The manufacturing sector encourages government to set new 15% GDP target.
In last weeks edition of the Manufacturer, there was an interesting article about the challenges the manufacturing sector continues to face in recruiting but included in this was some exciting targets it is looking to set for itself in growth of GDP.
Our UK manufacturers remain aggressive in their ambitions to grow the sector, against a backdrop of global supply chain issues, energy cost increases and skills shortages. It continues to drive innovation and set ambitious goals.
Manufacturing has benefited from a super deduction on money invested in plant and machinery and the call to government now is to provide a super deduction for recruitment, allowing the industry to drive investment in training and employment. The industry faces a backdrop of misconceptions, and struggles against the tech and engineering sectors to bring in new talent. Employers in the sector remain best placed to show case what an exciting blue chip industry manufacturing has become.
Like with other product intensive industries, manufacturing is unable to benefit from the bonuses of offering remote working, with 28% rise in job adverts for remote jobs, this is an area manufacturing cannot compete, heavy machinery and often expensive high-tech equipment, it can be labour intensive and inflexible. A super deduction, even short term would enable the sector to provide other incentives to drive new recruits into the sector, some of the suggestions are higher pension contributions, better bonus schemes and upskilling internally.
Super charging the sector does seem possible. The most recent ONS data suggests there is a strong pool of workers still available in the economy, but greater incentives are needed to encourage then back to the workplace.
Our team of experts in the manufacturing and industrial sectors are talking to candidates every day, if you are a manufacturing employer struggling to recruit, we would love to hear from you.