To counter the misconception that manufacturing offers workers limited flexibility, manufacturing employers have strengthened their focus on defining career paths, implementing succession planning, increasing transparency and improving communication. Concerns about healthcare costs for aging workforces are also rising, and employers are looking for ways to manage finances without shifting more of the burden to employees. Encouragingly, more employers view health and wellbeing improvements as opportunities to control and optimize expenses.
There's also a trend toward embedding company values into cultural initiatives, which can enhance employee engagement and job satisfaction. By improving managers' effectiveness, preparing future leaders, and reinforcing internal communications, employers are showing a commitment to employee satisfaction, engagement, and financial stability. This leads to increased productivity, loyalty, and resiliency among employees.
Key highlights
Our research found that the top priorities for manufacturing organizations include:
- Empowering managers to boost productivity and retain talent to maintain desirable benefits while minimizing low-value services
- Health benefits that combine retention goals with the company's cultural values to increase employee satisfaction and organizational strength
- Prioritizing the development of future leaders and improving internal communications to build organizational trust
- Offering supportive benefits with enhanced resources that tackle employees' daily financial stressors to help promote interest in longer-term savings
As part of our Workforce Trends Report Series, Gallagher's Manufacturing addendum highlights key findings and implications based on responses from 460 manufacturing organizations that participated in our 2024 Benefits Strategy & Benchmarking Survey.
