Manufacturers Face Hardships Amid Recovery
Manufacturers are worried that as older employees retire, there will be a serious shortage of qualified applicants to take their place, according to a new report from the Sloan Center on Aging & Work at Boston College.
The study, "Talent Pressures and the Aging Workforce: Responsive Action Steps for the Manufacturing Sector," argues that retirements will hit the manufacturing sector "like a tide."
In a survey conducted as part of the study, 45 percent of respondents said recruiting competent job applicants was a top concern.
Thirty percent of employers said low skill levels among new hires is a major concern. Another 29 percent said "knowledge transfer" from experienced employees to younger employees was also a major concern.
And that concern isn't limited to employees on the factory floor. The study found that skills are in short supply in management, and in the legal, sales and marketing and other departments, as well.
Manufacturing firms seem to be less prepared for the coming talent shortage than employers in other sectors, the study found.
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