“The Right Benefits Attract the Right Talent”
Key takeaways:
Introduction:
This company is recognized as one of the leaders in manufacturing precision tubes and press parts for the auto sector. It is now established as a company that started mass production of two-wheeler assemblies for one of the leading and trusted brands in the world. With state-of-the-art infrastructure and multiple manufacturing plants in Delhi and neighbouring regions, The company is poised to be the leader in two-wheeler assemblies in India. The company’s vision is to strengthen its core business of steel processing and steel tube manufacturing for the automotive industry and diversify into steel products for white goods and the furniture industry by forging relevant partnerships.
The Challenge:
With over two decades in the manufacturing industry, The company has faced multiple challenges on the way. With every plant added to the company’s portfolio and relevant partnerships on the way, the company has required streamlining of systems time and again. the company relies on the loyalty of its employees as it heavily relies on its trade secrets to stay in place. With the recession hitting the automotive industry heavily and employee absenteeism and turnover becoming a bigger problem since the pandemic, the relative stability of leadership positions has been the primary focus of the company to attain its vision of expansion. Everyone can agree that absenteeism, turnover and inexperienced leaders significantly hinder performance and throughput and drive up operational costs.
Getting to the heart of the problem:
Often, manufacturing companies face the problem of measuring every part of operations and focusing less on the human capital component. Leaders from operations and the respective teams often view challenges differently. It not only leads to a lack of clarity in getting to the root of the problem but it also becomes a challenge to streamline the company’s philosophy.
With a robust partnership, streamlining cultures and retaining talent became the cause for concern for the company. They realised the importance of identifying factors leading to employee absenteeism or turnover, such as benefits packages and wage-related competitiveness. Diversification of the company’s vision also lead to rising in competition and attracting the right talent became essential for the company’s growth.Unipe addressed the root of the problem and subsequently the solution poised the company to fix the problem.
The Solution:
The company did not just need skilled leaders but also attract unskilled (lower income earners) labour and train them for the job. Employees working in these roles come from diverse economic backgrounds and have different visions concerning to their growth and the wage benefits that they seek. While the company offered the promise of great working conditions, Unipe added financial wellness to the benefits promised to potential and existing employees.
Some of the ways that ABC Manufacturing overcame its challenges with Unipe were:
Attracting the talent more than the competitor: Due to Unipe’s financial wellness plan for the employees, the company could offer an added wage benefit and attract the right talent.
Retention of the employees via Earned Wage Access: Unipe is an employee benefits company that helped employees get loans which are paid through payroll deductions, with no charge to them. This helped them plan their finances debt free and also increased loyalty to the employer.
Post-Unipe picture:
