Enhancing Competitiveness

Technical Publications and Training 54365 Sassafras Drive Shelby Township, Mi. 48315 Phone #: 586.703.5445 Enhancing Competitiveness

Table of Contents ,[object Object],[object Object],[object Object],[object Object],A portfolio of firms (across industries) selected because they invest an above-average amount on training returned an average of 45 percent more than the S&P 500 index annually in recent years. — Do firms investments in education and training pay off? By Laurie Bassi and Dan McMurrer for ASTD and Saba. Unisys World — July 2001.

Value Premise ,[object Object],Our Primary Objective: Enhancing your Competitiveness!

Loss of Control A Typical Scenario The average rate of total absenteeism, authorized and unauthorized, is estimated to be between 10% and 15% in North America. But, there are plants that have exceeded 15% significantly. Just to maintain a standby pool of absentee replacements can cost $16.5 million per plant. — Harbour Report 2006 ---

Loss of Control ,[object Object],[object Object],[object Object],[object Object],[object Object],Absenteeism Costs You Money Downtime in an automotive plant assembly line can cost up to $10,000 per minute. Source: Worsham, Is Preventive Maintenance Necessary ?, "Focus on Reliability" at MaintenanceResources.com Lost-time injuries cost employers an average of $14,000 per incident in direct costs and $280,000 in indirect costs. Source: National Safety Council: 2008

The Solution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Tied to your business objectives & financial targets! Improve Efficency Reduce Injuries Decrease Downtime

The Bottom Line ,[object Object],Class Room 20% 40% 60% 80% 100% Information Retained Efficiency increase through Flexible Workforce Training Sources: Combined Learning-/Forgetting-Curve according to Hermann Ebbinghaus Impact of different learning-methods according to e.g. Craik & Lockhart The Business Case for E-Learning — By Tom Kelly and Nader Nanjiani Plant Floor Visuals Interactive Efficiency Increase Through Learned Methods 24% A study of 540 U.S. companies concluded that those who invested more in training realized a 37% higher gross profit per employee. — ASTD — 1998

The Bottom Line ,[object Object],Costs/Injuries Reduced Due to Job/Safety Training & Visuals Per 100 Employees Employer Paid Workman’s Comp Benefits $50,000 $37,500 5.6 4.2 Recordable Injuries Indirect/Direct Costs Associated to Injuries $1,646,400 $1,234,800 Source: American Society of Safety Engineers, White Paper Addressing the Return on Investment for Safety, Health and Environmental (SH&E) Management Program A Liberty Mutual survey shows that 61% of executives say $3 or more is saved for each $1 invested in workplace safety, while 13% report $10 is returned for each $1 invested.*

The Bottom Line ,[object Object],Time required to access a single maintenance/task procedure Operation & Maintenance Manuals (minimum) Knowledge Management System (maximum) 3 minutes 20 minutes Downtime in an automotive plant assembly line can cost up to $10,000 per minute. Source: Worsham, Is Preventive Maintenance Necessary ?, "Focus on Reliability" at MaintenanceResources.com Internal major automotive company study 2008 Cost of Downtime $200,000 $30,000 ASTD (American Society for Training and Development) estimates 75% of the U.S. workforce will require retraining within the next five years to keep pace with industry and global competition

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],The Bottom Line

Enhancing Competitiveness

Recommended

Recommended

More Related Content

Viewers also liked

Viewers also liked (13)

Similar to Enhancing Competitiveness

Similar to Enhancing Competitiveness (20)

Enhancing Competitiveness