What if you could find savings in your business by better understanding one of your largest costs. One of the first items nGROUP investigates is the true hourly cost of labor. Many companies have a cost line in the P&L, a labor report, or some calculated cost for their personnel. This often times lead to missed opportunities or misunderstood results.
Your employees are the backbone of your business. Satisfied, engaged, and high-performing employees can help your organization advance. On the other hand, an unhappy, unengaged, and underperforming workforce can hold you back and have an adverse effect on your competitive positioning. By understanding the current labor landscape and assessing its impact on your business, you can determine what steps you need to take to maximize the potential of your workforce.
Engineered standards are key to implementing production planning, management reporting, incentive structures, and individual accountability. Standards are developed using techniques that create fair expectations of the output projected over a specific time frame.
One of my favorite themes in Malcolm Gladwell’s work is his perspective on talent. Several of his books and essays focus on how we identify talent, how it develops and what it is. The concepts are worth revisiting as I see a lot of essays, blogs, and articles focused on the theme of how to find and engage the “best talent”.
Years ago I worked with two 3PL’s that had cross-docking operations in the Southeastern US. On paper, the businesses were strikingly similar. Both supported big box retailers with highly manual processes. They had dramatic fluctuations in volume and frequent interruptions to production planning due to upstream supply chain issues. The companies paid market competitive, but relatively meager wages, and had a workforce primarily made up of minorities.
However, their cultures were as different as night and day. So, what made these two similar operations so different?
A term you’ll often hear in conjunction with minimum wage is “living wage”, which is the amount an individual must earn to cover a normal standard of living. Living wage is becoming the standard for how the minimum wage should be calculated.
This is the last nGroup breakout! We hope you've enjoyed reading the answers to questions we have commonly been asked. If you have any others, please ask by contacting or tweeting at us @ngrouppartners. Hope to hear your feedback soon!