Millenials & The Manufacturing Industry
Manufacturing is in a difficult situation. In the United States, this sector is one of the most critical, with a multiplier of 1.40x for every dollar spent, according to the National Association of Manufacturers, but it has a severe issue with its public image. Despite the fact that it has seen a huge rise since the national economic collapse a few years ago, it still has one of the highest skills gaps of any industry. What do you think is the most difficult problem? Retaining Millennials in manufacturing
The Deficit in Manufacturing Expertise
The manufacturing industry has improved enormously since the recession of the past decade. An increasing number of manufacturing-related products and services have necessitated a surge in the number of workers needed in the United States. The problem is that that demand is not being satisfied.
Over the next decade, an estimated 3.5 million manufacturing positions will need to be filled, but according to research, a whopping 1.9 million of them will go unfilled as the difficulty of finding skilled workers continues to rise. What’s the reason for the void? The retirement of the Baby Boomers is one of the few significant causes. According to some estimates, there are 10,000 Baby Boomers set to leave the workforce every day, causing a serious skills shortage for many businesses.
Even more challenging is that Millennials aren’t driven to take up the roles that Baby Boomers are retiring from. Millennials, according to a new Deloitte poll, consider manufacturing to be one of the dirtiest and most risky professions. Even though the average wage for skilled manufacturing occupations is above the national average of $79,553, few parents are encouraging their children to start studying the skills needed to fill the gap.
Millennials and the Manufacturing Industry: How to Make It Work
52% of teens, according to the aforementioned Deloitte research, don’t want to go into manufacturing as a job. The question then becomes, how can we persuade them to alter their thoughts and join the sector in order to help meet the rising manufacturing skills shortage?
There is, of course, no simple overnight answer to this problem. A higher income isn’t enough to draw Millennials to the manufacturing profession, because skilled manufacturing earnings are already high.
As a result, many experts feel that it will need a concentrated effort that includes both a revamped educational infrastructure centered on STEM skills and a reinvigorated employer branding push by individual manufacturing enterprises. An increasing number of organizations and publications have emerged in the sector to help support these efforts, as well.
Let’s take a closer look at how much of a role schooling plays. More and more low-skilled industrial employment has been mechanized over the years, while high-tech techniques like 3D printing and complex analytics have been adopted. Manufacturing jobs rely heavily on the skills that may be taught at postsecondary institutions, and even high schools in some circumstances. The best way to attract and retain Millennials in the manufacturing business is to work with high schools, community colleges, and other educational institutions in the area to get kids enthused about the industry’s future.
A company’s personal brand is just as critical. There are many Millennials who aren’t seeking “just another job” in order to pay the bills and put some money down for retirement. They are looking for a chance to grow as a person and to have a positive effect on the world around them. That may seem like a tall order, but in the manufacturing industry, there are a plethora of opportunities to achieve this goal. Therefore, it is critical that these young individuals are made aware of the numerous benefits that a career in manufacturing may provide. That’s when employer branding enters into the picture.
Marketing, HR, and director-level management will need to work together to create successful campaigns that connect with an organization’s business goals and hiring objectives. It is not uncommon for millennials to seek for a team-oriented work atmosphere with a strong emphasis on creativity and cooperation. If your organisation is capable of delivering it, you should shout it from the rooftops. In order to attract the Millennials they so desperately need, manufacturers’ branding must be given a makeover.
Get the Help of a Recruitment Firm for the Manufacturing Sector
According to the National Association of Manufacturers, manufacturing employees are working 2.5 times as hard as they did 30 years ago. Because of an inability to fill unfilled positions owing to an inability to recruit Millennials, the company is losing out on a significant amount of productivity. Additionally, it takes an average of seventy days to fill those vacancies, which amounts to more than two months of lost output. Energy resourcing might help you if these figures are all too true for you. In order to find the best candidates, we work closely with our customers. What a pleasure it will be to get to know you better!