finance
Ford and GM Invest in Training Programs as Manufacturers Report Worker Recruitment Challenges
Jim Farley detailed the crisis in a new episode of his podcast 'Drive,' scheduled for release Friday. The Ford chief executive cited impacts ranging from higher costs to lost opportunities while outlining company efforts to address the gap. Industry data and rival actions underscore the breadth of the challenge.
May 7, 4:23 AM·1m read1 source
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" The comments came in a new episode of his podcast "Drive" scheduled for release on Friday. Ford shared a transcript of the episode ahead of its release with Business Insider. Farley has publicly raised concerns about a shortage of skilled workers for the past year.
Nearly half of US manufacturers say attracting and retaining workers is a top challenge, according to the National Association of Manufacturers' latest quarterly survey. 1 million unfilled manufacturing jobs by 2030. " Ford told Business Insider in January about plans to attract new workers including offering incentives like free Carhartt gear and to invest in a Detroit-based ToolBank USA location.
In September, the company organized a workforce development summit that convened industry leaders and policymakers. " The Detroit automaker is not alone in trying to close the gap. General Motors has invested nearly $200 million over the past year to expand training programs and apprenticeships.
Jim Farley is the CEO of Ford. The automaker's actions over the past year reflect a sustained push to rebuild what Farley calls the essential economy. Industry surveys and long-term projections indicate the shortages extend well beyond any single company.
