Manufacturing CEOs Share What’s Keeping Them Up at Night

Ten years ago, we surveyed manufacturing CEOs to determine what kept them up at night. Coming on the heels of the Great Recession, concerns about another economic downturn were naturally top of mind. Worries about supply chain challenges—in the aftermath of the first significant global supply chain disruption and the Tohoku earthquake and tsunami of March 2011—were second.

We informally surveyed CEOs again this October to gauge their current pain points. Following is a snapshot of top-ranked concerns facing U.S. manufacturing leaders toward the end of 2021.

1. Talent recruitment and retention. No surprise here—unless you were expecting No. 1 to be supply chain disruptions. What was once a concern is now a crisis. Not only were there almost 900,000 job openings in manufacturing in the latest U.S. Bureau of Labor Statistics report, or about 9% of all private openings, but more than 300,000 manufacturing employees quit their jobs each month this summer. The Great Resignation is altering the global work landscape. On top of the struggle to attract younger workers—those with STEM skills and a general interest in mechanical and technical careers—manufacturers now have to deal with changing generational perceptions of work overall. Millennials and Gen Z are predicted to make up 30% of total employment by 2030.

2. Global supply chain disruptions. Hiccups in the production and distribution of materials, components and products have become…

Read the full article on Industry Week.

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *