Workers wanted: How to fill the skilled-trade shortage
May 31, 2024
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Brooke Weddle and Bryan Hancock share insights on addressing the shortage of skilled trade workers. They discuss the need for vocational schools, challenges in talent supply, high turnover rates, and the importance of ecosystem collaboration to attract and retain workers. They also explore the misconceptions around skilled trades and strategies for recruitment and training programs.
Shortage of skilled trades workers threatens economic progress and national defense
Challenges in retaining skilled workers include lack of career advancement and mismatched job expectations
Deep dives
Shortage of Skilled Trades Workers in the US
There is a long-standing shortage of skilled trades workers in the US leading to an urgent need to address this issue. The lack of skilled laborers poses a threat to economic progress, infrastructure development, and national defense. While job opportunities in skilled trades are available, there is a struggle to attract and retain enough workers in these critical roles.
Factors Contributing to Skilled Labor Shortage
The demand for skilled trades jobs is soaring, with the potential to expand the job market supply significantly. However, challenges exist in retaining workers due to issues such as lack of career advancement, poor treatment, and inflexible work environments. Efforts to attract younger generations, like Gen Z, to vocational training are being made but have not yet bridged the gap between supply and demand.
Challenges and Solutions in Skilled Trades Employment
High rates of churn among new hires are attributed to mismatched job expectations, lack of career progression, and inadequate supervision. The cost of turnover in skilled trades amounts to billions annually. To address these challenges, companies need to redefine skilled trades roles, innovate workforce attraction and retention strategies, and collaborate across sectors to create a more supportive ecosystem for skilled labor recruitment and development.
Plumbers, carpenters, builders, and engineers are in short supply. What will it take to meet the demand for these skills in the United States and globally? In this episode of McKinsey Talks Talent, Brooke Weddle and Bryan Hancock join host Lucia Rahilly to discuss how to attract—and keep—people in these roles and drive productivity. The following is an edited transcript of their conversation.