With a skills gap plaguing manufacturing in a historically tight labor market, companies are spending big to “upskill” their current workforce and ensure a pipeline of talent.
Manufacturers are set to spend $26.2 billion on internal and external training initiatives for new and existing employees in 2020 to combat the shortage of available workers, according to the Manufacturing Institute.
Nearly 70% of manufacturers said they are creating or expanding training programs for their workforce. Three-quarters of respondents said upskilling workers helped to improve productivity, promotion opportunities and morale.
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