Change And Labor Shortages Will Continue
Randy Wolken, President & CEO

As hard as it is to hear, labor shortages in manufacturing and tech will persist. Labor shortages in all industries will be evident for the foreseeable future. Every business and industry sector needs to prepare for an extended period of looking for qualified workers, training new and existing workers, and changing operations to account for a shortage of key staff. Every indicator says that the loss of workers in the market and a lack of skilled labor will be an ongoing challenge.

The labor market is exceedingly tight. There are a record number of job openings compared to the number of individuals seeking jobs. As of the end of February, there was a near-record 1.8 jobs available for every one person looking for a job. This ratio is projected to remain.

Every company will need to develop a strategy to meet its needs in a very tough job market. We see this need at MACNY and want to help you. Most employers will need to hire and train or upskill their teams. Finding people with the necessary skills to start without further training will only get more complex. This is why our nation-leading apprenticeship programs are so valuable. We can help you set up key apprenticeship trades for your business where you hire and then provide on-the-job training and learning with our assistance. In 18-24 months, these individuals will be certified journeyworkers that will assist you in training future apprentices. Everyone wins when apprenticeships and upskilling are fully supported.

Other strategies will also be needed. Investments in automation and other smart factory additions are a must. Companies are using capital investments to take advantage of efficiencies, reduce the impact of worker shortages, and leverage existing staff and their advanced skills. Industry 4.0 offers many new ways to create the factory of the future now. MACNY can help determine what you are likely to need as you invest in more technology and advanced skills training for your current staff.

Our workplaces have changed dramatically after two years of rapid change due to the pandemic. The Great Resignation of staff has impacted all industries. Workers have more choices, and significant say in the workplaces they work within. Markets demand greater flexibility and higher levels of delivery. Demand has returned, offering tremendous growth opportunities for those businesses that can respond. It indeed has been a time of rapid – and lasting change. MACNY will be here to help you navigate into the future. Please don’t hesitate to tell us how we can help and what you need. We look forward to doing it with you.