing and retaining employees to meet their needs is a never-ending struggle. Let’s summarize what human resources gurus require years of training to understand and disseminate it to the masses for better results. Letmeet us start understanding some basic For many companies, properly staffing and retaining employees to theirbyneeds is a never-ending F truthsofabout productivity. If there is an struggle. Let’s summarize what human resources gurus require years training to understand and disseminate it
or many companies, properly staffing and retaining employees to meet their needs is a never-ending struggle. Let’s summarize what human resources gurus require years of training to understand and disseminate it to the masses for better results.
to the masses for better results.
inadequate output and/or quality issue, then the two leading factors are usually not enough Let us start by understanding basic truths about employees poorly skilled some employees. Letand/or us start by understanding some basic productivity. If there is an inadequate output and/or Some companies cannot attract enough new truths therefactors is an are usually not qualityabout issue,productivity. then the two If leading employees, or when they do, they haveemployees. poor inadequate output and/or and/orpoorly quality issue, then the Some enough employees skilled retention of employees, which both lead to an or when companies cannot attract enough new employees, two leading factors are usually not enough they do, they have poor employees, which both employee shortage. Asretention a result ofemployees. low employee employees and/or poorly skilledof lead to an employee shortage. As a result of low employee retention, a company’s is often poorly Some companies cannotstaff attract enough new retention, a company’s staff is often poorly trained or not trained or not enough, which leads to Industrial employees, or skilled when do,tothey have poor skilled enough, whichthey leads many mistakes. many mistakes. Industrial engineers are taught retention ofare employees, both lead to an take an engineers taught thatwhich most skilled positions average of three years of experience to reach full that most skilled positions take an average of potential. employee shortage. As a result of low employee Experienced workers not only produce more units three yearsa of experience to is reach full potential.per hour retention, company’s staff often poorly but also higher quality units with fewer mistakes. So, how Experienced workers not only produce more units per hour but also higher quality units with fewer trained or not skilled enough, whichmistakes. leads to So, can any company reach maximum output if it has a high how can any company reach maximum output if it has a high percentage of of new employees with little many mistakes. Industrial engineers are taught percentage new employees withvery very little experience? experience? The answer is simple: It cannot. If most companies retained their new hires, most would be fully that skilled positions takeIfan average of retained Themost answer is simple: It cannot. most companies their new hires, most would be fully staffed with long-term staffed with long-term employees within just three years. three years of experience to reach full potential. employees within just three years. Experienced workers not only produce more units per hour but also higher quality units with fewer mistakes. So, think money the number-one to retain employees; however, this with is a mistake. Many how can Some any company reachismaximum output way if it has a highgood percentage of new employees very little Some think money is the number-one to retain goodcompanies employees; however, thisasked is a mistake. Many human surveys human resources surveys the years have the same results; when aboutmost the most effective experience? The answer isover simple: Itway cannot. Ifshown most retained their new hires, would beresources fully overstaffed the years have shown the same results; when asked about the most effective motivation for keeping employees satisfied, motivation for keeping employees satisfied, survey results rank contributing factors as follows: with long-term employees within just three years. survey results rank contributing factors as follows:
6th. employees; Interesting work 1st. Appreciation ofiswork well done way to retain good Some think money the number-one however, this is a mistake. Many
Promotion and growth Beingsurveys part of over the discussions human 2nd. resources the years have shown the same7th. results; when asked about the most effective 3rd. Help with personal matters 8th. Management loyalty to employees motivation for keeping employees satisfied, survey results rank contributing factors as follows: 4th. Job security 9th. Good working conditions 10th. Interesting Tactful discipline 5th. Appreciation Good wages of work well done 6th. work 1st. 7th. Promotion and growth 2nd. Being part of the discussions PHONE: 800-289-5627 Read/Subscribe online at www.componentadvertiser.com FAX: 800-524-4982 3rd. Help with personal matters 8th. Management loyalty to employees