Insights into the forces shaping our industry.
First Trade Show: Growth in Wire and Cable
I attended my first industry trade shows, the Wire Processing Technology Expo and the Wire Expo in May. I do appreciate all the people and industry leaders who met with me and talked to me about the industry, their companies and the future of wire and cable. Here are the insights I gained from industry leaders centered around market growth and finding qualified talent:
Growth will continue in the Asian markets, European and Middle Eastern regions. The growth segments seem to be in the telecom/data, followed by automotive, then automation. Most companies in telecom/data are focusing on infrastructure and automotive is focusing on electric cars and the infrastructure to support charging stations. Automation will focus on IoT and smart phone controls. Even though wireless applications are increasing, there’s still a need for wire & cable within wireless. I think our industry will continue to grow for some time.
Other conversations revolved around finding talent. There is a severe shortage of manufacturing and operation staff and process engineers. Companies cannot find people who are willing to work in those fields or have the qualifications to perform the job. We are losing leadership to retirement and do not have succession plans in place. With unemployment at 3.9%, there are less job applicants and companies need to understand how to recruit talent. Companies need to streamline and speed up their hiring process. Delays in hiring will result in losing strong candidates to your competition.
Payi Kelly is a contingent and retained recruiter exclusive to the electrical industry with a specialty in Wire and Cable. To learn more about how she can help your company identify and attract talent, check out her LinkedIn profile or send her an email at firstname.lastname@example.org.