News: Ten million manufacturing jobs vacant

#Updates

Ten million manufacturing jobs vacant

A recent study “The Future of Manufacturing: Opportunities to Drive Economic Growth” conducted by World Economic Forum in collaboration with Deloitte Touche Tohmatsu, April 2012, states that an estimated ten million jobs with manufacturing organizations worldwide cannot be filled due to growing skills gap. It says that shortage is pervasive despite the high unemployment rate in many developed economies where companies are struggling to fill manufacturing jobs with right talent. At the same time emerging economies cannot fuel their growth without skilled workers in the production category.

A recent study “The Future of Manufacturing: Opportunities to Drive Economic Growth” conducted by World Economic Forum in collaboration with Deloitte Touche Tohmatsu, April 2012, states that an estimated ten million jobs with manufacturing organizations worldwide cannot be filled due to growing skills gap. It says that shortage is pervasive despite the high unemployment rate in many developed economies where companies are struggling to fill manufacturing jobs with right talent. At the same time emerging economies cannot fuel their growth without skilled workers in the production category.

The study states that the skills gap that exists today is not likely to close in the near future, and companies and countries that can attract, develop and retain the highest skilled talent - from scientists, researchers and engineers to technicians and skilled production workers - will come out on top. In essence, talented human capital will be the most critical differentiator. According to the report, innovation will play a key role in determining which countries and companies can succeed in global manufacturing looking two decades down the road. Further, the report said that affordable clean energy strategies and effective energy policies would be a top priority for manufacturers and policymakers.

The study notes that access to talent will become more important and more competitive and that the future of manufacturing is turning into a competition for talent.

Source: The Economic Times

Topics: #Updates, #Jobs, Talent Acquisition

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