Many Trump Administration Policies Aim to Bring Jobs Back to the US: Are Companies and Workers Ready?
New research released by the Motor & Equipment Manufacturers Association (MEMA) shows that Trump administration policies that aim to bring jobs back to the United States may exacerbate challenges American businesses are already experiencing in recruiting and retaining a qualified workforce.
According to a survey of MEMA’s member companies, motor vehicle parts manufacturers are already being impacted by labor shortages and other workforce issues. Some of the research results show an alarming trend where businesses are unable or struggling to effectively compete with their current workforce. Among the findings:
72 percent of MEMA members responding to the survey reported a skilled labor shortage.
More than 45 percent of skilled and professional staff are eligible for retirement in the next five years, creating a potential sudden loss of institutional knowledge and a rapid decrease in trained employees.
79 percent of member companies reported not pursuing business due to lack of talent on staff.
68 percent of respondents indicate they have taken steps to find non-traditional workers to help alleviate the workforce problems and providing basic skills training such as reading and math.