34th Annual Survey of Corporate Executives Commentary: Corporate Survey Respondents Give Training Programs Short Shrift
Considering the importance of access to skilled labor at a reasonable cost, why don’t corporate executives give more importance to training and technical programs?
Q1 2020
Given historically low unemployment, we all know there are few people on the sidelines waiting for a job offer. As a result, companies are forced to hire from the ranks of the “already-employed,” in turn bidding up wages to entice folks to leave good jobs for a better one. That’s the direct tradeoff between availability and costs many companies face.
Alternatively, expanding companies can hire from the ranks of the underemployed (e.g., folks working in retail or food service). Or they can hire workers re-tooling from other industries. Or they can hire younger workers now entering the workforce. These are oftentimes untapped sources of labor. The common denominator across those pools of workers, however, is the critical importance of strong state, regional, and local training and education programs.
So, if companies value access to skilled workers while remaining sensitive to rising labor costs, why aren’t they flocking to every local technical college or career high school to find that talent? Why isn’t training programs/technical schools ranked No. 1?
Clearly, there are many reasons why that’s not the case — far too many to list. But I do think one, simple way to get more locationally active companies focused on training resources is to ensure that local industry in addition to economic development and training partners are the ones telling that training story. In our experience, that training pitch resonates much more strongly when it comes from the folks who are actually using those training resources and can speak firsthand to their value.
If local employers are engaged with training and education, then it’s more likely that future employers will be engaged with training and education. And, come next year, we’ll (hopefully) see training programs rise up the rankings.
Project Announcements
Northland Corporation Expands Greenville, Michigan, Operations
08/29/2024
Swedish Match Expands Daviess County, Kentucky, Operations
08/29/2024
Ardent Mills Expands Commerce City, Colorado, Production Operations
08/29/2024
Paul Mueller Company Expands Springfield, Missouri, Manufacturing Operations
08/29/2024
Nashville Wire Products Expands McEwen, Tennessee, Operations
08/28/2024
Crusoe Energy Systems Plans Tulsa, Oklahoma, Manufacturing Operations
08/27/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
What the Latest EPA PFAS Rule Means for Site Due Diligence
Q3 2024
-
Semiconductors’ fragile relationship with water may be tested
Q3 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
Mitigating Site Risks for Industrial Projects
Q3 2024