There is a growing talent shortage, and U.S. manufacturers could face a shortfall affecting over 2 million jobs by 2025, according to a Deloitte / The Manufacturing Institute study. Those shortages will be especially significant when it comes to technical talent.
Part of the problem, of course, is the wave of Baby Boomer retirements over the next decade, which will add up to about 2.7 million manufacturing employees. At the same time, manufacturers often struggle to attract Millennial workers, because the industry does not have a positive image among many of those younger workers.
As many CEOs pointed out, if manufacturing companies are to contend successfully with the talent shortage, they need to be creative in the way they recruit, develop and retain people.
The Chief Executive Network (CEN) holds peer group meetings throughout the year for CEOs who are in the same industry and run comparably sized firms.
In a recent meeting of manufacturing CEOs, members agreed that recruiting technical talent is one of the key priorities for their companies. CEN has published propriety research on this challenge, as well as on other top challenges manufacturing CEOs are continuing to face.
Download this complimentary report now to learn how manufacturing CEOs are tackling the challenge of recruiting technical talent. Strategy points in the report include:
- Approaching recruiting with a supply-chain mindset
- Develop a targeted “employee value proposition”
- Rethink recruiting and development for a Millennial audience
- Leverage existing technical talent
- Encourage pre-college students to explore engineering
- And more…
You will receive the specific advice, actions and day-to-day approaches other CEOs are taking to mitigate this risk.