Te finance piece is fairly black and white: in order to attract and grow a younger workforce, companies are likely going to have to pay more or at least offer an opportunity with financial growth as a key component. Be that as it may, there’s also a school of thought that suggests that skilled-trade companies can do themselves a huge favor by properly explaining these financial opportunities—in no uncertain terms— whenever they’re in front of a prospective pool of potential employees. Since information is king—especially in the attention economy—there’s no time better than the present to explain to young prospects exactly what they’re looking at in terms of salary and growth potential. With millions of Americans currently swimming in college-loan debt, statistics reveal that more young people than ever are looking for a way to enter the job market without taking loans via higher education. Maybe this will serve as an eye opener. According to the (U.S.) Bureau of Labor Statistics, a typical salary for a carpenter can range from $40,000–$80,000 per year. Construction equipment operators range from an average of $45,000 up to $80,000 per year. Construction managers typically make between $90,000 and $160,000 a year. Electricians land somewhere between $50,000 and $90,000. Ironworkers average around $50,000 and can make up to $90,000. And depending on the type of driver, truckers can earn anywhere between $40,000 and over $100,000 per year.
CAREER VS. JOB While wages certainly lead or almost lead the way in attracting young talent, it’s important to remember that companies in all industries that focus solely on salary increases and bonuses to prevent turnover consistently come up short in respect to keeping their talent. A good employee-retention strategy includes intangibles such as quality relationships, growth potential, strong mentoring programs, and overall corporate culture. Over the last few years, often through trial and error, we’ve come to understand that this is especially true with today’s younger workers. It falls on industry as a whole to work diligently to
solve this problem. Business leaders across the country and the globe are leaning more and more towards a belief that industry will ultimately have to save itself—which means taking a proactive stance in attracting, training, and maintaining a new generation of skilled workers to carry the industry forward. If the next generation of workers desire a career more than just a job, then that’s what industry should be offering—and the education/outreach piece to that puzzle can’t be emphasized enough. Today’s young workforce will be the ones to carry the skilled trades into the future, however that shapes out. Like the ones that came
before them, they will spend more time working than doing almost anything else. So that work has to mean something—both existentially and financially. Businesses will have to remain flexible, adaptable,
and appreciative of this emerging workforce—while leveraging the balance between what they already know about the industry and what they can learn from the folks representing its future. y
Do you have a recruiting or coaching strategy that has worked for your business? If you have thoughts you’d like to share with our readers on this important topic, contact
editor@wireropeexchange.com.
WIRE ROPE EXCHANGE MARCH–APRIL 2019 35
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