Cultivating key skills
While the economic downturn has helped to push the people factor lower down on the boardroom agenda, the results of PwCs 12th Annual CEO survey show that 38% of industrial manufacturing CEOs anticipate increasing the headcount over the next 12 months and that they experience many of the same problems in finding good staff as their peers in other industries. In addition, companies are beginning to recognise that their largest source of competitive advantage is virtually untapped – their people. Too often, companies suffer from ineffective management, inadequate staffing and a failure to engage employees in the process of change. Productivity can be crippled by a failure to attract and retain enough of the right people, or having a workforce that is not engaged and aligned to working towards the company’s goals. The concept of employees being a source of competitive advantage is not new, but manufacturing companies that are able to fully realise the potential of their people are still in the minority.
Key challenges in recruiting good candidates into the sector include a limited supply of candidates with the right skills, and providing an interesting career path to attract those candidates who might otherwise be drawn towards services sectors. Industrial manufacturing CEOs are also more likely to see the demographic ‘time bomb’ as a threat to the long-term growth of their companies. Investment in long-term human resource planning is needed to ensure a smooth transition as experienced staff members retire to ensure overall skills are maintained at the necessary levels.
How PwC can help you
Getting the best from people at every level when there is constant change is the key to sustainable competitive advantage. Solid strategies, processes and technology alone do not deliver results. It takes people to accept, adopt, drive, and sustain the change to realise tangible impact. Success in business hinges on strategic agility and the ability to execute. Our industrial manufacturing sector experts work with a network of 6,000 HR professionals to help you:
- Assess and improve your attractiveness as an employer
- Attract, motivate and retain the right employees
- Develop effective employee compensation and benefits schemes
- Quantify the contribution your employees make
- Manage major change programmes and ensure that the changes stick
- Benchmark your HR function against those of your competitors
- Develop the internal resources to manage HR issues proactively