The skills gap continues to widen for the manufacturing industry. According to Deloitte, the number of new jobs in manufacturing to accelerate and grow by 1.96 million workers by 2028, while more than 2.6 million baby boomers are expected to retire from manufacturing jobs over the next decade.
This not only impacts production amidst rising demand, but slows innovation and new product development.
In a study from Deloitte, the top five skill sets needed to support advanced technologies are:
- technology/computer skills
- digital skills
- programming skills for robots/automation
- working with tools and technology
- critical thinking skills.
Employee retention is critical to narrowing this talent gap as a pipeline is built for new talent. Many employers have the misperception that employees leave because they are unhappy, but the more common reason is job security.
Employees see the requirement for new skills, but no pathway for them to develop those skills. They fear their job will be eliminated so they search elsewhere for employment. Manufacturers can get ahead of this turnover by developing a culture that values and supports professional development.
Managers can take the following steps to increase engagement with employees and drive talent retention while also meeting the demands for growth:
- Deliver real time feedback – let employees know where they are excelling and where there are opportunities for improvement
- Maintain consistent communication – employees want to know where they stand, the vision for the company and opportunities for growthRecognize achievements – employees want to know they are valued and their hard work is being recognized. In an environment where employees are working in the field or in spaces that don’t allow for frequent contact with management, they can feel overlooked
- Provide coaching – talk with your employees about their career goals, opportunities for lateral and vertical advancement and the skills required. Work with the employee to develop a professional development plan to achieve those goals and provide ongoing coaching to ensure they are progressing
The adoption of a continuous performance management approach can help manufacturers nurture and engage existing employees, reduce turnover and address the challenges presented by the raging war on talent.
Contact us today to learn more about our modern approach to performance management and development that actually improves the manager and employee relationship. Don’t just take our word for it, see what our Customers have to say.