Manufacturers and distributors cannot find top talent! In a survey conducted by my firm, LMA Consulting Group Inc. in conjunction with the APICS-Inland Empire chapter, it was found that 77% of manufacturers are struggling to find qualified candidates to fill open positions.
Over the last several years, supply chains have become more complex. There are countless reasons why this is true; however, a few that pop to mind include: 1) Supply chains have been extended and are increasingly global. 2) Volatility is the new norm – supply chain partners can go out of business, experience dramatic growth etc. 3) Political instability remains in many areas – most likely, something in your supply chain is produced there or dependent on these places. 4) Natural disasters occur – hurricanes, tornadoes, earthquakes can create havoc. 5) Supply chain security is a challenge. 6) Sustainability is gaining momentum. 7) Regulations and requirements have added complexity. 8) Recessions, depressions, exchange rates to boot.
As supply chains have become more complex, companies must keep up in order to survive – or preferably, thrive. Thus, a broader range of skills are required to successfully navigate through these complexities. Suddenly, companies require a higher skilled employee base than before. However, it’s the rare exception of a company who has invested in their employees. During the recession, what companies invested heavily in training? Who hired top talent at top dollar? Who implemented retention programs? In my experience, most employees were fortunate if they kept their job and salary intact. So, is it any wonder that finding top talent is difficult?
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Those companies who find a way to ACCELERATE progress on these key priorities will surpass their competition. What are you doing to ensure success?