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[IWS] Accenture: 2014 MANUFACTURING SKILLS AND TRAINING STUDY [13 May 2014]

IWS Documented News Service

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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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This service is supported, in part, by donations. Please consider making a donation by following the instructions at http://www.ilr.cornell.edu/iws/news-bureau/support.html

 

Accenture

 

2014 MANUFACTURING SKILLS AND TRAINING STUDY [13 May 2014]

http://www.accenture.com/us-en/Pages/insight-manufacturing-skills-training-study-2014.aspx

or

http://www.accenture.com/SiteCollectionDocuments/PDF/Accenture-2014-Manufacturing-Skills-Training.pdf

[full-text, 16 pages]

 

View the Infographics:

·         U.S. Manufacturing Skills Shortage Threatens Future Earnings

·         Combating the Skills Shortage in U.S. Manufacturing

 

A new Accenture manufacturing and skills study, completed in collaboration with The Manufacturing Institute, looks at the skills shortage in the US manufacturing industry and what actions manufacturing companies can take to address this impediment to growth.

 

Our study includes survey responses from more than 300 executives from a diverse range of US manufacturing companies. It confirms that the current period is favorable for the US manufacturing industry, which has exhibited steady growth in recent years. The study shows that more than 50 percent of companies surveyed plan to increase US-based production by at least 5 percent in the next five years.

 

KEY FINDINGS

 

·         US Manufacturers are ready to grow: The study found that 82 percent of survey respondents plan to increase production.

·         More than 50 percent of the companies surveyed plan to increase US-based production by at least 5 percent in the next five years.

·         Nearly 25 percent of survey respondents plan to grow US-based manufacturing roles by more than 10 percent in the next five years.

·         US Manufacturers are experiencing a skills shortage: A shortage of skilled talent exists in the manufacturing industry—and it is likely to become severe in the coming years.

·         More than 75 percent of manufacturers surveyed report a moderate to severe shortage of skilled resources.

·         More than 80 percent of manufacturers surveyed report a moderate to severe shortage of highly skilled manufacturing resources.

·         Skills shortages are causing a blow to the bottom line: Skills shortages lead to increased production costs which in turn drive revenue losses.

·         More than 70 percent of respondents report at least a 5 percent increase in overtime costs.

·         32 percent of respondents report increased overtime costs of 10 percent or more.

·         62 percent of respondents report an increase in production downtime of 5 percent or more.

·         66 percent of respondents report an increase in cycle time of 5 percent or more.

 

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This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

 

 

 

 

 

 

 

 

 




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