SURVEY REPORTS:

Skills Shortage Threatens Growth of US Manufacturing

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Accenture 2014 Study with Manufacturing Institute
Source: 
Accenture

Skill shortages - particularly of vocational skills in the manufacturing sector leaves jobs unfilled.  That's where the news coverage usually stops.  These unfilled jobs create negative impacts within the company - increased downtime, increased cycle time and increased overtime costs.  for a 2000 person company with $500 million in annual revenues, that results in $4.6million in reduced annual earnings (about 11% of their annual profits) according to this Accenture study with the Manufacturing Institute.

Why Is This Relevant To The Midmarket: 

Manufacturing is the second largest sector among midmarket and SME companies.  The skill shortage affects them in a big way.