Episode 438: Mike Olosky, CEO of Simpson Manufacturing, Builds a Safer and Stronger Structural Future
Sep 25, 2024
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In this conversation, Mike Olosky, the CEO of Simpson Manufacturing, shares insights on building a safer future through innovative construction solutions. He reflects on the company's 70-year history and the significance of their 30 years as a public entity. Olosky discusses the pressing labor shortages in trades and the importance of engaging youth. He also highlights strategic expansions, the integration of AI, and sustainable practices that will shape the company’s future amidst challenges in the housing market.
Mike Olosky emphasizes Simpson Manufacturing's commitment to innovative product offerings and a customer-centric culture to drive future growth.
The company addresses labor shortages in trades by connecting underserved youth with career opportunities through initiatives like the Building Talent Foundation.
Deep dives
The Evolution of Simpson Manufacturing
Simpson Manufacturing, founded in 1956, started as a small family business with a vision for producing high-quality wood connectors, a critical component in building strong structures. Over its nearly seven-decade history, the company has not only innovated its product offerings but also played a pivotal role in establishing industry standards for safety and quality. With a commitment to exceeding regulatory requirements, Simpson has built a reputation as a trusted partner among builders, engineers, and architects. This dedication reflects the company's broader goal of shaping safer building practices while navigating the evolving needs of the construction industry.
Leadership Reflections and Future Plans
Mike Oloski, the current President and CEO of Simpson Manufacturing, emphasizes the importance of team synergy in driving the company forward, particularly as it celebrates 30 years since its IPO. Under his leadership, there is a deliberate focus on honoring the company’s legacy while pushing for innovation related to products and corporate culture. The strategy revolves around nurturing a customer-centric approach and a strong internal culture, which he believes are crucial for sustained growth and competitiveness. As Simpson approaches its 70th anniversary, Oloski aims to integrate past learnings into future opportunities as they remain a leader in the manufacturing sector.
Commitment to Addressing Labor Shortages
The podcast addresses significant labor shortages in the trades sector, with an estimated 600,000 job vacancies in manufacturing. Simpson Manufacturing aims to uplift the trades through initiatives such as the Building Talent Foundation, which connects underserved youth with career opportunities in the construction industry. Oloski compares the U.S. education system unfavorably to the German system, which identifies and supports students entering trade professions early on. By providing apprenticeship programs and hands-on training, Simpson seeks to inspire the next generation to consider fulfilling careers in the trades.
Innovative Solutions and Digital Transformation
Simpson Manufacturing is currently harnessing the power of digital solutions to enhance its product offerings and improve operational efficiency, with a particular focus on artificial intelligence and software integration. Oloski mentions that the company has developed over 50 web applications to help builders streamline their operations, from managing materials to visualizing designs. The acquisition of Calculated Structured Designs showcases Simpson's commitment to expanding its digital capabilities, allowing for greater integration in offering structural solutions. As the company gazes into the future, Oloski views digital innovation as a critical driver of growth, thereby ensuring Simpson remains ahead of industry trends.
Structural resiliency, building safer and stronger buildings, is integral in forming more durable communities. Designing solutions for applications in wood, steel, and concrete structures, is Simpson Manufacturing. Celebrating 30 years as a public company, President & CEO Mike Olosky goes Inside the ICE House to reflect on the company's almost 70-year history, while also detailing plans for the future and the impact that emerging technologies are having on the industry.