How does it feel to be part of the only independent manufacturer of composite wind blades for the wind energy market? Exhilarating, engaging and extremely satisfying, all at the same time. We’re the future of renewable, sustainable energy. We’re on the cutting edge of our industry. And we’re growing at a rapid pace. There could not be a better time to join our team and help us shape the future.
Our culture is a strategic differentiator for us largely because of our highly engaged workforce. It is through our associates’ efforts that we have been able to grow our net sales at a 23% CAGR since 2016 and continue to achieve high levels of performance. Our wind blade manufacturing process is more manual than most people may realize. The products we manufacture are large and weigh 15 metric tons, on average, and our associates manage most parts of the process by hand.
Our associates embrace our Core Values of Safety, Operational Excellence, Commitment, Integrity and Leadership. They have brought our values to life by applying their diverse backgrounds and skillsets to everyday actions and demonstrating high discretionary effort.
We have an incredible opportunity to benefit from our diversity and to advance the positive impact that diversity and inclusion can bring. We value diversity in all forms, especially diversity of thought, and aspire to create an environment that recognizes and celebrates the benefits that come with a diverse workforce. We know that diversity of our associate population makes us better and strive to continue to improve in these areas. Without our associates, our vision to accelerate decarbonization of the electric sector by manufacturing competitive and innovative composite solutions could not be realized.
TPI supports and cultivates a culture of high engagement. We conduct surveys to determine the level of engagement among our associates. Engagement is important because it helps us determine the level of psychological investment that our associates have in TPI and their motivations to contribute to our success. Our most recent engagement results from 2019 were an overall associate engagement level of 81. This is a four-point increase from the 2017 survey, twenty points over the manufacturing norm and three points shy of the global extraordinary norm.1
The level of participation in our most recent survey was 94%, which also tells us that our associates are willing to share their feedback. High levels of engagement result in higher levels of performance overall, which helps us obtain our desired results. The engagement surveys are administered by an independent third party and the results are shared directly with senior management, and with each region and functional area. Upon receiving the results, each team develops an action plan that focuses on key areas to sustain and improve. In addition to the team plans, we also maintain an action plan focused on the top items at the overall company level to sustain and improve. These plans are reviewed monthly and all teams are held accountable for taking actions to improve the overall associate experience.
We have strong regional human resources teams and external partners that ensure that we are compliant with all current labor standards. We have provided training to all levels of leadership to foster positive labor relations and develop action plans to address changes as needed.
1 Overall engagement scores and benchmarks are identified by an independent third party.