A drill press includes a main housing, a base coupled to the main housing, and a drill unit supported by the main housing for relative movement therewith. The base includes a bore formed in a top surface and a magnet to create a magnetic field for magnetically latching the base to a workpiece. The drill press further includes a holding force detection assembly having a plug and a sensor coupled to the plug to detect the magnetic field within the base. The holding force detection assembly is received within the bore formed in the top surface of the base.