Skills Gap Holding Back The Growth Of Manufacturing – Temporary Warehouse Structures
How The Skills Gap Is Slowing Manufacturing Growth By Temporary Warehouse
According to a recent report by Industry Pulse, a lack of skilled talent is one of the biggest problems for the manufacturing sector and is holding back growth. The report notes that three of the main challenges that companies are facing for growth over the next 3 years revolve around the issue of developing a skilled workforce. Expanding the business is not possible without having workers.
In spite of this, only 41 percent of businesses believe that they are providing adequate training to help people get the skills they need. This could be a major opportunity.
The skills gap will not fix itself. If developing a workforce is not an area of important development for your organization then you should stop and think about how much it is costing you do not have a skilled team. A lack of training and retention efforts could be costing you money.
Some Of The Key Highlights And Takeaways From The 2018 Workforce Report
Around 88% of manufacturers cited the ability to expand their business as a top concern.
Meanwhile, 99% stated that finding skilled new hires was a major challenge.
The Top Takeaway:
The skills gap is a major threat to the sector’s growth. Companies need to prioritize recruiting skilled hires, and they need to plan to retain employees.
81% of managers noted that implementing new technology is a challenge for them.
Takeaway No. 2:
Technology is changing more quickly than people are learning new skills. The manual processes of old are being replaced and workers need to learn new tech-driven skills. It is important to understand robotics and analytics so that the manufacturing sector can achieve its potential.
Losing an entry-level employee could cost as much as $7,500 while losing an engineer could cost $30,000. These estimates don’t include hiring temporary employees, or the cost of lost productivity. The total cost of employee turnover is higher than it looks at first glance.
Takeaway No. 3:
Managers often say that they don’t have the money to invest in a training and development program. What they fail to consider is how the program could be offset by reduced annual turnover costs.
The economy is likely to start growing soon, but a lack of trained manpower will stunt the ability of companies to grow with the economy. Is your business ready?
The team at Temporary Warehouse Structures is the best-trained in the industry. If you want to grow fast then our structure solutions will help you achieve your goals. Founded in 1998 by two men with more than 36 years of experience in the industry, no company in the US was providing the same quality of industrial grade, clear span tents for portable, temporary warehousing. While there are party and event tent companies that try to cater to the market, they do not match the quality of the European tents.
Temporary Warehouse Structures took the German innovations in tents to America and provides companies with heavy, strong and reliable temporary warehousing structures. Our structures are not party tents and we do not offer event structures. We offer insulated, weatherproof, strong and durable structures that are intended for use for the longer term. Our galvanized steel structures and double insulated, condensation free structures without wind flutter are designed to protect your goods and to remain stable and strong for the longer term.