Many companies track their metrics to see how they are doing and where they need to improve. However, I rarely see companies actually share that data. I have two guesses why that might be:
- They don’t actually track anything, so they don’t really know their metrics.
- The metrics are not very good and they simply don’t want anyone to know the truth.
At Staub Manufacturing Solutions we are happy (even excited) to share our metrics.
We track a lot of important things, but there are two areas we consider to be critical – Quality Yield and Employee Turnover. We know that our customers count on us to consistently deliver high-quality parts and doing that is almost impossible without having a stable team.
Here are our 2023 results for those key areas:
- External Quality Yield: 99.87 % (This is an improvement from the 2022 yield of 99.85%)
- Employee Turnover Rate: 3.0 % (This is the same as our low 2022 rate)
It is a testament to the hard work of our great team, who focus every day on doing the right thing, that we are able to achieve and maintain these far-above-average results.
I haven’t been able to find a published average for Quality Yield for fabrication companies, but based on the feedback we’ve received from our OEM/Tier 1 customers, it’s likely below 90%. And according to this article from the TWI Institute (citing the Bureau of Labor Statistics), the average rate of manufacturing Employee Turnover is currently 39.9%. Wow! I imagine that it would be almost impossible to maintain consistent quality with that level of churn.
If you’ve been stuck working with an “average” fabrication supplier, let’s talk. I’m happy to discuss our performance metrics and other aspects of our operation. You can reach me at firstname.lastname@example.org.
Steve Staub | President
Staub Manufacturing Solutions