Case Study: Fox Valley Metal Tech

Pain Point #3: People Issues/Communication

Customer Situation:

  • Company was experiencing 40% turnover on the shop floor/manufacturing team
  • Open positions, machine down time and lost productivity
  • Missing due dates for customer orders
  • Significant increase in costs recruiting, hiring and training

MyTalentPlanner’ Solution:

 

  • Operations team implemented monthly 1:1 meetings with all production team members
  • Put development plans in place for all team members that invests in the Total Person.
  • Leadership Company completed Talent Planning Process to create a 3-year Strategy & Talent Plan. Right Plan – Right People.
  • Created 3-year strategic vision and financial vision that was now the target for all decisions.
  • The company completed talent plans/strategies to attract, hire, develop and retain the talent to achieve the company goals.

Customer Benefits/Results:

This company is saving $300,000+ to the bottom line by reducing employee turnover from 40% to 8% by using MyTalentPlanner to dramatically increase their employee retention.  And they are just getting started.

Factors Contributing to Savings/Profit Improvement:

  • Recruitment Costs: Reduced need to advertise, interview, and onboard new employees.
  • Training Costs: Lower need for training new employees.
  • Productivity: Increased productivity from experienced employees who are more familiar with their roles.
  • Morale and Engagement: Higher morale and engagement levels among employees when turnover is low.
  • Customer Satisfaction: Continuity in employee-customer relationships can improve customer satisfaction and loyalty.
  • Intellectual Capital: Retaining experienced employees helps maintain institutional knowledge and expertise.