Manufacturing Industry: Calling All Millennials

Factoring for Manufacturing

Manufacturers Must Find Ways to Attract New Employees to the Industry

Manufacturing companies are moving towards the future. Their first step? Making the  industry appealing to millennials. General Electric is one of many manufacturing companies that is trying to make manufacturing more about technology in order to appeal to the younger generation.

Manufacturing has come a long way, but not without misconceptions still on its heels. Many people think of manufacturing as an industry in decline. This is no longer true. The problem is, baby boomers are retiring. This is leaving a huge gap in industrial industries that need workers. Manufacturers, among many, will need to work hard to attract the millennial generation. According to The Wall Street Journal, there will be two million open manufacturing jobs by 2025.

What millennials don’t know is that manufacturing salaries are right in line with other popular industries. The average manufacturer is making close to $80,000 a year. How is this possible? Well, many manufacturers are partnered in the pharmaceutical industry, making lifesaving medicine for many different diseases. If you’re reading this article on your desktop, tablet or mobile device, you can thank the manufacturing industry.

Manufacturing and the Growth of Virtual Reality 

Speaking of technology, the work of virtual reality (VR) is making its way into the manufacturing industry. GE has used VR to attract millennials to ensure them that manufacturing is not an old deceased industry. GE has taken VR on the road to job fairs across the country. Students get to wear VR gear and experience firsthand, the newest locomotive that GE has created as it speeds across mountainous roads. Not really your style? You can also get on board GE’s oil and gas recovery machine and learn how U.S. gets its resources.

GE isn’t the only company cashing in on the technology. Cleveland’s Lincoln Eclectic Holdings Inc. allowing youngsters to try their hand at welding from the comfort of a VR headset. This technique not only encourages students to consider manufacturing as their career path, but allows professionals in industry recruit the best candidates for the positions.

Is Your Manufacturing Company Looking to the Future?

Manufacturing isn’t going anywhere. It’s expanding, learning, and creating. Is your manufacturing company moving towards the recruitment of millennials and the use of VR? If so, you may need more working capital to cover all these growing projects. Factor Finders can get your business the funding it needs to expand and keep alive in the manufacturing industry. Let us get you set up with a funding program today.