In an age where disruptive technology replaces humans and focusing on anything for long periods of time is waning, it’s not easy to find a business whose employees remain with the same company for extended periods of time. Lured by the promise of something more challenging, refreshing, working remotely, or receiving a bump in pay, many employees have no problem jumping from job to job.
According to research from Willows Towers Watson, “More than half of all organizations globally have difficulty retaining some of their most marketable employee groups.” Millennials and Gen Xers are reporting boredom and a lack of opportunity to advance (Fortune, 2017) as reasons to look for employment opportunities elsewhere. According to the same Fortune study, employee retention will be “the biggest priority, and concern, for business leaders in 2017.”
Pro Stainless dominates the industry in many ways, but employee retention is one of its main attributes. Employees have been with Pro Stainless an average of 18 years and are showing no signs of leaving. Joe Cogar, General Manager, celebrated his 30th year at Pro Stainless last week, a virtually unheard of example in this day and age. This loyalty has many benefits not only to employee relationships, but also to the number of customers who count on Pro Stainless for their fastener distribution needs.
Cost Effective: Long term employees save businesses hundreds of thousands of dollars in costs. Severance packages, unemployment costs, administration tasks, advertising, screening, interviewing, onboarding, and training cost companies precious dollars when it comes to employee turnover. It’s much more cost effective to retain employees.
Strong Customer Relationships: When a business retains the same employees year after year, customers come to rely on those employees to deliver products and services, answer questions, and provide a trusted, mutually beneficial working relationship. Pro Stainless’ John Malloy has been with Pro Stainless for 14 years and his customers treat him as their trusted employee, granting him access a newer employee would likely be denied.
Stability: A company that shows marked growth and an ability to retain its employees at the same time presents a stable front to its customers. Clients want to do business with a company who is going to be around for a long time. Long term employees show a loyalty and a commitment to not only their customers, but also to each other. When working hours sometimes overlap with time spent with family, relationships grow strong. A stable support system inside the work force among long term employees makes for a healthy company that will withstand the tests of time and the economy. “I have the best extended family,” comments JIT representative, Chris Maldonado. “I enjoy creating relationships with fellow employees at Pro Stainless and my customers. We are like family.”
Solid Knowledge Base: An employee who has been with the company for a long time knows the ins and outs of the company, its culture and its products or services. They are aware of the challenges as well as successes. By performing their jobs routinely over the years, they are more able to provide exceptional customer service and avoid the pitfalls that can cost companies tens of thousands of dollars if not more. “I’m at my customers so frequently that they come to rely on me as one of their crew. I even get invited to their birthday and anniversary celebrations! And they know they can ask me anything, and if I don’t already know the answer, I’ll find it out,” states Mark Wensmann, Pro Stainless’ JIT representative.
Pro Stainless is a leading industrial fastener supplier with over 18,000 line items stocked. During the 36 years we have been in business, we have worked with clients to provide additional related services that go beyond what typical fastener distribution offers. We have developed a Kitting program and a Just In Time stocking program which provide additional benefits and cost savings to our customers.