THE DEMOGRAPHIC CHALLENGE FACED BY MANUFACTURING

Below is an article by Kylene Zenk in Manufacturing Business Technology about the rising challenge faced by manufacturers in employing enough suitable talent. The article originates in the US but the same holds true for every single economy in the developed world.

CEO’s now ranked the employment of suitable talent above cost-competitiveness and workforce productivity in their ability to achieve their strategic goals.

This shift in emphasis reflects the pressures of demographics on manufacturing.

The figures in the US (and the situation is similar in Australia and Western Europe) say it all:

  • 2.7 million baby boomers are expected to retire by 2025 – leaving 2 million unfilled jobs
  • 46% of executives report that there are too few qualified candidates
  • 80% of manufacturing jobs are currently held by people in the 45 – 60 year old age group

Proof if needed that we are facing an increasingly dire situation in recruitment. So, what can we do? The second part of this article provides some measures that may help. See the article here.


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