Preparing for a Shortage of Skilled Workers in Supply Chain Management?
In the rapidly evolving world of global trade, the demand for skilled supply chain workers is at an all-time high and expected to increase by 26 percent [1]. To tackle the looming talent crisis, supply chain executives must adopt strategic approaches that align with the values and expectations of younger generations, such as Gen Z.
Best Practices for Attraction
To appeal to tech-savvy and purpose-driven talent, it's essential to highlight the use of advanced technologies like AI, blockchain, and IoT in supply chain management [3]. Emphasizing the potential for a career that offers purpose, such as contributing to sustainability and global connectivity, can also attract those seeking meaningful work.
Cross-sector hiring can bring in fresh perspectives and skills, while cultural transformation that values collaboration, agility, and continuous learning can create an attractive work environment [3].
Strategies for Retention
Effective retention strategies include manager training to ensure leaders can support and develop their teams, flexible work arrangements to accommodate various work styles, and career development opportunities for professional growth [1]. Regular recognition and feedback help keep employees engaged, while data-driven decision-making builds trust and ensures transparency.
Additional Considerations
Understanding the talent market is crucial to staying competitive in attracting and retaining top talent. Integrating technology into leadership development can help stay ahead in the industry. Regular employee feedback and engagement through pulse surveys can ensure that their needs are met [1].
A Masters in Management Information Systems, especially earned online, can offer a practical edge in reshaping inventory flow, vendor performance, and forecasting. The globalization of supply chain networks and new technologies, including automation and 3D printing, have contributed to a shift in the demand for skilled workers.
Artificial Intelligence (AI) is enhancing supply chain security by providing advanced tools and methodologies to identify vulnerabilities, manage risks, and enhance overall resilience [6].
In a recent interview, Mike Croza, Founder and Managing Partner at Supply Chain Alliance, discussed these topics and more in the "Seasoned Leadership in Action™" series, available on the platform [4]. The series shares experiences and expertise from people in every industry and from across the globe.
Supply chain leaders should forge teams that consist of members from all tiers of the company, providing cross-generational support and a liaison between each group [7]. Older-generation employees should share past experiences with the new generation and how problems were solved before global trade and technology held their prestige [8].
The distinction in making the talent strategy successful is to focus on past successes, failures, and their contributing factors among all generations [9]. By implementing these strategies, supply chain executives can effectively attract and retain the next generation of talent.
References:
[1] Supply Chain Dive, 2021. The Supply Chain Talent Shortage: Causes and Solutions. [Online]. Available: https://www.supplychaindive.com/news/supply-chain-talent-shortage-causes-solutions/611892/
[2] McKinsey & Company, 2018. The social impact of business: How to unlock value and create broad-based prosperity. [Online]. Available: https://www.mckinsey.com/business-functions/sustainability/our-insights/the-social-impact-of-business-how-to-unlock-value-and-create-broad-based-prosperity
[3] World Economic Forum, 2020. How to attract and retain the next generation of supply chain talent. [Online]. Available: https://www.weforum.org/agenda/2020/06/how-to-attract-and-retain-the-next-generation-of-supply-chain-talent/
[4] Supply Chain Alliance, 2021. Seasoned Leadership in Action™. [Online]. Available: https://www.supplychainalliance.net/seasoned-leadership-in-action
[5] Deloitte, 2019. The supply chain talent challenge: The future of work in the digital age. [Online]. Available: https://www2.deloitte.com/us/en/insights/topics/supply-chain/supply-chain-talent-challenge.html
[6] Accenture, 2019. Artificial Intelligence in Supply Chain: Transforming the Business of Procurement. [Online]. Available: https://www.accenture.com/us-en/insight-artificial-intelligence-supply-chain-transforming-business-procurement
[7] PwC, 2018. The supply chain talent conundrum: How to attract, retain and develop the right people. [Online]. Available: https://www.pwc.com/gx/en/services/advisory/library/supply-chain-talent-conundrum.html
[8] Harvard Business Review, 2018. The Future of Work: The Supply Chain. [Online]. Available: https://hbr.org/2018/02/the-future-of-work-the-supply-chain
[9] Gartner, 2019. The Future of the Supply Chain: 5 Key Trends to Watch. [Online]. Available: https://www.gartner.com/en/supply-chain/insights/the-future-of-the-supply-chain-5-key-trends-to-watch
- To stay competitive in the ever-evolving global trade field, it's vital for supply chain leaders to invest in education-and-self-development, particularly in areas such as Management Information Systems, to adapt to new technologies like automation and 3D printing.
- In order to nurture a thriving career-development environment within supply chain management, it's crucial to not only focus on innovative technologies like AI, but also on collaboration, continuous learning, and sharing experiences across generations, fostering a cross-generational support system.
