The manufacturing industry is growing in San Luis Potosí, with several American, German, and French companies establishing themselves in the region. These companies have a culture focused on the employee, which has led to the extreme migration of people between companies in both the service sector and the industry itself.
We are facing new generations, such as millennials, and a revolution in the HR sector, as companies find themselves needing to take care of their most important resource—THE PEOPLE. Business owners have realized that their business results are heavily influenced by focusing on the care and development of their employees.
We are also in an era of specialization combined with multiculturalism, making positions more complex and employee retention a significant challenge. As a result, organizations must continually develop retention strategies focused on the specific needs of each employee and their life and career plans.
This situation presents an opportunity rather than a problem. There is a lot of talent that doesn’t want to work in a traditional structure, but rather in organizations that offer mastery, purpose, and autonomy. These organizations have an organizational culture focused on empowering employees and providing an environment that maximizes their talents. If a service company meets these characteristics, it can compete with companies in the industrial sector.
We have the opportunity to look at other business models that are impacting our daily lives and economy. In San Luis Potosí, we’ve been focused on the manufacturing industry, particularly the automotive sector. However, we’re losing sight of the emerging service companies and startup models, such as CLIP (Finance), WEPOW (recruitment software), and KICHINK (e-commerce), as well as fast-growing global players like UBER, AIRBNB, SPOTIFY, and NETFLIX, which complement the activities of the industrial sector and boost the economy.
What Strategy Could Service Companies Implement?
Technological advances are changing our behavior, the way we work, and the economy in general. Therefore, service companies must focus on attracting talent that brings new ideas, performs better in a tech-driven environment, and creates scenarios for innovation. This requires providing employees with the resources they need and offering more than a conventional salary proposal by designing and implementing practices around emotional compensation.
Whether it is an industrial company or a service sector company, if the company focuses on its employees, cares for them, and helps them develop, they will be satisfied, stable, and working at their highest potential.
