As part of Plastic News & Rubber News 2022 Women Breaking the Mold Networking Forum, prominent women in manufacturing were recognized for their influence in the industry. Consequently, they shared their experience among like-minded peers. Tayte French Lutz, the Vice President of French Oil Mill Machinery Company, a featured speaker during the event, delivered a presentation on leveraging a company’s corporate culture for personal growth.
Supportive Company Cultures and Employee Retention in Manufacturing
Firstly, a business that embraces and promotes workforce diversity cultivates an environment where employees feel a sense of belonging. This, in turn, can lead to a host of benefits, as Tayte French Lutz, the Vice President of French Oil Mill Machinery, explained during the “Women Breaking the Mold” event.
In her discussion, Lutz challenged the 250+ ambitious industry women and few brave men to map their next professional chapter considering their personal brand, their career goals, networking relationships and to leverage opportunities such as volunteerism and advocacy supported by their company’s culture for personal growth.
Employee Retention Research
Lutz cited a study by the Harvard Business Review. It revealed that employees who have supportive colleagues are 65% more likely to enjoy their work. Hence, they’re 86% more likely to recommend their company as a great place to work, 40% less likely to suffer from burnout, and 53% less likely to contemplate leaving their job.
She also noted that companies with a strong corporate culture saw growth of 683% over the same period. This is compared to those with poor culture, which saw a growth of 166%. This trend held true for stock price, profit, and workforce as well.
How to Learn More
You can view the 2022 special issue of Plastic News’ Women Breaking the Mold here.
If you’re interested in attending the 2023 Women Breaking the Mold Networking Forum in Scottsdale, Arizona, click here.