Investing in Automation
Tackling a skills shortage
The Automation Enhanced Workforce
Since a few years ago, there has been a worrying labor shortage, which has been made worse by the worldwide recession brought on by the COVID pandemic. The ripple effects are now having an influence on businesses at both ends of the corporate spectrum, from the smallest startups to well-known, well-recognized brands. Regardless of their size, the threat to operation and effectiveness if the skills gap is not addressed is quite serious.
Why is this problem so critical to both major manufacturing facilities and startups? According to the The National Association of Manufacturers “the manufacturing skills gap in the U.S. could result in 2.1 million unfilled jobs by 2030.”
They predict that the cost to US manufacturing in 2030 alone could reach $1 trillion as a direct result of these lost jobs. According to estimates, 1.4 million manufacturing jobs in the United States were lost in the early stages of the pandemic, delaying the growth of the sector’s labor force by more than ten years. Although the manufacturing sector recovered more than 60% of those lost jobs, it is still urgently in need of skilled workers. The ability to recruit and keep employees is one of the major issues manufacturers claim they are facing because there are so many open manufacturing jobs.
There must be a change. This new era in manufacturing can be ushered in by a workforce boosted by automation.
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