Shortage of right people, right skills prevents business growth: CME
Coordinated national action needed on skills development for manufacturing.
TORONTO — Not finding the right people with the right skills is preventing Canadian manufacturers from pursuing business opportunities, while driving up costs, undermining productivity, according to a new report from Canadian Manufacturers & Exporters (CME).
The fourth of five reports from CME’s Industrie 2030 initiative blames the shortages on an inability to attract youth into skilled trades relevant to manufacturing; a disconnect between the formal training system and industry needs; and an aging workforce.
“Today nearly 40% of companies are telling us that they are unable to find the right people with the right skills to help grow their companies. As a result, nearly 20% are forgoing business opportunities,” said Mathew Wilson, CME’s senior vice-president.
“Within five years, nearly 60% of companies expect labour shortages to affect their operations, which will have a massive negative impact on economic activities, investment and growth if action isn’t taken.”
Building a Strong and Skilled Workforce for Growth http://bit.ly/2lA5nty
calls for co-ordinated national action on skills development and offers the following recommendations:
• Improve engagement of youth, women and under-represented in manufacturing careers to growth the domestic skilled labour pool;
• Strengthen links between industry and post-secondary institutions to improve alignment of skills and the needs of industry;
• Expand government support for business-led training initiatives and management leadership development; and
• Improve access to foreign trained workers.
Industrie 2030 reports are based on cross-country consultations with more than 1,250 industry executives.
Strategic partners include BDO, RBC, Food and Consumer Products of Canada (FCPC), KPMG, Export Development Canada (EDC), Salesforce Bombardier, Tenaris, ArcelorMittal Dofasco, Microsoft, Canada and Xerox.
Click here for earlier reports.