Employee Retention: How to Train, Retain and Prosper at Minimal Cost
The forging industry has spent thousands of years adapting to changing environments in its mission to supply quality products to the industries it serves. In these more challenging financial environments, in which pensions are hard to come by and training new employees comes at such a high cost, it is apparent that we need to do more to retain good talent.
With the advent of Industry 4.0 in manufacturing, the forging industry is faced with yet another challenge: talent management. We’ve all been there. Sometimes an expert forger can work a forge press like a surgeon but can’t figure out how to operate the new screens, controls and sensors. Meanwhile, a new hire out of high school may be able to work all of the new technology but doesn’t know the first step to making a forging. One of the biggest internal problems tends to be finding that perfect candidate who is an expert in both fields. In the absence of this, we resort to hiring the next best candidate and training to fill in the knowledge gap. The issue here is that the price tag to train (in time, personnel and money) can be rather costly.