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Building vs. Buying Talent

By establishing an apprentice program, companies can retain the critical knowledge that differentiates them from their competitors.

Leslie Parady
Thu, 03/25/2010 - 09:39
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Despite double-digit unemployment, advanced manufacturing firms are still searching for highly skilled people to fill open positions. Critical skills are scarce and about to become much scarcer as the skills gap grows and the “Baby Boomers” retire.

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Manufacturing is one of four industries preparing for a mass exodus of retiring, skilled employees. At the same time, the Department of Education estimates that 60 percent of all 21st century jobs require skills possessed by only 20 percent of the work force. The result—fewer and lower quality workers, especially in areas that require a high skill level. 

Advanced manufacturing firms will be forced to reevaluate their work force and hiring strategies and take it upon themselves to close the skills gap. As we pull out of the current economic recession, companies can no longer just hire for today’s needs, they must hire for tomorrow’s needs.

 …

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