Recently, the Labor Department shared exciting news about the US job market, boasting a 3.9% unemployment rate. An achievement certainly, but for many employers, the low unemployment means stiffer competition for their labor force. In the skilled trades industry particularly, this means employers must differentiate themselves to maintain a skilled workforce and talent pipeline, all while also combatting other workforce challenges related to the skills gap.
The skills gap, which is especially prevalent across the skilled trades industry, has many facets. Not only does it contribute to the lack of qualified workers entering the workforce, but also exacerbates the growing number of tenured workers who may not have all the skills they need for today's shifting job requirements. Both of these instances can cause low employee engagement, low retention, and high turnover. All of which negatively affect both employees and employers.
Furthermore, without conscious efforts, workforce challenges like these can dramatically impact an organization's productivity and bottom line. Given these challenges, the question must be asked: How are skilled trades employers able to attract and retain top talent? In an effort to better understand this, we surveyed leading skilled trades employers to share their experiences and the outcomes they saw as they attempted to close their skills gap and boost employee tenure.
The industry leaders surveyed provided key insights into how their organizations' benefited from their attempts to address workforce challenges like the skills gap and high turnover. To discover their effective strategies, read our 2018 Skilled Trades Workforce Survey Report: