ROI of Our People
Posted By Don Clouser, Chairman of the Board, Thursday, October 10, 2019
I have been challenged by many over the years for investing in people, especially production people. “What if you invest that money and they leave?”. My current boss has the best reply with “What if we don’t, and they stay?”. The fear of course is a poor return on investment, but we are discussing two different issues, training and retention. They could leave for lots of reasons other than money. Also, if you had a more efficient workforce, would you not make more money and be able to properly value them? Either way, you cannot get a good return on your investment if you do not invest.
But what if you could invest in a guaranteed return on investment? No worries on a loss? Now you can just concentrate on retention. What is this guaranteed investment? I would like for you to consider TechCred. TechCred is a state initiative to provide funding for technical job training that is in high demand. Employers will work with local credential providers to get the training that they want for their employees. The employer will apply on the TechCred website for pre-approval. Once the program is approved, the employee can enroll in the program. Upon successful completion and submitted documentation, the employer will be reimbursed for some or all of the training, up to $2,000 per employee and $30,000 per employer.
Now I am sure I have made it sound easier than it really is and may have left out a few details. But I encourage you to contact DRMA members – Clark State, Edison State and Sinclair community colleges or the adult programs at Upper Valley and Miami Valley career centers to get the full details. Or, contact the DRMA office, and they’ll hook you up with the right people to get you help. Obviously, there is some investment of time beyond the money, and there are no guaranteed returns, but what better way to develop your people? This shows your faith in them and encourage retention by investing in their future. The online application for this program is open only until October 31, so you need to get moving.
Along the lines of workforce development, I want to thank everyone who hosted a MFG Day event. This is a powerful awareness tool to bring more people to manufacturing. All of you who participated made a huge investment in time and money for manufacturing’s future. Thank you! For those of you who would like to participate next year, please reach out to the DRMA office to learn best practices, meet local schools and be able to plan your own successful MFG Day on the first try.