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Steel Industry Insights: Issue #2 -Three Shared Traits of Successful Steel Businesses

Updated: Aug 24, 2023



Here at Pack 6 we take our responsibility as a steel provider very seriously. We consistently present great opportunities in procuring steel at values that enhance your bottom line on a regular basis. Through interviews with experienced and accomplished leaders in the construction and fabrication industry, we have learned a few simple business concepts that will undoubtedly bring improvements to your bottom line. Today we focus on culture and tools to maximize employee potential.


First, we’ll look at a Culture of Positive Engagement. Remember that a corporate culture is not defined as either good or bad. A culture of positive engagement is created intentionally through consistent behavior demonstrated at every level of your organization. Gradually every member of the organization becomes confident in their understanding of the common direction and goals. When managers and owners lead by example, decisions are made at every level that are in sync with the whole. This cohesive approach to business will develop true accountability amongst the team that is not threatening or debilitating. Individuals and teams naturally understand and accept their responsibilities. Today, more than ever metal fabricators face challenges in labor shortage, the American Welding Society estimates a 400,000-worker shortage by 2024. It is essential for fabrication businesses to create a culture of positivity that employees want to be a part of. The companies that can do this will have opportunities to enhance their business and rise to the top of their respective industries.


An expected byproduct of positive engagement will be a sense of Empowerment. We expect our employees to embrace the corporate culture. This begins with being in tune through the hiring process and gaining a deeper understanding of individuals’ needs. By knowing what drives and what scares our team members we can better design appropriate training and programs that keep them engaged and growing. According to Harvard Business Review, allowing your employees to develop expertise in a specific area of focus will increase production in the long-run by as much as 17%. The Idea that employees can be the leader and owner of a function of the business will create a sense of pride. Additionally, a critical component of developing talent is having experienced team members in positions to recognize and support rising talent. This recognition is realized through visibility up and down through the entire organization. The universal support developed in your organization will motivate advancement of each employee and mitigate the risk of losing employees.

Within your empowering culture it is essential that you have Adaptive Project Management. Adaptive project management is an approach that prioritizes learning from previous outcomes and decisions to improve future practices. This begins with establishing a well-defined workflow process. It may seem contradictory to state a need to be adaptive and immediately follow by saying you need a well-defined process. The structure in your processes combined with an understanding of corporate culture will empower your project managers to make adjustments in project-specific circumstances that require flexibility to best serve the needs of the rest of the project team. Utilizing affordable project management software such as Monday.com or Asana can streamline the practice of adaptive project management. These software programs create efficient communication modes, delegate ownership of tasks and curate information that will ultimately allow employees to learn and become stronger more confident project managers.

These concepts are more than feel good ideas or buzz words of the day. They are ways of thinking, acting, and living. When adhered to at every level of your management team, they most certainly will trickle into every level of your organization. With a consistent culture that promotes unity and positivity everyone is enabled to soar. You will attract employees, customers and vendors that possess like-minded values and principles and will realize heights together previously thought unreachable.


We at Pack 6 have had the privilege of working with a multitude of fabrication businesses on the aforementioned principles and tactics. We have learned specific programs that unlock human potential and strive to continue to support fabricators across the country. If your fabrication business would like to learn more about our shared experiences and programs, contact us today for a free consultation. To reach us please email info@pack6group.com or call us a 708.625.4516.


About Co-Author Jim Law : Jim has served in the steel industry for decades many of those years in leadership positions. He has covered an array of topics from procurement, project management and even Human Resources. Today he consults with leading fabricators to streamline business practices.


Phone: 708.625.4516


 

Pack 6 Group is a procurer of raw steel and an industry consultant and risk manager.


The Pack 6 “Steel Industry Insights Series” is a content series released by Pack 6 Group on a monthly basis. The information contained in this series (and the constituent “issues”) is purely a work of opinion and is intended solely as an informational document for public readership. The work in this series does not represent a declaration or formal acknowledgement of Pack 6’s business positions, plans, or intended course of action.


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