SAN FRANCISCO – Companies across the supply chain are struggling to hire new employees, and it’s creating supply chain bottlenecks.
“It’s impossible to increase capacity if you don’t have the labor,” Timothy R. Fiore, chair of the Institute for Supply Management’s Manufacturing Business Survey Committee, said on a July press call. And this inability to increase capacity has led to record-high lead times.
For manufacturers, the limited supply of labor is compounded by a long-standing “image problem“, which makes it difficult to hire the workers companies need.
Reports have shown that manufacturers that include robust employee training in their organizational visions may be able to surpass the image problem and attract millennial and Gen Z candidates.
Workers of younger generations “expect companies to demonstrate a strong sense of purpose and want to be part of that,” Tooling U-SME said in its report — and a dedication to employee careers is one way to emphasize that. Employers may have even more reason to invest in talent strategies that attract that cohort as the economy recovers; workers under the age of 25 were more likely to be laid off than those ages 35 and older, particularly at small businesses, a Gusto report showed.
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