For your company to operate efficiently in a tight job market with a widening skill gap you have to keep a high-quality talent pipeline. In the U.S. manufacturing turnover rates are as high as 20% and if you have a high turnover rate, that cost really starts to add up.
EBN (Employee Benefit News) estimated in 2017 that it costs around 33% of a worker’s annual salary to replace them, meaning you could be paying nearly $15k per employee making a $45k salary. For technical positions in the manufacturing sector, replacement costs jump to 100-150 percent of salary. More concerning is the potential loss of productivity. Did you know that companies with high turnover rates lose, on average, $120,000 per lost employee? Your HR team can stay ahead of competition when the demand for manufacturers is high by simply creating a high-quality talent pipeline. A large, and quality, talent pool offers a readily available applicant when candidates’ supplies are stretched, just when you need it most.
Keeping a high-quality talent pipeline seems expensive, but it doesn’t have to be.
Losing money from inefficient hiring practices can be an issue of the past because we have solutions for Industrials, Wholesalers, Manufacturers, Warehouse Logistics, and Non-Residential Construction companies.
We offer custom solutions that fit your business needs. Our AI/ML (Artificial Intelligence and Machine Learning) technology stack allows us to identify key market points such as talent density, compensation levels, competitiveness, attrition, and competitor density. Our process includes generating data that other recruiting agencies do not have access to in their main channels of recruitment. We use automatic aggregators to push your job posting onto multiple platforms from one system. We also use project management software to ensure our team and yours are constantly working together. On the blog, we recently talked about how we reached 100% of our client’s six-month hiring goal within 80 days. It ended up saving that client $255,519 in hiring costs, but we also helped businesses establish efficient and effective hiring practices. Our services for this mid-sized manufacturing company provided solutions for these pain points:
- Establishing Employer Branding
- Talent Development
- Maintaining a Candidate Pipeline
- Consistent Talent Reporting
- Meeting a Budget
We package our recruiting services with world-class technology and skilled talent managers so you can save without sacrificing quality. We offer AI-powered tech and on-demand reporting, sending you detailed reports on our performance weekly. You’re able to track our progress and your hiring team moves in real-time, whenever and wherever. We will consistently be sending you top-quality candidates to fill your hiring funnels. Daily quality uploads, interviews, and resumes will be at your fingertips. Lastly, you have a dedicated team here at PeopleLift, ready to help you and your business succeed.
Discover the PeopleLift Difference Today – Contact us to schedule a no-obligation Discovery Call and get your FREE Comprehensive Talent Marketplace Assessment!