Most CEOs will tell you that good workers are the key to a good business, but they are hard to find. This is especially the case with the manufacturing industry.
According to government labor statistics, the manufacturing sector has added more than 730,000 jobs since the end of 2010 and expects to create several hundred thousand additional jobs by the end of the decade, according to industry analysts.
Additionally, according to the 2015 survey by the Manufacturing Institute and Deloitte, over the next 10 years, the United States will need to fill 3.5 million manufacturing jobs, and approximately 2 million of those jobs are likely to go unfilled due to lack of skilled employees. The survey also shows that only 37% of parents would encourage their children to pursue careers in manufacturing, and 52% of teens say they have no interest in manufacturing jobs.
There are several ways to help narrow this gap in the future, including apprenticeships, student shop tours, community outreach and increased social media usage. However, we all need to assist in dispelling the negative stereotypes about manufacturing jobs being dirty, low-paying, remedial jobs. Manufacturing careers can be excellent, rewarding careers that are vital to overall economic growth. With technological advancements and the new digital manufacturing age, many of the manufacturing jobs these days require some post-secondary training and significant problem-solving skills. The facts are that the manufacturing industry needs a larger pipeline of good workers.
The question is what does the future hold for your workforce, and how is your company going to help close this gap? Let us know!
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Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.