Manpower Shortage Acute in Skilled Industries: Help Wanted!
"There's a tremendous shortage of skilled workers," said Craig Giffi, a vice chairman of the consulting firm Deloitte. A recent survey it did found that 83% of manufacturers reported a moderate or severe shortage of skilled production workers to hire.The shortage of skilled workers extends virtually around the globe.
Pay levels provide evidence. While hourly wages in the broad category of maintenance and repair workers rose 6.4% from 2007 to 2010, increases were 10% in the subcategory of heavy-vehicle mechanics and 15% for specialists in electrical repairs on commercial and industrial equipment. The implication is that employers were competing for a limited pool of qualified workers.
The Deloitte study found that 74% of manufacturers said a shortage of skilled production workers had a "significant negative impact" on either their productivity or expansion plans. _WSJ_FoxNews
More than half of U.S. employers report having a hard time finding people to fill some of their most critical positions. Quite a few countries around the world are experiencing the same problem, according to a global survey by international employment agency, ManpowerGroup.
... According to this year’s ManpowerGroup survey of 39 countries, 34 percent of employers worldwide say they have trouble finding qualified workers. While 52% percent of U.S. employers have the same problem filling critical positions, Japan, India and Brazil have the most difficult time.
...The hardest jobs to fill are technicians, skilled trades, sales representatives that require highly technical knowledge.
Jatan Shah, Chief Technology Office of QSC Audio says his company has been expanding and hiring. But he says finding the right worker for positions from engineers to plant workers has been a challenge. “It takes anywhere from three months to a year to fill certain positions.
New Zealand is hiring -- and has to travel overseas to find qualified workers in many areas.
University graduates in a wide range of subjects, simply lack practical skills for the modern workplace. Industries must invest a great deal of money in training new hires, and it is not clear that the aggravation of training and the risk of lawsuits by female and minority employees will ever be compensated by productivity -- particularly from graduates of women's studies, ethnic studies, or third world underwater matriarchal basketweaving cultural studies.
The "feminisation" -- or dumbing down -- of many formerly rigorous university studies programs has left employers doubtful of the quality of new college graduates.
Even India finds that its industries must spend a great deal of money training fresh hires driectly out of school:
Most Indian IT firms also have to invest significant amount in training freshers to get them job ready.
At Infosys for one, freshers go through an average of 3-6 months of training before becoming billable....Companies invest heavily on training and upgrading talent. _TOI
So, the problem is seen in both the high paying skilled blue collar sectors, and in the technical college educated sectors. And employers are feeling the pain, and having to cut back on established lines as well as cancelling other projects which they could have embarked upon -- if only they had the skilled workers.
This shortage of skills -- a human capital shortage, really -- is adding a negative impact to the already dire situations of western nations coming from unwise policies of debt, demography, bureaucratic overreach, and energy starvation. Trickle down revolutions are already ongoing in some nations of the middle east, but expect trickle down insurrections to work their way toward Europe's periphery.
Of course you can only take care of you and yours, in the end. Focus on that goal first and foremost. Maximise your own human capital, and that of those closest to you.
This article has been expanded to focus on peak manpower skills in the energy sector at Al Fin Energy blog.