At the end of its second year of operation, the employee Productivity Share Scheme at KMF (Precision Sheet Metal) continues to deliver performance boosting ideas that benefit employees, the business and, of course, its customers.
With this scheme, KMF has broken the mould by inviting employees to participate in ways of improving the performance of the business, by generating suggestions by which processes can be enhanced.
The difference is the level of involvement of each participant, whereby they have to work individually, or as teams to formalise targets, quantify the benefits, ensure that they are all delivered, and of course generate results.
These activities have made savings of over £250,000 through a mix of process improvement and improved resource utilisation.
The savings are pooled and shared with successful scheme entrants resulting in a payment of £602 per employee.
The balance of the savings is returned to the business to assist ongoing investment in new technology and systems.
"The Productivity Share scheme has been a resounding success for all concerned," says Gareth Higgins, KMF's Managing Director.
"From the outset, we have had some incredible participation from our employees and savings have been made across the board that will have a positive impact on the performance of the business. Customers will see improvements through changes to processes and the fact that we will be able to add to the investments we had already planned."