Companies in frontline industries suffer from high employee turnover rates. Good employee turnover is often an elusive goal for frontline businesses. According to data from the Bureau of Labor Statistics released in 2017, certain industries experience much more churn than others. Transportation, warehousing, and utilities: 41.0% Manufacturing: 30.4% Accommodation and food services: 72.5% Retail: 53.0% Construction: 60.1% Industry-specific reports reveal even higher turnover rates. For example, the American Trucking Association found that annual churn in the 3PL industry was nearly …
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Jirs Meuris is an Assistant Professor at the University of Wisconsin-Madison School of Business. He researches primarily within in the fields of behavioral science and human research management, especially with respect to workers’ personal finances. Professor Meuris earned his Ph.D. from the University of Pittsburgh. In April of 2018, Professor Meuris’s research revealed that “people who are worried about their financial situation have less cognitive capacity available to them, which subsequently spills over into their work performance.” He recently answered some of …
Frontline workers deserve full stakeholder status. Management, suppliers, stockholders, customers, and employees all succeed when they fully understand their role in actualizing their company’s mission. Likewise, frontline workers benefit their organizations most when employers treat them as full employee stakeholders. Stakeholder theory—a management philosophy popularized by R. Edward Freeman in his 1984 book Strategic Management: A Stakeholder Approach—suggests that effective companies align the interests of all associated parties to the largest extent possible. Under the stakeholder framework, the role of executives is …
Companies must determine their levels of employee turnover as a starting point for listening to their employees, meeting their needs, understanding their motivations, and striving to improve their workplaces. Using the employee turnover rate over a given period of time, companies can determine the savings that can result from reducing turnover. How is employee turnover calculated? We present two methods. Simple Formula This formula offers a typical method used by companies to determine employee turnover. Suppose that ABC Manufacturing maintained …
As economic analysts and government agencies look ahead to 2019, data suggest three undeniable trends in frontline industries: job growth, wage hikes, and labor shortages. Since workers will become more expensive and less plentiful, American companies associated with these industries will develop strategies adapted to employee retention in order to remain competitive. 2018 was a historically strong year for frontline industries. In sectors such as mining, construction, and manufacturing, American firms created an unexpectedly high quantity of new jobs in …
One year ago, we had the opportunity to attend the Global Entrepreneurship Summit (GES) in Hyderabad, India. It was a brilliant experience and we’re circling back to share a few updates and pictures. Undoubtedly, our highlight was pitching in front of Ivanka Trump, Advisor to the U.S. President, Rajan Anandan, Google Head of Southeast Asia and India and a host of other business leaders in the Semi Finals of the Global Innovation through Science & Technology (GIST) Catalyst Pitch Competition. Qlicket was 1 of 24 …
Startups 101 They say 90% of startups fail. Well, we haven’t hit it big (yet) but we also haven’t died. Watch this video podcast recorded on July 25, 2018, with Nathan Latka, and two of the three Qlicket co-founders, John Goldschmidt and Vivek Kumar to learn more. Do, or Do Not, as Amazon Does? Last week, Amazon announced that it will pay all 350,000 of its workers at least $15 per hour. “The shift to online shopping has led many retailers …
Interview with Lisa Harrington, global logistics author, supply chain consultant, senior research scholar, and John Goldschmidt, Head of Product Growth at Qlicket As the company’s solution and customer base continues to grow, John regularly meets with managers and HR professionals who are seeking to make their frontline workforce safer, more satisfied, and more productive. He is always available via email at johng@qlicket.com. This is Part 2 of a two-part series. Part 1 looked at the talent shortage on the supply chain …
Approximately 75% of workers quit because of lack of engagement, career advancement, or other factors that are considered regrettable turnover. Why are there fewer blue-collar workers? The number of blue-collar workers has noticeably shrunk in recent years. Could this be due to a decrease in manufacturing/constructions jobs in entirety or because of dissatisfaction and turnover in the workplace? Let’s focus on the latter one for now. As evident in the graph by the Center for Economic Policy and Research, manufacturing related jobs …
Interview with Lisa Harrington, global logistics author, supply chain consultant, senior research scholar, and John Goldschmidt, Head of Product Growth at Qlicket As the company’s solution and customer base continues to grow, John regularly meets with managers and HR professionals who are seeking to make their frontline workforce safer, more satisfied, and more productive. He is always available via email at johng@qlicket.com. This is Part 1 of a two part series. Part 1 looks at the talent shortage on the supply …