The Fabricator - November 2013

At a time when technological innovations offer new growth opportunities for the manufacturing sector, a lack of talent from rising generations threatens its future vitality, according to Industry Market Barometer® (IMB) research from ThomasNet.com®, New York City.

The annual survey of more than 1,200 U.S. manufac-
turers paints a picture of an industry that is thriving and
reinventing itself every day, but is in danger of slowing
down if it doesn’t replenish its talent pool. Most of these
respondents are from small and midsize manufacturing
companies, representative of their sector.

Currently the future is bright for these companies: Fifty-five percent grew in 2012, and 63 percent expect to grow in 2013. Sixty-seven percent plan to introduce new products or services this year.

A closer look at the findings, however, reveals a discon-
nect between the growth of these
manufacturers and their lack of urgen-
cy when it comes to bringing in fresh
talent to carry them forward. The
survey respondents mirror today’s
manufacturing workforce, which is
heavily populated by employees who
are 45 and older. With Generation Y
projected to make up 75 percent of
the workforce by 2025, manufactur-
ers need a collective succession plan
to maintain their momentum. Yet,
eight out of 10 respondents report
that this generation represents a small
fraction of their employee base, and
most don’t see that changing soon.
In short, despite more opportunity
ahead, manufacturing’s “biological
clock” is silently ticking away.

“As a foundation of our economy, the manufacturing sector remains vibrant, but cracks are coming to the surface. Changes in the workforce demographics and old attitudes about manufacturing as a career threaten the industry’s expansion. It’s time for those who love American manufacturing to double their efforts to engage the next generation,” said Eileen Markowitz, president of ThomasNet.

Technologies are making manufacturing a hotbed of innovation, improving companies’ operations and increasing their growth. For example, manufacturers are boosting productivity with more advanced CAD software, CNC equipment, and cloud computing. They are making custom products through additive manufacturing. They are relying on visual boards for top-line views of their plants and using smartphones and tablets to monitor inventory for stocking and pricing.

A report on the findings can be downloaded at www.thomasnet. com/imb.

Horizon Die expands Illinois stamping facility Horizon Die Co. Inc., a supplier of precision metal stampings, progressive dies, and automation systems, has announced its expansion and the addition of 21,000 sq. ft. of manufacturing space to its East Dundee, Ill., facility.