The Experience Gap
Last spring, Accenture published a report in collaboration with the Manufacturing Institute, stating “U.S. manufacturers face reduced earnings of up to 11% annually due to increased production costs and revenue losses resulting from skills shortages.” They characterized the news as “storm clouds on the horizon that could dampen growth” just as the American economy is recovering. Great.
What’s worse, approximately 10,000 Baby Boomers retire every day, and those leaving the manufacturing industry are taking vital skills with them, leaving lines, floors, and tables idle.