What Impact Would a 21 Percent Increase in Productivity Have on Your Supply Chain Business?
Regardless of what role an employee has, in the supply chain environment there are always deadlines and strict processes to follow, with change and innovation almost always a constant as well. These pressures can wear your employees down, and if they’re left unaddressed, you may find your company experiencing high turnover due to a work-life imbalance.
In a study conducted by the Corporate Executive Board, over 50,000 employees were asked about their work-life balance. The report revealed that employees who are happy with their work-life balance stated that they:
- Work 21 percent harder than employees who are unhappy with their work-life balance.
- Are 33 percent more likely to stay with their current employer.
If you were able to reduce turnover, what impact would that have on your hiring costs and profitability? More importantly, what impact would a 21 percent increase in productivity have on your supply chain business?
In the same study, HR departments were asked if they were satisfied with the work-life balance their companies offer. 60 percent of businesses polled said that they were satisfied with their offers; but when their employees were asked, only 16 percent agreed.
What Does this Mean for Supply Chain Companies?
This means that there is a potential breakdown between what your company perceives as a good work-life balance, and how happy your employees actually are with their balance between home and work. To bridge this potential gap, supply chain departments and organizations need to be proactive about helping encourage work-life balance in current employees—and in future ones as well.
Effective Work-Life Strategies to Initiate
While employers want to strike a work-life balance that their workforce is happy with, they also need to be profitable and productive. Evaluate your current work-life initiatives (such as policies, programs or benefits that help employees reduce stress and create a balance between work and home) and compare that alongside your turnover and productivity. Did you make any changes to your work-life initiatives and then experience higher or lower turnover? Or have you had the same policies for 20 years?
Once you have evaluated your current policies, consider integrating new programs or benefits to help your employees feel they have a better work-life balance.
For most employees, it’s enough to have an employer who is supportive, committed and flexible, and who creates an opportunity to adjust work arrangements to meet individual circumstances. However, the more satisfied they are with their current balance as well as their current position, the more likely they will be to stay with your company.
Looking for new work-life programs to implement? Here are some ideas that support work-life balance:
- Allow employees to work from an alternative location.
- Compressed work schedules allow them to work their assigned number of hours in fewer than 5 days a week or 10 days per pay period.
- Flexible work schedules that allow employees to put in time up to two hours before or two hours after the regular schedule of the office.
Due to the fast-paced nature of most supply chain environments, trying to find a good balance between work and home life can be a challenge. As work becomes more demanding and family commitments more pressing, employees are becoming increasingly stressed and less productive at work. Helping your employees achieve that balance will help your company!
We’d like to help your company find the right supply chain employees—or help job seekers find the right job. Contact ZDA Supply Chain Recruiting to help you make the connections you need!