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(7) Risk Management

In this series we are discussing the benefits of employee training as it relates to the CNC machining industry, and why it's critical in today's manufacturing environment. A common objection we hear on this subject is, "Why should I train my employees, they will just leave and go somewhere else." The answers to this question are too numerous to list here, but this is a great conversation piece. The quote by Zig Ziglar is helpful to put this in context. “The only thing worse than training an employee and losing them, is not training them and keeping them.”

In part 7, we are wrapping this series up discussing risk management as a benefit to employee training. Going into business is a huge risk. Once we have a business established, not protecting what we have is also a huge risk. Any company that takes risk seriously, and manages risk, will be a more resilient organization. When our CNC staff receive the proper skills training, it provides us with a wealth of benefits, which is our topic in this series.

Previously on this Subject

The Windup

Previously, we made the case for employee training in terms of attracting high caliber employees, a flexible work force, lower cost, higher productivity, improved morale, and greater employee retention. Imagine for a minute what those improvements would mean to your company or department. What would it be like if morale improved by 25% or 50% and employees were generally happy? What would it be like if key employees stuck around 25% or 50% longer? Now imagine a workforce that is more flexible in the sense that you can mix and match labor to address workflow bottlenecks with employee's that are happy to help. When you start to visualize what this improved workforce looks like, and you add in higher productivity rates and reduced costs, as a manager or business leader, you are on top of your game. Business is "running on all cylinders", metrics are improving across the board, and the boss is happy.

That sounds amazing right? And it’s easily achievable with a small investment and some external help. What owner or manager would not want this for their organization? We could stop there for sure.

The Pitch

In this scenario, now that your company is running on all cylinders (Ithe combustion engine analogy is always my go to favorite), there is one last thing I want to discuss with you. And by the way, it really is a thing of beauty to see an organization run in this way. I’ve witnessed it first-hand and had the pleasure of being involved with organzations that run this way. When you company is really doing well, what you start to think about is, “how can I protect this”; things like “succession planning” come into the conversation.

Here's the thing. The very thing that helped you accomplish this remarkable feat, this finely tuned machine shop, is the very thing that will help you to protect it. Risk Management is something that any successful enterprise will need a plan for. And there are specific things like online security and intellectual property that will require specific training plans, the bulk of the risk we face in our business comes from with. And there are many risks we face.

Skills training for our employees is a critical element of Risk Management

  • As your productivity increases, the risk of losing business to your competitor decreases.

  • As your employee costs reduce, your balance sheet improves, reducing financial risk.

  • As your employee retention improves, we reduce costly turnover and the loss of “tribal knowledge”.

  • As morale improves, the risk of losing money, losing employees, and making mistakes is reduced.

  • As your workforce becomes more flexible and adaptable, the risk of disruption to throughput is reduced.

  • As you attract higher quality employee candidates, the risk of costly mistakes is reduced.

Our employees are our most valuable assets and can also pose some of the greatest risk to our organization. For us to reduce risk to our organization, regular and continuous skills training is the most cost effective, low risk mechanism, to incorpoate into a Risk Management strategy.

About g3cnc

G3cncs training modules are a powerful tool to achieve the type of skill and effectiveness you want with your employees. Skilled employees make the job of everyone them easier and put you into a position where your organization is running like a finely tuned race car.

G3CNC takes the burden off your internal resources by providing all the training resources that a modern machine shop needs to keep your employees engaged in their work, inspired, and performing at their best.

If you’re intrigued and interested in developing higher skill levels, please contact g3cnc today to begin a discussion around how we can help you accomplish this

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