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Trust is a key component of manufacturing employees feeling safe and supported in their work environment. Companies that foster a high-trust relationship between employer and employee may benefit from greater productivity and motivation as their workers feel supported to better perform their jobs.1 Mass layoffs during the pandemic may have impacted the sense of trust and security among manufacturing employees.2
In April 2020, 1.3 million U.S. manufacturing workers lost their jobs.3 With widespread layoffs in the not-so-distant past, potential hires may be reluctant to trust an industry that recently let go of so many employees.
As manufacturing employers look to rebuild relationships after years of difficult staffing choices and other long-standing business shifts, industry leaders may find that a focus on employee wellness — complete with improved benefits — can make a difference.
Repair Employee Trust With Outstanding Benefits
As the manufacturing industry evolves and works through these issues with employees, creating an employee-first culture within your business is a valuable strategy to consider for improving production yields and quality. Building an employee-first culture can include adding benefits like on-demand pay and other modern pay solutions to further support employees. In addition to supporting employees, this type of culture encourages a collaborative process between employer and employees to drive a company’s mission.4
Building a sense of value and worth in the employer–employee relationship may increase employee engagement and satisfaction. Research conducted by Manufacturing Digital Magazine shows that engaged manufacturing employees have 70% lower turnover rates and a 78% higher safety record.5 Additionally, culture-driven organizations experience fewer mistakes, higher productivity and lower absenteeism.6
This employee-first strategy should include perks that are more aligned with employee desires, such as comprehensive and customizable benefits. According to a study from Fisher Phillips, 89% percent of employees reported feeling more motivated and productive at work when they had access to their wages before payday.7
Supporting employees with modern pay solutions like on-demand pay can contribute to building an employee-first culture and help employers attract top talent, reduce turnover and increase feelings of trust and support in the employer–employee relationship, thus improving workplace morale and boosting productivity.8
This post is part of a series that will dive into some of the current challenges and solutions for manufacturing employers.
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All information herein is for educational purposes only and should not be relied upon for any other use. The information herein does not constitute the rendering of financial, business, accounting, securities, tax, legal or professional advice by DailyPay. No fiduciary obligation or duty exists or is created, between you and DailyPay. DailyPay does not warrant the completeness or accuracy of any information provided to you.
1 https://www.forbes.com/sites/johnhall/2021/03/14/why-a-focus-on-employee-trust-is-essential/?sh=79c6f7f243ee:DailyPay, 2020
2 https://www.sme.org/technologies/articles/2020/may/manufacturing-jobs-april/:DailyPay, 2020
3 https://www.sme.org/technologies/articles/2020/may/manufacturing-jobs-april/:DailyPay, 2020
4 https://www.honestculture.io/blog/employee-first-culture:DailyPay, 2020
5 https://www.rhythmsystems.com/blog/10-ways-to-improve-employee-engagement-in-your-manufacturing-company:DailyPay, 2020
6 https://www.inc.com/entrepreneurs-organization/how-to-create-a-people-first-company-culture.html:DailyPay, 2020
7 https://www.fisherphillips.com/news-insights/earned-wage-access-tips-for-employers-seeking-to-attract-retain-talent.html:DailyPay, 2020
8 https://www.honestculture.io/blog/employee-first-culture:DailyPay, 2020
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