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The Aging Population & What it Means to the Skilled Trades Sector

More than ever, today’s workforce is facing an aging population representing a radical shift in the skilled trades sector. By 2031, all baby boomers will be eligible for retirement and 30% of workers will be Gen Z. In this week’s post, we will discuss what you need to know and what the implications could be for your business in the years to come.

Lack of Workers–Aging Population

According to the EMSI (a labor statistics provider), the current workforce is facing what experts call a sansdemic. Simply put, sansdemic means lack of people. Because of the lower birth rate and the aging population in the workforce, there is a severe lack of workers, especially in the skilled trades sector. Employers are finding it hard to hire younger generations as Gen Z and Millenials. These generations often gravitate toward jobs in technology or remote positions. The increase in educational pursuits of the next generation has also led to workers wanting to pursue something in their field of study rather than trade jobs.

How This Affects Employers in the Skilled Trades Sector

An article on WV Public Broadcasting’s site states that skilled trade employers should expect to increase their workers’ salaries. While some employers have hired immigrants, there still aren’t enough people to fix the shortage. Unfortunately, this means that there are waitlists for contractors and prices may increase.

One of the main goals across the board is changing the stigma around skilled trade work. Blue-collar jobs have been seen as less desirable or sophisticated. On the flip side, they are also very in demand, provide longevity, and are available in almost every city. Therefore, employers are tasked with educating the younger generations on the value of skilled trades.

Changing Recruiting Strategies

While not a new concept, creating mentorship programs with guaranteed long-term positions can help attract workers. Additionally, the use of AI and updated systems can pique the interest of younger workers. Starting as young as recruiting high school students, some employers have begun to employ a more aggressive recruitment strategy. Helping students understand why production in the States is important and the benefits of skilled trade jobs can help shift the mindset. As new workers enter the workforce, employers can offer temporary positions, allowing young workers to try out a role before committing.

The Benefits of Working with PSU

Fortunately, PSU receives applications regularly from qualified workers who are interested in a skilled trade career. Rather than beating down the proverbial door, we provide you with warm leads who are ready to match with great companies like yours. Our Shelby, NC office also offers referral programs, spreading an even wider net by bringing in referrals from current job seekers we know and have worked with. Check out our FAQ page for more information on how we can help you make recruiting fast and simple. Contact our office today for more information!