Labor shortage – How manufacturers can attract and retain qualified workers
Abstract: According to The CFO Survey, a collaboration of Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta, labor quality and availability was the most pressing concern in the second quarter of 2021. The labor shortage has been a major concern among CFOs for years, and the COVID-19 pandemic has only exacerbated the problem. Job openings — for positions such as assemblers, machinists, technicians and engineers — exceed qualified applicants by a wide margin. This article provides a few creative ideas to help manufacturers bridge the gap.