As industrial manufacturing evolves, increased adoption of technologies that enable the workforce to visualize the future and drive smart manufacturing operations means that decision-makers need to know how to best optimize costs and enable a workforce that needs to both engage with and analyze data from advanced technologies and platforms.
Recruiting and retaining talent with the skills critical for today and tomorrow is a priority across sectors, including advanced manufacturing. In fact, nearly 40 percent of manufacturing CEOs are "investing in digital training, development and upskilling to ensure employees' skills remain future-focused." As leaders in the industry seek value-creating opportunities for their investors and shareholders, they will need to take a proactive approach to balancing cost optimization with workforce impacts.
Talent assessment is an important first step in this process. With increasing competition for labor, it is critical to have a sustainable talent strategy to ensure a robust, well-equipped modern workforce. Considerations around upskilling the current workforce instead of recruiting or outsourcing are critical. A sustainable talent strategy is an imperative for future growth.
KPMG's National Audit Industry Leader for Industrial Manufacturing, Anne Zavarella, highlights how emerging technologies and talent development strategies can help drive organizational growth in a piece in the Journal of Accountancy. You can read it here.
 KPMG U.S. 2021 U.S. CEO Outlook, https://home.kpmg/us/en/home/insights/2021/08/us-ceo-outlook-2021.html.