Navigating the talent shortage: market intelligence for manufacturing leaders

According to a report from Deloitte and the Manufacturing Institute ‘manufacturers could need as many as 3.8 million new workers by 2033. Roughly 1.9 million of those could go unfilled if current labor gaps remain unsolved.’

The talent shortage within the Manufacturing Industry is a long-standing challenge, caused by several factors, including an ageing workforce, technological advancements and skill gaps.

For manufacturing leaders, leveraging the latest market intelligence now could have a positive impact on closing the talent gap moving forward…

Market Intelligence for Manufacturing Leaders

Leveraging Technology

New technological advancements can be both a challenge and an opportunity for the manufacturing industry. These advancements are challenging in that there is a dwindling supply of professionals skilled in some new technologies, but they are also an opportunity in that new tech can fill some important gaps. For example, advanced tools like AI and automation can take over repetitive tasks, freeing up skilled workers to focus on more creative and critical thinking tasks.

Similarly, digital platforms and online training technology help upskill current workers and train new workforces, both supporting initiatives to close the talent gap.

Manufacturing leaders should embrace technological advancements and use them wisely and to their advantage.

Specialized Recruitment Agencies and Passive Talent

Putting all your eggs in the traditional recruitment basket can limit the success of your recruitment processes, thus helping to increase the talent shortage. Instead, industry leaders should look towards more specialized ways of recruiting to source, screen and select top-quality candidates.

Utilising a specialized agency can be one way to do this – with their finger on the pulse of market intelligence and trends, they can analyse their extensive talent pool to select highly skilled professionals suited to your organisation. These agencies also have access to a network of passive candidates – skilled workers often overlooked when it comes to recruitment.

By utilising the support of specialized agencies, the manufacturing industry can broaden its recruitment horizons and begin collating a previously overlooked workforce to help shrink the gap.

Partnerships with Education and Training

The Manufacturing Industry has an ageing workforce, perhaps due to the perception of the industry or lack of support for younger professionals wanting to enter the industry. Of course, both factors have contributed greatly to the talent shortage.

Therefore, investing in partnerships with education and training programs is a lucrative method for industry leaders. By providing access to courses, apprenticeships and internships, the manufacturing industry becomes an enticing career path for young people. When these young people are effectively trained in specific skill requirements, they can make a huge difference when it comes to reducing the talent shortage.

Industry leaders should endeavour to make education and training a priority when it comes to investment in the future of the manufacturing workforce.

Manufacturing Recruitment with Mackinnon & Partners

Managing the talent shortage starts with manufacturing industry leaders. For support in sourcing, screening and selecting top-quality manufacturing candidates, please do not hesitate to get in touch with our specialized recruitment team.