Successful efforts to bolster maquiladora employee retention in 2020 can ensure competitiveness in the global marketplace.
Staff turnover can be one of the more costly challenges faced by any business. Maquiladora employee retention is no exception to this rule but, rather, is one of the keys to running a successful operation in Mexico. If your firm is could benefit by focusing on this important area, it is a good idea to start the year 2020 by implementing a plan to stabilize company personnel loses by improving your firm’s overall work environment. Doing so will enable you to succeed in reducing costs, as high employee turnover can raise a manufacturer’s payroll expense from between five to seven percent.
Start the new year by taking the following six steps that are aimed at maximizing maquiladora employee retention in 2020:
Identify the main cause, or causes, of turnover
When facing the problem of higher than desirable worker turnover, the first thing that must be done is to identify the main obstacles that exist to achieving a high rate of maquiladora employee retention. Among the main causes of the loss of personnel in the industry are that salaries and benefits do not meet worker’s expectations, problems exist with immediate supervisors, and a lack of opportunities for promotion and/or recognition.
Today, especially among millennials, changes in employment status occur more frequently. A recent Gallup report on this generation of the workers reveals that 21% of millennials say that they have changed jobs within the past year. This is three times the number of non-millennials who report the same.
Develop a proposal that is aimed at increasing maquiladora employee retention
This step consists of designing a comprehensive program that addresses the causes of worker dissatisfaction and the lack of employee motivation. A plan to boost maquiladora employee retention typically seeks to improve patterns of worker remuneration and to increase the opportunities that exist for individual and group recognition and job promotion. Such a proposal should address things that include salary scales, benefits, worker safety considerations, facilities, workloads, attitudes of management, on-boarding procedures, employee training programs, assessment programs and procedures, and performance metrics.
Causes of employee turnover should be ranked in an orderly manner and assigned a priority. Each cause should be addressed in order of importance. Maximizing maquiladora employee retention is critical because workers are the lifeline of an organization. An employee retention that is successful pays for itself over and over again in the long run by helping companies to recruit top talent. This increases an organization’s productivity, as well as its morale.
Improve work area conditions
Creating a healthy professional environment is an important factor that helps to promote maquiladora employee retention in Mexico. It has been proven time and time again that workers will be more motivated, productive, at ease, and content if the facilities in which they labor are healthy and to their liking.
In addition to retaining a greater percentage of personnel, manufacturing facilities in Mexico that work to create a healthy and pleasant work environment for their employees are able to attract and hire more and better candidates, have lower turnover, are more productive, maintain better rates of absenteeism, and are often able to lower their overall costs.
Furthermore, companies that succeed in retaining their workers in Mexico often provide them with pleasant common spaces such as an cafeteria in which they can enjoy meals and socialize together.
Provide employee recognition
In Mexico, as in any other work environment, employees respond to appreciation expressed through a sincere recognition of their good work. This is because it confirms for them that their efforts are valued by their supervisors and by management.
Maquiladora employee retention can be maximized by providing public recognition that is timely, and informal or formal. This recognition is an acknowledgement of an individual or team’s positive performance and behavior.
When employees and their work are valued, their satisfaction and productivity rise, and they are motivated to maintain or improve their good work. They are also less likely to want to change their place of employment.
Make a retention offer
If there are professional individuals within an organization in Mexico that should be retained, it may be appropriate to make an offer for continued employment that includes a competitive rate of compensation, a superior benefits package, a bonus program, as well as opportunities for career development.
All of the six actions discussed in this article will serve to maximize the effectiveness of maquiladora employee retention programs in 2020.