The shortage of skilled workers in recent years has had a major impact on various industry sectors – from construction to automotive and manufacturing.
The government’s 2033 employment projections are positive, estimating that total employment will increase by over 14% in the next decade, and that 2 million more people will be employed by 2033 than are currently employed.
Notably, manufacturing and mining – sectors that have been adversely affected by the skills shortage – are expected to experience significant growth in employment in the next ten years.
“This is excellent news, particularly considering the difficult recovery from the impact of the COVID-19 pandemic,” notes Hazel Stewart, MD of Innovate Learn (a Melbourne-based distributor of solutions from Wilson Learning Worldwide). “However, to get ahead of the employment growth curve, employers in these sectors may want to consider implementing specific measures to attract and retain star talent.”
Driving positive change
Noting that some of the driving factors responsible for the declining employment rates are outside of an employer’s control (e.g. rising wage costs or global economic shifts), Hazel suggests that there are a number of initiatives that could support the re-staffing of factories, mines and plants in the long term.
- Embrace disruptive technology: To properly implement and manage new technology, businesses need workers with the right skills – ranging from data analytics and AI engineering, to programming or robotics. “If your company wants to remain competitive, consider the benefits of these technologies and tools in your business, as well as the benefit in developing the skills of your current workforce,” adds Hazel. Younger employees consider training and development among the most important factors when choosing where they want to work. This gives companies additional impetus to invest in professional development.
- Do good: Sectors such as mining and manufacturing are facing an “image problem”. The work is often perceived to be dangerous, dirty and demanding, while the industries themselves are seen to be contributors to current issues – including global warming. “To attract workers – especially younger candidates who prefer to work for organisations that engage in social responsibility and climate protection – companies could invest in activities that will improve their image, such as programs to reduce their carbon footprint. However, greenwashing and virtue signalling are not tolerated by today’s Gen Z workers, so it’s important that these efforts are sincere and properly managed, reiterates Hazel.
- Collaborate to create interest at grassroots level: A significant challenge facing many sectors is the skills gap created by an aging workforce, and a lack of new talent to take their place. A McKinsey report found that mining is not an aspirational industry for young technical talent, and that there’s been more than a 50% decline in mining engineering enrolment in Australia in the last decade. “Manufacturers and mines might consider partnering with schools and other learning institutions, to support relevant education programs and creatively stimulate an interest in mining or manufacturing jobs in students,” suggests Hazel. She points to the collaboration between local mining councils, universities and video game companies (e.g. Minecraft) to pique the interest of children in the mining sector as a good example of partnership with a cause.
- Invest in Australia: While it may be cheaper to do business with countries like China, Korea and Thailand, this undermines local sectors. “Collaboration is the key to enhance the sovereign capability of Australia, and support our local manufacturing and mining sectors,” stresses Hazel.
To succeed in the global and competitive modern marketplace, Australia’s businesses will need smart, skilled and engaged workers at the helm. “Businesses that have not considered how to unravel the factors driving the skills shortage and put measures in place to attract and retain the rising stars of tomorrow, might find it difficult to manage the talent trend. Now’s the time to implement smart strategies,” concludes Hazel.
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