5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IMP for INTRO

Embed Size (px)

Citation preview

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    1/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A521164861461574176353 1/29

    Are you CEng or IEng? - Apply today for Chartered Manager Status.

    5 Ways To Foster Employee Engagement In The

    Manufacturing Sector

    The Manufacturing sector comprises establishments engaged in the mechanical,

    physical, or chemical transformation of materials, substances, or components

    into new products.

    Like all industry sectors, this sector is focused on finding ways to better manage

    labour costs, while still being flexible enough to respond to changing market place

    and customer requirements. Most manufacturers are seeking cost reductions but

    one of the most important drivers to improve business performance is the

    empowerment and engagement of the front line managers and employees.

    Indeed, employees who are not engaged will affect the organisational

    performance through higher absenteeism, higher turnover and lower

    productivity.

    A simple example of an engaged employee in the manufacturing industry might

    be: at the end of a long and busy day, an employee could choose to use the last

    minutes to either leisurely clean up or rush to make sure that one more shipment

    has been loaded for another on-time delivery. The engaged employee would

    commit that extra energy to do what is best because, he likes working in an

    Following

    https://www.linkedin.com/ngroups/ajax/unfollow_member?followee=347919529&csrfToken=ajax%3A1728454731371093248https://www.linkedin.com/profile/view?id=ABwAABS81KkBQj9q2F1tTRHOkGzv7_cNiFIdrQE&authType=name&authToken=wAvC&trk=pulse-det-athr_prof-art_hdrhttps://www.linkedin.com/profile/view?id=ABwAABS81KkBQj9q2F1tTRHOkGzv7_cNiFIdrQE&authType=name&authToken=wAvC&trk=pulse-det-athr_prof-art_hdrhttps://twitter.com/intent/tweet?&url=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2F5-ways-foster-employee-engagement-manufacturing-sector-bervert&text=%225%20Ways%20To%20Foster%20Employee%20Engagement%20In%20The%20Manufacturing%20Sector%22%20by%20%40MeexyAnna%20on%20%40LinkedInhttps://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2F5-ways-foster-employee-engagement-manufacturing-sector-bervert&t=5%20Ways%20To%20Foster%20Employee%20Engagement%20In%20The%20Manufacturing%20Sectorhttps://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2F5-ways-foster-employee-engagement-manufacturing-sector-berverthttps://www.linkedin.com/csp/cat?v=1&action=click&trk=0_2MZDSRL3TZnOwVljzvjnGEjalIyvsSZHK3X6OhYdjYQ2UcBFAaR_jkb0tLP1U48CL7lr6xvWGePrx7wI9D5LXjEk-cW0vYVWunNgEgWwcDGvaMEILEQCbYhJhHXV3laB-44-m9P_4gxuT7pzQ2zMGpc2Fh_XDyTAF3tQ5SuRC4m4f2pKb35vS53ou1ndl7v_R0VMmEDPbg4BAdDXV9zXJTislou-J-WviUa7m6wW3MoIn7HzJDcldEi35ZXpMhMvqR5Pvb2-tpj7kAxneKF_XdUMsjbjyBIH62sGuP_dqVyJjFNaiTcstCTYt6tFQRfhubqBBdFiY0kXkrfugLFJS4PdT4MldE5RL8n7e17MaNuh5YhDtHMQ-5lsl6Xlj58AFIGsml9dTGTbINZkl9dxq_nEACZrlLnv2sqiZJFHztSGiQe08-7BztuG8VokNE5aHm2nMQwhOhq0t-kBTmRDHGAcy4JbGzzqUDdWLtEzPwbwzlvSSDPY138zyBnILeNwz3fMpuDcUhet---JEbUGrQPjvKhn1M1iseQnHZ4ShwGkJXuFxvUd-LA1QsUUGrgJ9kKVfYl1L2kIAj1h59pf_mcdvCwAo0bk2uxClDKar9urZvdWCObxTzYG1K9L7TztwdZk34r5AhXANAkcdCJZoPLNy39fHFaST32YXV7-YUfaKK2yLZSzUPpjSvk2Z9cNvNS5DzQaeUF5VBjT9BXDySo3c280xINuGlGFdMbqqrG_QHx78WklriOAGiRYVmAUVwcM8w26P5WFmGAT0JFFKHZEp0AWJKZEJluron3ZNjGGI1mKL-VkDQh_v9t1aNyO0943d3kq9ziLU9xUXMBVabziOt5h6v8BcWMvhxmca5v5X5Hl8BTjK8NtJzEMd2Geiq0Jc-4uc0U7N-FjQZTWrLIh9qrjWN5boS0m7ztaY4Vz5EEQDHiL9ymFw3k_gf04bWE3M8q7q4LvS7CpZYF1k8X1gNN82_xB9mwHs7-8a-OyYxOmVr7MtuD2KthELNmKCkh55mIXc5SxDSpbb8QJgWXFhSR3AhHvyG57D0zXDiNvLxHYtKwFus3YPJDlG6qSWntprgyGeQqEuathzaTFpmXHgnYEL4mDYMV75AhicnNXO11T_QCeSfokL_5nsXLsMDIX1NRgBazkclmsCzN8nu9DeWwkyQvfwGoUO3PYs6S5Dxvj_LBsa13zOUbZHX0gMGaWSMkQ7XensfV5kd_vam7nGFtBjdzV5QUW47hFcTdxfAt_cgtZ09hHmmVckpjH_T2QIU5VSKIGx4XFOIsDYfjDk6w8wvHrJDPLJnI7YBtQAtWo5KWu1ra57xKsSi3qkviptCKe8fuQglLESa7BEYz9IL6u2R6COb4PkIZciTgt6Sg3387Yxp2LSz3WpBuorRuBwjBaOr4r99EApXzRzH-AzpUsJcReN5sfx37lpp9el6AUYSTlziv174sX87U15RNoPyGpXRRmJVntl_nKdhhttp://adclick.g.doubleclick.net/pcs/click%253Fxai%253DAKAOjstO5flra9hzYb1m0w55TG85rRHKIXVzyxHc6ZS-oqMOteYe0qLHjbro7utcySTlt0thxH341Qa17oJLVj6ihbTFh7Gct-Uxba4koicE4cEAFf2rSrVmz_SfAfTpr87lI0uknzSjyv1SHXmyhL81eYw_Ugujtr-N%2526sai%253DAMfl-YRuiISmUhOLMRpE6df5g0N10-SdPollzMQs2ti0oR0mcsvSiVwT684zdH4lyld-IX0TjZDyxwnDYw%2526sig%253DCg0ArKJSzGtKs3RnCLZuEAE%2526urlfix%253D1%2526adurl%253Dhttp://nourl.com
  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    2/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A521164861461574176353 2/29

    environment where he feels valued, respected, secure, and safe as well as being

    rewarded for his good job.

    It can be challenging to engage employees in todays manufacturing

    organisations, here are 5 elements that contribute to a highly engaged workforce:

    1) Hiring the right people

    Its essential to hiring employees who fit the job requirements, meaning those

    who have the right skills and the experience but also tap into employees

    identification with the organisation but also passion and commitment for the

    industry. It is important to identify the applicants personal core values and

    ensure that there is an alignment with the companys core values. High job fit is

    achieved by effectively deploying employees' talents when making selection,

    placement and promotion decisions. Selecting employees with strong

    motivational fit for the job will lead the company to higher level of productivity,

    quality, attendance and retention.

    2) Engaging from the top

    Another key element that contributes to a highly engaged workforce is the quality

    of management. Engaged leadership is vital in the manufacturing industry,

    leaders need to own and live the organisations values to encourage employees to

    hold them too and they also need to have the right skills to lead with influence,not with control. Engaged leaders understand that their role is not to take charge

    of all the decisions, but to be more like proactive coaches. They are able to inspire

    others to share in their vision and purpose and influence them to join the

    movement. They have tremendous influence over employees by enrolling them in

    the business vision and delivering compelling and persuasive communications.

    3) Empowering employees

    Employees need to understand the vital role they have in working in the

    manufacturing sector and why it is critical to future success. They must have clear

    goals and know how they fit with the Companys bottom line to assimilate how

    their inputs are related to the wider corporate picture. Creating and maintaining a

    positive workplace culture based on openness, empowerment, integrity, trust,

    collaboration and passion is undoubtedly among the biggest factors in enhancing

    employee engagement in the industry. Indeed, by being transparent on the

    evolution of established company goals, employees will show willingness coming

    up with new ideas and initiatives. Besides, they will feel empower because they

    have decision-making power in what they are doing. Give your employees a voice

    and listen to what they say and let them the chance to give genuine feedback on

    performance.

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    3/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A521164861461574176353 3/29

    Written by

    4) Communicating internally, the cornerstone

    Strong employee communications connects employees to the leaders vision and

    company strategy. A culture of employee engagement only happens when

    employees share and believe in the same vision, values, and objectives as the

    leader and behave in a consistent manner with those beliefs. In addition having

    an open and honest communication from leaders to employees, it is appropriateto set up communications channels to ensure employees are well informed. A

    good way to make information accessible in the manufacturing company is

    installing touch screen kiosks in the workplace. Other channels to consider are

    regular team meetings, frequent briefing sessions following by focus groups to

    ensure messages have been effectively understood, employees bulletins and

    newsletters displayed on the touch screen kiosks. Finally, regular Employee

    satisfaction surveys provide information on employees job engagement and

    company commitment, as well as giving them the opportunity to make

    confidential comments.

    5) Recognising and personal growth

    Outperform your employees by investing in specific training such as job training,

    seminars, courses or further education that relate to the companys strategy. Give

    employees opportunities to grow to successfully achieve company-wide goals.

    Managers and leaderships also need training and development to be educated on

    the company values and strategy. For new hires, development programme willensure that the values are applied in their daily work. To keep maintaining a

    positive workplace culture, recognition and rewards are great motivators. When

    an employee comes up with a new way of doing a job or an innovative idea to

    enhance the workplace productivity, ensure that is properly rewarded. Most

    importantly, ensure the reward is given publically so others can see that kind of

    behaviour is appreciated and recognised by the company.

    Following

    Like Comment

    Be the first to comment and start the conversation!

    Home Profile My Network Jobs Interests Business Services Try Premium for free

    Advanced 999+

    3

    Search for people, jobs, companies, and more...

    http://-/?-https://www.linkedin.com/profile/view?id=AAIAAAMbPAYBa3FBsXwLOt6KYCikWvqxMUd_Zwk&trk=nav_responsive_tab_profile_pichttps://www.linkedin.com/people/pymk/hub?ref=global-nav&trk=nav_utilities_add_connxhttps://www.linkedin.com/messaging/?trk=nav_utilities_inboxhttps://www.linkedin.com/?trk=nav_logohttps://www.linkedin.com/vsearch/f?adv=true&trk=federated_advshttps://www.linkedin.com/premium/products?trk=nav_responsive_sub_nav_upgradehttps://www.linkedin.com/job/home?trk=nav_responsive_sub_nav_jobshttps://www.linkedin.com/profile/view?id=AAIAAAMbPAYBa3FBsXwLOt6KYCikWvqxMUd_Zwk&trk=nav_responsive_tab_profilehttps://www.linkedin.com/home?trk=nav_responsive_tab_homehttps://www.linkedin.com/today/post/author/createArticle?trk=pulse-write-hdr_btnhttps://www.linkedin.com/today/https://www.linkedin.com/today/social/likes?articleId=8655255322273301693&trk=today-cmnt2-see-allhttps://www.linkedin.com/today/article?articleId=8655255322273301693&trk=tod2-sachttps://www.linkedin.com/today/article?articleId=8655255322273301693&redirectArticleId=8655255322273301693&trk=today-cmnt2-like-no-jshttps://www.linkedin.com/ngroups/ajax/unfollow_member?followee=347919529&csrfToken=ajax%3A1728454731371093248https://www.linkedin.com/profile/view?id=ABwAABS81KkBQj9q2F1tTRHOkGzv7_cNiFIdrQE&authType=name&authToken=wAvC&trk=pulse-det-athr_prof-art_ftrhttps://www.linkedin.com/topic/internal-communications?trk=puls-tgging-dxter-rdirecthttps://www.linkedin.com/topic/manufacturing?trk=puls-tgging-dxter-rdirecthttps://www.linkedin.com/topic/employee-engagement?trk=puls-tgging-dxter-rdirecthttps://www.linkedin.com/today/article?articleId=8655255322273301693&trk=tod2-sachttps://twitter.com/intent/tweet?&url=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2F5-ways-foster-employee-engagement-manufacturing-sector-berverthttps://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2F5-ways-foster-employee-engagement-manufacturing-sector-bervert&t=5%20Ways%20To%20Foster%20Employee%20Engagement%20In%20The%20Manufacturing%20Sectorhttps://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2F5-ways-foster-employee-engagement-manufacturing-sector-berverthttps://www.linkedin.com/profile/view?id=ABwAABS81KkBQj9q2F1tTRHOkGzv7_cNiFIdrQE&authType=name&authToken=wAvC&trk=pulse-det-athr_prof-art_ftrhttps://www.linkedin.com/today/social/flag-article-form?contentUrn=urn%3Ali%3AlinkedInArticle%3A5985851271020572672&articleType=author
  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    4/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A521164861461574176353 4/29

    How to use data science to grow your

    restaurant/cafe business ?

    Ideal time for applying and Data science to Restaurant Businesses: The

    restaurant business in India, nay, the entire world has been a happy hunting

    ground for many entrepreneurs, big or small. The sector is still seeing high

    growth and a huge amount of investments, with new chains opening at a rapid

    pace. For some of the older players though, the time has come to consolidate their

    businesses and/or expand. This requires systematic management and oversight

    to ensure a smooth transition so that the basic fundamentals on which their

    businesses have been built is not scarified at the altar of growth. This is the idealtime for embedding Analytics into their everyday business processes.

    How can Analytics increase revenues? The question that most Restaurant

    owners would ask is how Analytics is going to positively impact their revenues.

    There are many indirect ways in which Analytics can help restaurants make more

    money, but for the purpose of this discussion, we will concentrate only on the

    direct ones :-

    A- Helps you understand your customers

    Customizing offers for different parts of the day is an effective differentiating

    strategy. Customers need to be led to believe that they should order certain kinds

    of meals at certain times of the day, even though you maybe having an all time

    favourite meal- like the English Breakfast running all day.

    Running a business is also about conserving costs- when your data reveals that

    your restaurant is not doing business at all, at either the early hours of the

    opening or closer to your closing hours, you should think of changing the timings

    this will reduce your electricity costs, reduce fatigue of employees etc.

    Follow

    https://www.linkedin.com/ngroups/ajax/follow_member?followee=11405899&csrfToken=ajax%3A1728454731371093248https://www.linkedin.com/in/snehamoy-mukherjee-7779a03?trk=pulse-det-athr_prof-art_hdrhttps://www.linkedin.com/in/snehamoy-mukherjee-7779a03?trk=pulse-det-athr_prof-art_hdrhttps://twitter.com/intent/tweet?&url=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2Fhow-use-data-science-grow-your-restaurantcafe-snehamoy-mukherjee&text=%22How%20to%20use%20data%20science%20to%20grow%20your%20restaurant%2Fcafe%20business%20%3F%22%20by%20%40snehamoym%20on%20%40LinkedInhttps://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2Fhow-use-data-science-grow-your-restaurantcafe-snehamoy-mukherjee&t=How%20to%20use%20data%20science%20to%20grow%20your%20restaurant%2Fcafe%20business%20%3Fhttps://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2Fhow-use-data-science-grow-your-restaurantcafe-snehamoy-mukherjee&summary=Ideal%20time%20for%20applying%20and%20Data%20science%C2%A0to%20Restaurant%20Businesses%3A%20The%20restaurant%20business%20in%20India%2C%20nay%2C%20the%20entire%20world%20has%20been%20a%20happy%20hunting%20ground%20for%20many%20entrepreneurs%2C%20big%20or%20small.%20The
  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    5/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A521164861461574176353 5/29

    B- Increase the share of wallet of existing customers Where is the

    Loyalty Strategy?

    C- Removing slow moving items from your menu -When you have a long

    menu card, it is important to analyze what people are consuming and what they

    are not

    D- Pricing Strategy

    E-Menu Mix solution-Which items bought together contribute to maximum

    sales? Create combinations of such items and offer discounts to drive up sales and

    productivity.

    Let us now look at the above mentioned aspects in greater detail.

    A- Understand your customers

    The most important aspect of any business is the ability to understand your

    customers. If you know your customers well, what they buy, when they buy, how

    they buy etc., half your job is done. When your business is small and your

    clientele is limited, it is easy to remember your customers at a personal level,

    often knowing what their favourite orders are. But, when your organization gains

    scale and it is difficult to even recognize them by face it is important not to lose

    track of that very attribute which helped you establish your business in the first

    place - your ability to understand your customers ! When you have more than one

    restaurant, the job becomes even more difficult. That is why you need to harness

    the power of data. But before you do that, you must devise mechanisms to collect

    the data on your customers. If you do not have a mechanism to collect data that

    identifies your repeat customers- dont lose heart. You can still do a lot by

    analyzing the POS(Point of Sale) data.

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    6/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A521164861461574176353 6/29

    Understand Customer Behaviour

    Understanding customer behaviour is a good proxy to understanding your

    customers. When you have hundreds of thousands of customers, ordering

    different items from your menu cards, it becomes imperative for you to look at

    groups of customers to understand their consumption behaviour. The data from

    your POS systems can be analyzed to come up with segments based on differentkinds of consumption behaviour of people. One of the most popular

    segmentations used in Analytics in restaurant businesses is the Trip

    Segmentation.

    Here is a hypothetical example of what different kinds of trip segments that can

    be there in a restaurant business and how they can be used with tremendous

    impact on the business.

    In the above example one is able to analyze the data and come up with these

    segments which split the population into meaningful segments. Once, the

    segments have been identified and profiled, the next step is to devise strategies to

    tap each of the segments for increasing revenues.

    Let us pick up one segment for furthering our discussion on this: The Solo Trip

    Segment. This segment provides opportunity for increasing sales with a bundled

    offering. This can be done by identifying the most popular combinations that are

    ordered by the rest of the segments along with the most popular items being

    ordered by the this segment. The next step is to come up with a promotion,

    offering couple of items together as a bundle/combo. This will help increase sales

    and coax the solo item buyers to order another popular item from the menu.

    Distribution of segments throughout the day By plotting the segments

    across various times of the day, you may be surprised to find that the penetration

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    7/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A521164861461574176353 7/29

    of certain kinds of segments maybe more in certain day parts than in others. This

    provides a great opportunity for differentiated offering/promotions in different

    day parts, depending on the kind of customers coming to your store. It will also

    help in kitchen management better, because you would be aware of what kind of

    orders to expect at different day parts.

    In the above hypothetical example, the occurrence of solo trips is maximum

    between 15:00 to 18:00 hours and is the perfect time for the restaurant to

    promote combo offers with the most popularly sold solo items.

    Dashboards: Measuring your business real time

    We may have all heard about the popularity of management dashboards and

    maybe wondering what use they might have in the running of restaurants. On the

    contrary, a dashboard for a restaurant is one of the most powerful tools that an

    owner of a restaurant can have. The Management dashboard for the owner/top

    management of a restaurant chain will help him get an immediate snapshot view

    of the business in real time. Some of the very useful metrices would be:

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    8/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A521164861461574176353 8/29

    An example of a dashboard

    Loyalty Strategy

    For a business with a very high probability of repeat customers, it is interesting to

    note that very few restaurant businesses in India have a loyalty strategy in place.

    Having a loyalty strategy doesnt mean implementing a cash heavy loyalty

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    9/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A521164861461574176353 9/29

    program, replete with plastic cards and heavy discounting.

    A loyalty strategy means:

    Pricing Strategy

    It is important to carry out a well thought out pricing strategy in your chain. You

    should increase prices, but in a very strategic manner and by measuring the

    impact of the price changes. There are two phases of the pricing strategy which

    are critical. One is the pre-increase period when you determine the products for

    which you are going to change prices and the other is the post price change period

    where you need to measure the impact of the price changes on the customerbuying behaviour.

    Activities:

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    10/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 10/29

    Identifying menu items for which price should decrease

    Identifying menu items for which price should increase

    Identifying menu items for which price should not be changed

    The simple diagram above exemplifies how changes in price have affected

    changes in revenue.

    The gist of the learning from the above is as below:

    Menu Mix Solution:

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    11/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 11/29

    Written by

    The famous observation that beer bottles and nappies when kept adjacent to each

    other, led to increased sales in retail stores, introduced a new concept of product

    bundling/adjacency to the world of Retail. In the business of restaurants, the

    closest corollary is that of menu mix.

    When you find meals consisting of burgers, fries and coke are being served to

    you at discounted price, doesnt mean that McDonalds is trying to push coke intoyour menu. It means that they are being customer first and have observed that

    this one of the most popular combinations that people usually order and they

    have institutionalized it for the benefit of customers, efficient customer service

    (you save time instead of ordering individual items) and above all it drives

    revenue as customers see an inherent value in the meals as they get something

    else at a lower price than what they would otherwise have to pay.

    Similarly in restaurants, menu mix should be analyzed and the most popular

    meals should be bundled together and offered to customers at a lower price to

    incentivize them to buy their favourite meals. This will increase loyalty of

    customers to the restaurant, apart from driving more repeat visits from the

    customers who would like to come back for their favourite meals at reduced

    prices. The menu mix should only be done for the most popular meals and there

    should only be a few combos on offer, else it will become complicated and make

    the customers confused

    Conclusion :

    There is a big opportunity waiting to be utilized by the more entrepreneurial and

    innovative restaurant owners. Whoever takes the lead will win. Soon, there will be

    no other option but to innovate and devise strategies, keeping the customer at the

    heart of all your decision making. The rate at which this space is growing, it will

    be difficult for laggards to survive. Analytics provides the only solution to ensure

    scalability, efficiency, keys to customer satisfaction and above all, increased

    revenues.

    Follow

    https://www.linkedin.com/ngroups/ajax/follow_member?followee=11405899&csrfToken=ajax%3A1728454731371093248https://www.linkedin.com/in/snehamoy-mukherjee-7779a03?trk=pulse-det-athr_prof-art_ftrhttps://www.linkedin.com/topic/restaurant-management?trk=puls-tgging-dxter-rdirecthttps://www.linkedin.com/topic/data-science?trk=puls-tgging-dxter-rdirecthttps://www.linkedin.com/topic/analytics?trk=puls-tgging-dxter-rdirecthttp://www.linkedin.com/pulse/channel/sales_strategieshttp://www.linkedin.com/pulse/channel/indiahttps://www.linkedin.com/in/snehamoy-mukherjee-7779a03?trk=pulse-det-athr_prof-art_ftrhttps://www.linkedin.com/today/social/flag-article-form?contentUrn=urn%3Ali%3AlinkedInArticle%3A6129281346717175809&articleType=author
  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    12/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 12/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    13/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 13/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    14/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 14/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    15/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 15/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    16/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 16/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    17/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 17/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    18/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 18/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    19/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 19/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    20/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 20/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    21/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 21/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    22/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 22/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    23/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 23/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    24/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 24/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    25/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 25/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    26/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 26/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    27/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 27/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    28/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn

    https://www.linkedin.com/pulse/5-ways-foster -employee-engagement-m anufacturing-sector- bervert?trkInfo=VSRPsearchId%3A52116486146157417635 28/29

  • 7/26/2019 5 Ways to Foster Employee Engagement in the Manufacturing Sector _ Annabelle Bervert _ LinkedIn_ANOTHER IM

    29/29

    25/04/2016 5 Ways To Foster Employee Engagement In The Manufacturing Sector | Annabelle Bervert | LinkedIn