2022 Industrial & Production Trades Survey Executive Summary

Recruiting & Hiring
Talent Management
Compensation Planning

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There is no shock that the skill shortage continues to challenge manufacturers. The shortage for talent had been a problem for years prior to the COVID-19 pandemic and escalated during that time. That trend continues and, according to our 2022 Turnover Survey, organizations reported that one in three employees left production, maintenance, service, and trade jobs in 2021.

The current labor shortages could be a glimpse into a long-term employee trend. Employers can prepare by evaluating both the immediate recruitment need and planning how to position themselves for the future. Making this strategy a priority may give organizations a competitive advantage as inflation rises.

It has been difficult for employers to find their footing with recruiting, due to the migration of talent over the past year. Regardless of the position, recruiting and retaining employees has been difficult in this market. With the large number of job openings, job seekers have many choices as they search for jobs. There are many ways to recruit and there is no right or wrong way to attract talent. In an attempt to find solid ground, organizations began enticing candidates by increasing starting wages, adding hiring and retention incentives, and finding ways to differentiate their benefit packages.

2022 IPT Survey Cover