Finding the right talent has become increasingly challenging in the Engineering and Manufacturing sector, where innovation and productivity are key drivers of success. In this blog, we will explore the severity of the skills shortage, the concept of the "war for talent," and how Scantec, as a leading recruitment agency specialising in the Engineering, Scientific, Manufacturing, and Technical sectors, can help bridge the gap.
Section 1: The Ongoing Skills Shortage in Engineering and Manufacturing
The continuing skills shortage in the Engineering and Manufacturing sectors is a pressing concern that has far-reaching consequences. Recent trends highlight the severity of the issue. According to a report by the Engineering UK, the demand for engineers outstrips supply, with an estimated annual shortfall of 59,000 skilled professionals. This shortage not only affects the ability of companies to meet their immediate needs but also hinders long-term growth and innovation.
The impact of the skills shortage on businesses cannot be overstated. Companies struggle to find qualified candidates to fill critical roles, leading to delays in projects and decreased productivity. Moreover, the lack of skilled professionals impedes innovation and the adoption of new technologies, putting companies at a competitive disadvantage. It is clear that addressing the skills shortage is essential for long-term success.
Section 2: The War for Talent: Why It Matters
In today's job market, the competition for top talent is fierce, leading to what is commonly known as the "war for talent." Companies across industries are vying to attract and retain skilled professionals who can drive innovation, productivity, and ultimately, business success. The ability to acquire top talent directly impacts a company's growth and competitiveness.
In the Engineering and Manufacturing sectors, the war for talent is particularly intense. The demand for specialised skills and expertise is high, while the supply remains limited. Companies that fail to attract and retain skilled professionals risk falling behind their competitors and losing market share. It is crucial for businesses in these sectors to adopt effective talent acquisition strategies to stay ahead in this highly competitive landscape.
Section 3: Scantec's Role in Bridging the Gap
As a leading recruitment agency with extensive expertise and specialisation in the Engineering, Scientific, Manufacturing, and Technical sectors, Scantec is uniquely positioned to help clients navigate the skill crisis.
Sara Frith, Divisional Director in FMCG Division says she has seen an increase in requests to conduct salary benchmarking for her clients in the sector.
“Those companies who are adapting quickest are the ones that are winning the war for talent. We have seen an increase in requests to conduct salary benchmarking on behalf of our clients. This is something we have the knowledge, data and expertise to easily do for them.
It is then up to them to act on this information and we have found that those who take on board the results and increase salaries inline with the market are the ones that secure the talent.”
Of course it’s not only about salaries, as discussed in our previous blog Understanding What Matters Most to Candidates: Beyond Salary and Benefits. But the ability to listen to the market and adapt is still the same and often the difference between securing the best talent and struggling to fill roles.
If you're looking to overcome the skills shortage and win the war for talent in the Engineering and Manufacturing sectors, partner with Scantec today. Visit our website to learn more about their specialised recruitment solutions and take the first step towards securing the right talent for your business.