Article about US manufacturing Industry - Sponsored Whitepaper

Article about US manufacturing Industry
Sponsored by:
Business Industrial Network Logo
Business Industrial Network
Download Entire Whitepaper
How the US Manufacturing Industry Deals with Recession

Saint Louis, MO, November 17, 2009 -- A PSA by Business Industrial Network (BIN) about methods for US Manufacturing Industry to adjust for the knowledge vacuum caused by retiring baby boomers with training, while dealing with tight budgets during a recession. The press release article is by BIN president, Don Fitchett.

This article is in response to our survey of 200 companies who requested training quotes, but did not follow through with actual training for their employees in the last two years. Out of 50 who have responded so far, an amazing 40% indicated training budgets were cut, due to the current US economic decline.

Ironically, the training solutions required to train the new workforce entering the market so they can adequately replace retiring baby boomers is also an applicable solution to aid manufacturing companies in surviving the recession. For the biggest part of manufacturing history, training was wrongly viewed as an overhead cost, but in recent years the manufacturing industry has come to recognize the great cost savings realized by increased training.

But what we are starting to see, brought on by the recession, is employee training being set as a low priority again, making it one of the first budgets to get cut. US Manufacturing industry runs the risk of falling into the old paradox manufacturers experienced in the past; “You can't get training because budgets are cut, you can't increase budget because downtime cost has increases due to lack of training”. Very similar and parallel to the paradox “You can't get a good job because of lack of training and experience, and you can't get good training and experience because of lack of a good job”.
Download Entire Whitepaper
Copyright © 2015, Questex Media Group LLC
Company descriptions and contact information are quoted from the company's website or other promotional information. Questex is not responsible for the accuracy of this information. Unless specifically noted, Questex is not sponsored by, affiliated with or otherwise connected with any of the listed companies.