DECEMBER CEO CONNECTION!
Check this ‘From the CEO‘ section of the Weifield Weekly in the future for ongoing updates from our awesome executive-in-chief, Seth Anderson! Below is Seth’s December, 2018 CEO Connection topic for your reading pleasure.
HELPING US TO HELP OURSELVES
“With teamwork, any little contribution you make yields greater output when it meets the contribution of others, and guess who gets the plus? Everyone in the team!” – Israelmore Ayivor, Author/Blogger
During our recent strategic planning meeting, topics discussed revolved around the betterment of people. The discussion comes at a time when we are growing, short on people, and seeing bad industry trends forming. As a company, there are so many opportunities that we can take advantage of; not only is the economy rocking in every market we are in, there are some mega projects coming, downstream – such as DIA, Convention Center Expansion, Western Stock Show, to name a few. Owners and contractors are looking for the optimal teams who have the resources to get these jobs done. If we can address our growing pains in an urgent fashion, we are guaranteed some of this work – which not only will help the company grow, but will also relieve some of our stress.
So, let’s discuss what is in our control. Is it schedules? (No.) Is it inspectors? (No.) Is it other trades? (No.) What about the lack of available manpower? (Maybe…). Or how about, the experience of our people? (Maybe…). Let’s discuss some ways we can help.
The first big topic is SHOWING UP… ready to work. Weifield’s absenteeism has added extra stress to everyone. There is almost 10% of our workforce missing from the job sites, every day. Not only does this equate to lost wages for the absent person, but now everyone has to pick up the time that this person has lost for the project — causing overtime and inefficiencies. A group at our strategic meeting is going to take this heavy-lifting and work with the teams to create incentives and standards for the company to address absenteeism. We value everyone’s thoughts on this so please send any ideas you have to me.
The next topic we need to address is a plan around our field supervisors — to help them deal with the complexity of today’s projects. We also need to create ways the field supervisor can help their crews be more efficient in the field. We have seen a slide in our productivity over the last few years and we want to figure out ways of bringing back the work ethic that made this company great. There is another group from the strategic planning meeting that will be taking on this task. We need to know the struggles and where you see the opportunities, so please send in your ideas in on how to ‘make this company great again’ (hopefully, you got a chuckle from that one).
The last thing, which may be a difficult topic but is mostly in our control, is our attrition rate. Attrition rate means employee turnover – or the number of people who are leaving our group, over time. We have hired almost 300 people this year, which would have put us well above what we anticipated. However, we lost over 200 people, so we only have netted around 80 or so people.
Like most sport teams do, we look at the stats. Being absent from work has caused a staggering amount of lost wages for current employees. We have over 500 people in the company, so if we can cut our 10% absenteeism down by half it would have a net effect of hiring 52/2 – 26 people. How many of you like extra money in your pocket and would like to have some extra manpower on the projects?
The next topic is how we relieve the stress from the job sites. We are losing around $5M this year from the declining efficiencies on the projects. This is around a 13% increase from previous years. 520 people x 13% = 67.6 people extra in order to do the same amount of work we did a few years back. If we can cut this in half – the net effect is, we will add over 30 people.
Lastly, if we all keep everyone engaged and with the company and we can reduce our attrition rate down by 25%, it will have a net effect of 50 more people in the company — not to mention the extra money in people’s pockets, less overtime on jobsites, less stress on lead guys, and all-around increased happiness in an economy when other companies are struggle with much worse problems than us.
Can you help impact these goals as our mission statement states? I love this team and know we can accomplish anything together. We are now the third largest electrical in Denver on our way to become #1! If this team can’t figure these items out, no one can.
God Bless, until next time!