You Can’t Innovate Without Talent!

July 13th, 2012

What is holding back the manufacturing industry? It could be the shortage of skilled workers in the field’s product-development sections. Due to this lack of skilled professionals, many employers are struggling to meet the demands under an increasing level of pressure for innovation. The future growth of manufacturers – not just in the United States, but around the world – is threatened, according to a report from the World Economic Forum and Deloitte Touche Tohmatsu Ltd.

The Loss Could be Staggering

Right now, about 10 million manufacturing jobs are lacking employees because the manufacturing industry is seeing a large and growing skills gap. These global numbers are stunning and they stem directly from talent – and the lack of it. There are two types of gaps occurring, according to the report, The Future of Manufacturing: Opportunities to Drive Economic Growth.

  • In emerging countries, the biggest talent shortage comes from skilled production jobs. There are just few trained professionals to fill those gaps.
  • In developed countries, the biggest talent holdback is in engineers.

In the report, it indicates that in some countries, the shortages of talent are easier to spot. Countries reporting the largest gaps included Japan, Brazil, India, and the United States.

How to Overcome the Shortage

Companies are taking the initiative to fill in these gaps. To do so, some are working hand-in-hand with educators in an effort to reduce the impact of such a shortage of talent. Any manufacturer that can overcome this challenge will have the advantage of moving ahead of their competition within the global marketplace. That is enough incentive to get many businesses finding ways to lure in the best talent or to develop new talent.

Innovating Is a Must

In order to remain competitive, many companies will need to be more innovative than ever. Doing so will keep manufacturing companies ahead of the competition. Innovation growth is essential but there needs to also be some level of development occurring to encourage this. Factors such as education and infrastructure, as well as policies and laws, need to encourage the development of innovation.

The report specifically indicated that policies that encourage research and development would need to focus on the areas of patent processing, intellectual property protection, and tax code. Those countries that will fund these types of research and development programs will most likely pull ahead of other countries. This includes those areas of innovation critical to the nation’s overall development. For example, in China, investments like these will enable the country to pull ahead in the areas of biotech, next-generation information technology and energy efficiency.

In order to operating properly in the manufacturing industry, talent is necessary. Employers without this talent, and those who do nothing to find or develop it, could face a limitation on growth in the near future if they are not experiencing it already.

 Find your best innovators when you work with the experts at Stark Talent for all your manufacturing employees.