The State of Hiring: How the Manufacturing Industry is Responding [Report]
“It’s the strangest thing I’ve ever seen in more than 25 years of recruiting.”
This comment is probably one you have either heard or spoken yourself in the last year. From the shortage of qualified talent to historically low unemployment levels to layoffs at some companies, the hiring market seems to be sending mixed messages today. But the truth is that the latest research indicates some pretty clear delineation between firms that are freezing hiring or reducing headcount and those that are still hiring as usual.
Within the context of the report, we look at some of the specific data that apply to the manufacturing sector based on responses from talent leaders at those firms in our 2023 Talent Acquisition Trends study. Not only that—we also pull in some candidate data points to highlight what candidates are looking for in a modern hiring process to help you stand out from the competition.
To start, let’s point out that the headlines we all see are primarily relegated to the technology industry. We also see in some of the data that those who are being laid off in that industry are quickly being scooped up by other employers that have been operating at a talent deficit. 69% of talent executives at manufacturing companies say they are finding qualified talent as a result of layoffs in other industries.
There’s also positive sentiment about hiring and growth. 63% of manufacturing company leaders say they plan to increase hiring volume this year, and another 31% are holding steady from last year’s pace.
For comparison purposes, only half of all employers expect hiring volume to increase and about 40% expect a similar volume to last year, indicating that manufacturing talent acquisition is a bit more aggressive than the norm.
Thank you to Gem for partnering with us on this research!
Ben Eubanks is the Chief Research Officer at Lighthouse Research & Advisory. He is an author, speaker, and researcher with a passion for telling stories and making complex topics easy to understand.
His latest book Talent Scarcity answers the question every business leader has asked in recent years: “Where are all the people, and how do we get them back to work?” It shares practical and strategic recruiting and retention ideas and case studies for every employer.
His first book, Artificial Intelligence for HR, is the world’s most-cited resource on AI applications for hiring, development, and employee experience.
Ben has more than 10 years of experience both as an HR/recruiting executive as well as a researcher on workplace topics. His work is practical, relevant, and valued by practitioners from F100 firms to SMB organizations across the globe.
He has spoken to tens of thousands of HR professionals across the globe and enjoys sharing about technology, talent practices, and more. His speaking credits include the SHRM Annual Conference, Seminarium International, PeopleMatters Dubai and India, and over 100 other notable events.