There is strength and then there is STRENGTH.
Building on earlier posts, the Top Shop report also lets us know our strengths compared to all the other applicants AND the other Top Shops.
As such, these strengths are truly KPIs to be celebrated, and ours are in categories that reflect areas we emphasize.
The biggies we are most excited about are:
Customer Retention – We were at 100% YOY. For the other Top Shops the 25th to 75th percentile window was around 96% to 100%. For all other shops that window was 93% to 98%. So while we were not that much higher than others, we puff our chest out because our 100% retention included a customer that had left us years before, and had since returned seeing the error of their ways.
Labor Turnover Rate – Along with keeping customers happy, we are keeping our people engaged and productive. We were one of the best Top Shops for this metric, with the 25th to 75th percentile range being 11% to 26% turnover.
Shop Floor Wages – Perhaps another reason for the turnover metric, the average wage of our people on the shop floor put us in the 92nd percentile. We have been very aggressive for nearly 10 years now, averaging much higher than others in our region. Not because we want to retain people, but because it is the right thing to do. We want our people to have a living wage. There are only a handful shops paying more than we are for good people doing good work.
Annual Sales Growth – Comparing 2020 to 2021 is a little unfair, as the bounce back from COVID is a factor here, but along with new customers and existing customer growth, we were in the 98th percentile for sales growth, and did it very well I might add.
There are other Strengths, but we don’t want to blow our own horn too much. Being a Top Shop three years running says enough right there.
Have an injection molder or, I shudder to think, multiple molders that aren’t Top Shops? Do you run small to medium volumes? Maybe want to order in the thousands but have to over order because your molder doesn’t so smaller runs? Need insert or over molding of same said quantities? If any of the aforementioned are true, give us a call. We can handle adding you to our Top Shop world!