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Since the pandemic, engineering and manufacturing companies have encountered numerous challenges. Among the top? A severe skilled labor shortage.
The U.S. Census Bureau estimated about 1.4 million manufacturing jobs were lost during the pandemic. According to a study by the Manufacturing Institute, there will be a projected 2.1 million unfilled jobs by 2030 due to a lack of skilled workers. Similarly, engineering talent is in high demand and in short supply; nearly one in three engineering roles will remain unfilled through 2030.
One solution to overcome this obstacle is upskilling your existing engineering and manufacturing workers. Keep reading to learn more about why you should invest time in training your employees to learn new skills and ensure you meet your objectives despite the shortage of qualified candidates in your network.
To start, upskilling involves teaching your employees new capabilities to enhance their current role, making it an effective strategy to minimize skill gaps in your workforce.
This is especially important in engineering and manufacturing. Over the course of a year, 37% of engineering and manufacturing companies found it difficult to hire, with 37% citing not enough candidates with the right skills were available.
When upskilling your engineering and manufacturing workforce, keep in mind the following in-demand skills.
Top soft skills in engineering and manufacturing:
Top hard skills for manufacturing workers:
Here’s how upskilling your engineering and manufacturing employees can benefit everyone.
As the industry evolves, your workforce should, too, making it more important than ever to reach a healthy level of adaptability. When engineering and manufacturing professionals accept and, better yet, embrace the ever-changing reality, they will be better equipped to navigate unexpected changes and understand new advancements.
For example, in the last couple of years, AI has impacted numerous sectors, including engineering and manufacturing. Our Talent Trends survey revealed 96% of respondents said they are willing to learn more about AI, providing an excellent opportunity to upskill workers who have little to no experience to become familiar with such technology and train them to perform more AI-concentrated responsibilities within your company.
It’s no secret that hiring and training new employees comes at a cost. However, your current employees are likely already aware of what is expected, so teaching them new skills to streamline their role will require less time and money than onboarding someone new.
When it comes to keeping your current employees from joining other organizations, it would be a mistake to underestimate the importance of job satisfaction. Over three quarters (77%) of engineering and manufacturing professionals say job satisfaction is most important when thinking about work, making it wise for companies to monitor their employees’ engagement levels. Upskilling keeps workers feeling challenged and helps retain workers looking to grow in their roles and within your organization.
In a labor shortage, retaining human capital is critical, as estimates show just how costly it is to have a high turnover rate. Another benefit of upskilling your engineering and manufacturing workforce is that employees are much more likely to stay loyal to a company that is committed to helping them develop their skills and advance their careers, eliminating the need to replace them anytime soon.
On the same note, investing in your existing employees will resonate with potential new employees who are looking for their next career-defining opportunity. In an attempt to drive impact and growth, Manufacturing USA has developed a national workforce development roadmap to help workers define their career path in the industry. The first of three priorities is to provide education for professionals to develop advanced skills and find success in manufacturing.
In conversations with prospective workers, be sure to share how your employees have developed new skills as a result of your training and/or development programs.
In an engineering and manufacturing labor shortage, having an experienced recruitment agency in your corner is invaluable. At Michael Page, our specialized recruiters understand the current market and tailor their hiring strategies to help you navigate such challenges and fill your open roles.
For more insights on attaining and retaining talent, download our latest Talent Trends report or browse our advice section. And if you’re ready to start a conversation about your hiring needs, request a call back.
