Board Converting News, May 17, 2021

Gene Achieves (CONT’D FROM PAGE 26)

Opportunities to invest in warehouse technology like Automated Guided Vehicles (AGVs), driverless vehicles, robots and drones are wise investments, according to Marks. Other options, like budgeting for 2.5 percent salary increases, conducting safety reviews, and hiring an out- side Human Resource consultant are other great ways to prepare for foreseeable wage increases and attract new talent. He stressed the benefit of using the Work Opportu- nity Tax Credit to offer sign-on bonuses to veterans, those newly released from prison, or those coming off welfare. All of these suggestions work, but only if you have enough labor. So how does a company do this? Marks shared five strategies that companies are implementing to attract new employees: 1. Offer good healthcare retirement benefit.

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2. Offer work-from-home opportunities. 3. Offer unlimited Paid Time Off (PTO) 4. Offer student debt assistance 5. Use team building apps like Bonusly

“The U.S. economy is strong, manufacturing is growing, and the pains we all are experiencing, will eventually come to an end,” Marks concluded. “With creative strategies to recruit and retain talent, as well as adjusting prices and staying aware of inventory, manufacturing companies will get through this time of unprecedented growth and chal- lenges.”


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May 17, 2021

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