Over the past few years, there has been a remarkable resurgence of manufacturing in the United States. Illinois in particular has experienced a great deal of growth, making manufacturing Illinois’ largest industry. This growth brings positive impacts such as having a higher economic contribution to our state and the fact that manufacturing continues to generate various job opportunities.

If we have a lost cost in our business of $100,000, $500,000 or $1,000,000 would you know about it? Should you know about it? Would you take action to reduce the lost cost?

What is the actual cost of turnover for your business?
Unfortunately, well over 90% of companies do not capture this true cost or know how to calculate it specifically for their company. To get a total annual cost, one must look at the cost per person multiplied by the number of employees lost in a year.

IMEC believes building quality, customizable training programs, and defining career pathways are the solutions to manufacturing workforce challenges of shortages of skilled workers, retiring workforce, and meeting the needs of innovative technologies that the current skills don’t quite match. The new Career Pathways in Manufacturing program aids companies in recruiting, succession planning, and developing the workforce of the future with skills training in high-demand technical areas.

This is an original article from the NIST Manufacturing Innovation Blog.

Up and down busy streets nationwide, the same six-word banners stand outside in front of hundreds of businesses. Affixed to poles on front lawns or hanging above entrance doors, these inescapable banners, while the numbers may vary, almost always have the same wording:

Part 1 to this blog discussed the importance of incorporating ESG into your business strategy for stakeholders including customers, employees, and investors. In this follow up, you will learn how and why ESG evolved from its Corporate Social Responsibility (CSR) origins, transcending the latter’s internal perspective with an outward-facing regimen of objective, measurable, stipulated standards to validate and verify reductions in impacts such as carbon footprint/output.

Local and regional colleges are terrific places for recruiting entry-level talent. Here are nine tips for getting the most out of your college recruitment program.

1. Work on Recruitment All Year
College students begin looking for internships and jobs long before they graduate. Therefore, it’s important to form strong relationships year-round through a variety of tactics.

How important is it to bring Millennials into your workforce? Let’s put it this way: Like an unstoppable speeding train, the future is coming up fast. Couple that with the fact that the future belongs to those who adapt advanced manufacturing technologies. Will yours be the company running to catch the train after it has left the station?

Written by Travis Epp and Lise Stewart of EisnerAmper.

Corporate social responsibility (“CSR”) and its flipside—environmental, social and governance (“ESG”) practices—stand to be some of the most defining criteria for businesses since the introduction of quality standards. Any business seeking investors, wishing to sell, wanting to attract young and talented team members, or looking to improve its standing in the eyes of customers will need to pay close attention to the array of practices that make up this way of doing business. 

“I can’t find people!"

This is without a doubt a common challenge for companies today. Challenges do not go away on their own. As leaders we must develop strategies to use available tools and resources to overcome the challenges. In most key areas of business there are strategic plans. The activities are planned, monitored, and managed to ensure the best results and minimize business impacts.