The supply-chain industry will need to fill about 1.4 million new jobs in the five years ending in 2018, according to a study by the logistics trade group MHI. This number could grow beyond that year as baby boomers surge toward retirement age.
Even worse, many companies up and down the supply chain aren’t ready for this result. In fact, 79% of executives of third-party logistics firms said they are unprepared for the labor shortage’s impact on their supply chain, according to the new, 20th annual Third-Party Logistics Study by Capgemini Consulting and Penn State University. Yet 53% of shippers believe they can rely on their third-party logistics providers to address the labor shortage’s effect on their business.
“The employee skill sets and traits that logistics companies need are shifting as new technologies and distribution approaches transform the industry,” said Neil Collins, global leader of logistics, distribution and transportation for executive search firm Korn Ferry. “Simultaneously, wage issues and job alternatives that didn’t exist a few years ago have increased competition for talent.”
Collins believes that, for many companies in the supply chain, addressing the talent shortage “means a fundamental shift in how they recruit today’s workforce for tomorrow’s needs. A strong work culture and stand-out training will be key, while creating opportunities to work across departments or regions will help employers attract and develop an agile, adaptable workforce.”
Here are 6 ways supply-chain CEOs are tackling the talent shortage.
Supply-chain CEOs face a stiff challenge in ensuring that they attract and retain enough talent to get the job done. But their task is helped by the very real fact of how vital these jobs are, and by the great employment opportunities they offer.
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