Electronics manufacturers must balance costs, quality, and innovation and now, a deficit of skilled workers. The labor shortage spans the globe and impacts multiple industries, especially electronics manufacturers.
How can technology help us with the labor shortage? Watch this on demand webinar to learn about:
While there is a deficit of skilled and unskilled workers retirement is a large contributing factor.
Why? Baby Boomers, the largest generation, have or will reach retirement age at some point between 2011 and 2029. For example, in 2010, 13.1% of Americans were 65 or older, one in eight. It hit 16.9 percent by 2020, one in six, and is expected to exceed 21 percent, one in four, by 2030.
The void left by retirees and growing labor crisis has led to the loss of institutional knowledge, an excess of unqualified, unprepared job searchers and a shortage of entry-level applicants.
Electronics manufacturers must be creative to solve today’s labor challenges.
Solutions to the labor shortage crisis include searching abroad, preserving knowledge and using a manufacturing operations management (MOM) solution to holistically digitalize and automate manufacturing processes, filling the labor gaps.