Upskilling Current Workers to Address Skill Shortages
A shortage of skilled workers to fill current vacancies and the growing skills gap in the manufacturing workforce is becoming one of the most pressing problems facing manufacturers. Whether it is a new product, increased sales, or more innovative equipment, employers are seeking talent for the changing manufacturing landscape.
Finding a pool of potential candidates with the necessary knowledge and skills can be a daunting task. Employers frequently voice their frustration and dissatisfaction with the caliber of individuals seeking manufacturing positions. Finding individuals who can quickly master the needed skills and who fit into the company’s culture can be frustrating.
Upskilling current workers is one strategy that companies are starting to consider as a way to get the needed qualified workforce. Incumbent worker training, whether delivered at the company or at an educational institution, can be the short-term solution. Current employees have already demonstrated their ability to do the work and fit into the company’s culture. Providing them an opportunity for training is often a welcome benefit that can lead to promotions and employee retention.
Partnering with a local community college or university can provide easy access to quality instruction that can be adapted to meet the company’s needs. Participating in company sponsored training can motivate employees to continue their education and pursue additional credentials or degrees.
MAGNET: the Manufacturing Advocacy and Growth Network works with companies to assess their talent needs, identify their skill gaps, and develop a plan to address current and future workforce needs. As a workforce intermediary, MAGNET helps companies connect with educational partners and identify the knowledge and skills needed. The content and delivery format can be adapted to fit the company’s schedule.
By upskilling current workers, employers have a confidence level about their employees’ ability to meet the company’s production demands. Once training is completed and individuals are promoted, employers can seek candidates ready for the On-the-Job training needed to fill the positions vacated by advancing incumbent workers.
Article submitted by Bank of America For mid-market companies, business success and responsible growth aren’t mutually exclusive. In fact, prioritizing responsible growth is becoming increasingly important, and successful companies are making sustainability central to their growth strategies. Beyond good corporate citizenship, they are recognizing the intrinsic link between the strength of their business and that of the communities and economies in which they operate. Leading your growth with those goals in mind builds resilience and better solutions for the future. Consider the following: Responsible growth companies perform better. Companies that consider the impact of risks and opportunities on the environment, local communities and society may produce better financial results than those that don’t. Additionally, 90% of companies believe a sustainability plan is important for remaining competitive. Responsible growth companies attract investment. A 2016 study by MIT Sloan Management Review and Boston Consulting Group surveyed 3,000 executives and managers from more than 100 countries. Findings revealed that 75% of senior executives in investment firms agree that a company’s sustainability performance is materially important to their investment decisions, and nearly half would not invest in a company with a poor sustainability record. Ninety percent of executives see sustainability as important, but only
HEADLINE The survey definitively shows that product innovation leads to more growth, while “grow your own workforce” strategies will be needed to fill the major labor shortages hampering small manufacturer growth. Emerging technologies like the Internet of Things (IoT), 3D printing, and digital manufacturing are beginning to enhance innovation and productivity, but still have significant room for adoption amongst Ohio’s small manufacturing businesses. ABOUT THE SURVEY Under the direction of the Ohio Manufacturing Extension Partnership (Ohio MEP), MAGNET: The Manufacturing Advocacy and Growth Network conducted a thorough survey of Ohio’s manufacturing base. Contributing approximately 20% of Ohio’s jobs (and driving in some regions up to 50% of Ohio’s economy), and generating a disproportionate amount of export revenues and Gross Regional Product, manufacturing is critical to Ohio. Greater than 95% of Ohio’s manufacturers are small (under 500 employees), and these manufacturers need to remain competitive both nationally and internationally to ensure our economy’s health. Ohio’s Development Services Agency and the National Institute of Standards and Technology, which runs the MEP, recognizes the importance of this sector and fuels MAGNET and the Ohio MEP program to directly serve and support innovation, efficiency, and growth in small and medium manufacturers. What manufacturers need
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