Workers state that it feels much more like a family rather than a group of co-workers. 42% of employees have been with the company for 10 years or more.
As part of NJMEP‘s New Jersey Manufacturing Awards, Compass Wire named Manufacturer of the Year: Medium (between 51 and 250)
After a recently conducted stay interview with their employees the company found that most employees feel engaged. Workers made mention that this is due to the friendly atmosphere and stated it feels much more like a family rather than a group of co-workers. 42% of their employees have been with the company for 10 years or more.
Compass Wire is a Lean manufacturing company and is ISO 9001:2015 certified. This has helped them in meeting 98% of all purchase order requirements.
Turnaround time can be anywhere between 2 or 3 days where their competition can only promise a 2-3 weeks. This is able to be achieved because turnaround time has been made a priority. Many of their customers come to Compass Wire because they were unsatisfied with a competitor and when Compass Wire is able to turnaround their order in 2-3 days, they capture this client and begin a strong relationship.
Their fabrication shop is made up of individuals with many years of experience. These fabricators can convert a sketch or blueprint into reality and only need a relatively short amount of time.
A new ERP system has just been implemented. This new system is able to track efficiency and waste in ways that were never before possible. New machines have been added to the production process. Specifically, a heat bar is now used and it was found that it is able to cut production time down by 75% for some products. This has more than doubled their capacity. The new equipment has made them faster and more efficient. A third shift has been added, further increasing their capacity.
An employee engagement survey is conducted every 2 or 3 years. The work is labor intensive so they want to make sure all employees are being engaged. Their philosophy is “Pay for Performance and Train, Train, Train.” Both the shop and office employees undergo training each year. Between all 70 employees, 68 hours of training must take place each month. Cross-training is also a critical aspect of this training focus.
Management believes in sharing the wealth. There are quarterly performance bonuses, profit sharing opportunities, a Christmas bonus, and Christmas in July bonus. Goals are set by management and these trickle down to every level of the workforce. As these goals are handed down, they are turned into tactical plans so everyone has a plan and knows what they must do in order to achieve these goals. A 5 year plan has been developed and they work with outside consultants to ensure this plan is aligned for future years.
