What are we seeing for 2017 when it comes to the Automation Industry? Automation, Sensors, Controls, and Robotics executive search team believes these six talent trends will shape the workforce:
1. Skyrocketing Demand For Automotive Sensors
According to a new report 'Global Markets for Automotive Sensor Technologies', the global market for automotive sensors could be worth more than $26 billion by the end of 2016, rising to in excess of $43 billion by 2021. This growth means increased vehicle production along with further technology developments.
As a result, companies will require more workers with the right skill sets. However, keeping their skills up-to-date will be key. We're seeing more employers moving towards better internal training especially in crucial areas of technology.
2. Talent Raids to Acquire Leaders
Top tier talent is a core factor in the success of any company. Yet there is an insufficient talent pool from which to acquire leadership. This labor shortage is causing those on the front lines to talent poach from competitors. Right now, the competition for highly qualified and experienced leaders is at an all-time high due to several factors including an underinvestment in leadership development and tighter operating margins that influence workforce strategies.
3. Booming Cybersecurity Job Market
The Robotics industry is set to suffer the same cybersecurity problems that other industries have been facing in recent years. This is particularly disturbing for critical tasks such as those performed by surgical or military robots. Therefore, cybersecurity jobs are in high demand. However, the demand for these workers is outstripping supply. Cybersecurity openings have grown three times as fast as openings for IT jobs overall and it takes companies longer to fill cybersecurity positions. The Cybersecurity industry as a whole, is expected to grow from $75 billion in 2015 to $170 billion by 2020, according to Forbes.com. In addition, the demand for the cybersecurity workforce is expected to rise to 6 million by 2019 with a projected shortfall of 1.5 million.
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4. Assessment Tools Play Bigger Role in Hiring
There's a high cost to a mis-hire. The wrong hire can result in outlaying up to one and a half times the new employee's salary. It is also estimated that about 20% of all hires don't work out. That's why talent assessments have become so popular.
Assessing job seekers for culture fit, frontline positions and leadership abilities can cut down on bad hires. In addition, assessment tools are backed by science, which adds a level of certainty beyond a gut feel. These assessments offer an opportunity for Hiring Managers and HR professionals to measure and collect key data around performance and future performance of a potential hire.
5. Many Jobs Coming Back to US
Reshoring or bringing jobs back to the US has been a central theme of this past presidential campaign. However, aside from the election, recent developments including expensive labor abroad and high shipping costs are also factors in bringing jobs back to the US. In addition, according to 24/7 Wall St., companies that are reshoring are also finding that it's beneficial to their image.
Consumer preference is for "made in America" products. Logistical factors are also making reshoring more practical for businesses. In the era of Amazon, in which consumers expect quick turnaround on products, it can be more practical for companies to make products in country to have the product ready for customers faster and avoid shipping expenses.
6. More Millennials Enter Management Roles
Younger professionals are ready to ascend to managerial roles as more than 3.6 million executive level professionals are set to retire. Millennials' management style is expected to bring a big change to corporate America. Rather than the traditional top-down corporate structure, Millennials will manage by focusing on collaboration, transparency, and a democratic approach.
About the Author
Robert Cohn is a Managing Partner of Direct Recruiters, Inc. (DRI). His area of expertise is bringing top talent to the Automation, Robotics, and Controls Industries. To contact Robert, call 440-996-0595 or email him at [email protected].