WEST MICHIGAN BUSINESSES WEIGH-IN Sources: • The Right Place Business Retention Meeting Data • Bureau of Labor Statistics - Local Area Unemployment Statistics The previously described quantitative data from EMSI is critical to understanding the current state of our region, but the aggregated qualitative insights our team receives frommeeting with local companies paints a more complete picture of the economic health of our region. Of the 400 companies our teammeets with annually, most are manufacturers and middle market companies with annual revenue between $1o million-$500 million. (See Figures 2 & 3) GROWTH ON THE HORIZON The majority (61%) of businesses our teammet with in 2018 reported increasing employment, which is down only two percentage points from the previous year’s 63%. 79% of businesses also reported increasing sales, down a slight four percentage points from 2017. (See Figures 4 & 5) Overall, this data shows that while growth did decline nominally, the majority of businesses have a positive outlook for the future. Many companies are reporting plans for upcoming expansions, with nearly 60% expecting toexpand in the next threeyears. These expansion plans, which would include adding to an employment base or investing in capital equipment or buildings, have the potential to continue driving the West Michigan economy forward. Our teamworks as trusted partners to connect these companies to resources, removing barriers to growth and assisting with their continued success in the region. TALENT TROUBLES PERSIST Challenges finding and retaining a talented and skilled workforce continue to plague employers around the region and nation. According to our meeting data, more than 60% of all companies, including 65% of manufacturers, are facing recruitment problems. WhileWest Michigan’s workforce growth rate (9.0%) is more than double that of the state (3.8%) and nation (4.3%), several years of record-low unemployment in conjunction with other factors continue creating barriers for employers looking to hire.
IN DEMAND JOBS & SKILLS
The talent crunch is a nationwide dilemma, with employers around the country experiencing similar workforce woes. Regions able to develop effective solutions will find themselves at an advantage when it comes to global competitiveness. With this in mind, The Right Place continues to work with local and statewide partners to ensure the West Michigan workforce possesses the skills companies need both now and in the future. What jobs and skills are West Michigan's manufacturers and other high-tech companies looking for? Check out the side bar on this page to learn more. Inclusion remains a challenge for many companies that are actively recruiting female and non-white employees. A low supply of candidates combined with an increasingly high demand for the diversification of West Michigan’s workforce presents companies with significant barriers to accomplishing this goal. MOVING FORWARD IN 2020 After combining our insights from West Michigan businesses and the EMSI labor market data our team has analyzed, we expect slightly slower growth as we move towards 2020. However, many of the region’s industries are still experiencing job growth rates that out-pace the state and nation as a whole, and companies plan to invest in their businesses to continue growing their operations. If you would like to meet with The Right Place to discuss your future business opportunities and challenges, please contact us at info@rightplace.org to set up a confidential meeting. A member of our team of experts will visit your company and assist you with accessing a wide variety of resources to keep you competitive locally, domestically, and globally. We look forward to working with you.
What jobs and skills are West Michigan's manufacturers and other high-tech companies looking for? We used EMSI’s job posting analytics tool to validate what we’ve heard from companies.
MANUFACTURING SECTOR IN-DEMAND JOBS: • Machine Operator • General Unskilled Labor
• Assembly • Machinist • Welder • Tool & Die Maker • Engineer – Mechanical
REQUIRED SOFT SKILLS FOR MANUFACTURING JOBS: • Management • Communications • Operations • Sales • Leadership REQUIRED HARD SKILLS FOR MANUFACTURING JOBS: • Continuous Improvement Process • Warehousing • Packaging and Labeling • Automation • Manufacturing Processes I.T. SECTOR IN-DEMAND JOBS: • Software Developer • Sales • UX Designer • Project Manager • Software Engineer • Information Security • Technician
TOP I.T. SKILLS: • IT Service Management
• SQL (Programming Language) • Agile Software Development • Java and JavaScript (Programming Language) • Cascading Style Sheets (CSS)
Source: Economic Modeling Specialists International (EMSI)
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STATE OF OUR REGION
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