Professional Retail Store Maintenance 2018 Trends Report - 9

DURING THE LAST 50 YEARS, EDUCATION HAS
EMPHASIZED THE IMPORTANCE OF SECURING
A COLLEGE DEGREE. APPRENTICESHIP
PROGRAMS HAVE DECLINED AND
ENROLLMENT IN SKILLED TRADES TRAINING
PROGRAMS HAS DROPPED. THIS TECTONIC
SHIFT IN EDUCATIONAL FOCUS HAS CREATED
THE SKILLS GAP THAT EXISTS TODAY.
According to the 2017 PRSM
Membership Survey, 43 percent of
PRSM supplier members rank hiring and
retaining qualified trade professionals
as one of their biggest challenges. The
report also shows that 44 percent of FM
suppliers are more than 51 years old,
with 11 percent being over 61. Retailers
reported that 34 percent were over 51,
with 7 percent over 61.
The Society for Human Resources
Management (SHRM) reports that
68 percent of HR professionals have
trouble recruiting candidates for full-time
positions, and 62 percent are struggling
to fill important skilled trades positions.

EXPERIENCED BABY
BOOMERS RETIRING
SHRM also reported that the skilled
trades crisis will escalate daily as the Baby
Boomers, born between 1946 and 1964,
retire. The Social Security Administration
estimates that 10,000 Boomers turn 65
every day. By 2020, more than 31 million
Boomers will retire. The experienced
workforce is shrinking daily.
A recent study conducted by Adecco,
one of the largest U.S. recruitment firms,
shows those currently over 45 years old
hold two-thirds of the skilled trades jobs.
More than 70 percent of maintenance
workers and electricians are over
45 years old, with the same or higher
percentages in other skilled trades. The
Associated General Contractors reports
that 74 percent of their members expect
to experience a shortfall in qualified
skilled trades workers in the near future.

The Adecco study estimates that
32 percent of billion-dollar companies
will lose more than $100 million each
as Boomers retire during the next five
years. Compounding the problem,
SHRM reports that less than 50 percent
of companies track the percentage of
employees eligible to retire in the next
couple of years, and very few (4 percent)
have a formal strategy to retain or recruit
(4 percent) older, experienced workers.

FEWER QUALIFIED
JOB APPLICANTS
The skilled trades industry is also
attracting fewer and fewer high school
and college graduates and fewer
programs are available to provide skills
training. This reduces the applicant pool
and only a small percentage of graduates
have the appropriate skills.
The skills gap will cost facilities
maintenance companies millions as they
scramble to replace retiring workers,
provide incentives to keep existing
skilled labor and recruit or train the
future workforce.
While the SHRM study revealed
34 percent of companies had not
taken any steps to prepare for potential
skills gaps that will result from older
employee retirements, 54 percent had
implemented training and/or crosstraining programs to transfer knowledge
from older to younger workers, 33
percent had mentoring programs, and 26
percent used job-shadowing.
With older workers retiring and the
number of new qualified applicants

diminishing, the industry faces two
major challenges: a rapid loss of
the institutional, experienced-based
knowledge that exists in older workers
and, how to attract, train and retain new
employees.

ADDRESSING THE SKILLS GAP
Addressing the skills gap issue in retail
facilities management will require a
multi-pronged approach that cuts
across the industry and begins with
re-positioning the industry as an attractive
occupation. During the 1950s and '60s,
skilled trades jobs were highly prized
and thousands of high school graduates
entered apprenticeship programs,
attended tech schools and secured the
tech training needed to supply a growing
industry and nation. They are the skilled,
experienced workforce in place today.
During the last 50 years, education has
emphasized the importance of securing a
college degree.

APPRENTICESHIP
PROGRAMS DECLINED
Apprenticeship programs have declined
and enrollment in skilled trades training
programs has dropped. This tectonic shift
in educational focus has created the skills
gap that exists today.
Dr. Eugene Giovannini, Chancellor,
Tarrant County College, which serves
more than 100,000 students annually,
believes the skills gap crisis can be
solved, but it will require a coordinated
effort by: industry, educational
institutions and government.
www.prsm.com I 2018 TRENDS REPORT I 9


http://www.prsm.com

Table of Contents for the Digital Edition of Professional Retail Store Maintenance 2018 Trends Report

What’s Driving Retail Trends – Retail Transitions From Ecommerce to Newcommerce
The Skills Gap Crisis
A New Era of Retail
Making the Mark
FM Tech Trends – Tapping Into Tomorrow Today
Direct to the Customer – Retailers Streamline Fulfillment
Contributors
Advertisers’ Index
Professional Retail Store Maintenance 2018 Trends Report - Intro
Professional Retail Store Maintenance 2018 Trends Report - cover1
Professional Retail Store Maintenance 2018 Trends Report - cover2
Professional Retail Store Maintenance 2018 Trends Report - 3
Professional Retail Store Maintenance 2018 Trends Report - 4
Professional Retail Store Maintenance 2018 Trends Report - 5
Professional Retail Store Maintenance 2018 Trends Report - 6
Professional Retail Store Maintenance 2018 Trends Report - What’s Driving Retail Trends – Retail Transitions From Ecommerce to Newcommerce
Professional Retail Store Maintenance 2018 Trends Report - The Skills Gap Crisis
Professional Retail Store Maintenance 2018 Trends Report - 9
Professional Retail Store Maintenance 2018 Trends Report - 10
Professional Retail Store Maintenance 2018 Trends Report - 11
Professional Retail Store Maintenance 2018 Trends Report - A New Era of Retail
Professional Retail Store Maintenance 2018 Trends Report - 13
Professional Retail Store Maintenance 2018 Trends Report - 14
Professional Retail Store Maintenance 2018 Trends Report - 15
Professional Retail Store Maintenance 2018 Trends Report - Making the Mark
Professional Retail Store Maintenance 2018 Trends Report - 17
Professional Retail Store Maintenance 2018 Trends Report - 18
Professional Retail Store Maintenance 2018 Trends Report - 19
Professional Retail Store Maintenance 2018 Trends Report - FM Tech Trends – Tapping Into Tomorrow Today
Professional Retail Store Maintenance 2018 Trends Report - 21
Professional Retail Store Maintenance 2018 Trends Report - Direct to the Customer – Retailers Streamline Fulfillment
Professional Retail Store Maintenance 2018 Trends Report - 23
Professional Retail Store Maintenance 2018 Trends Report - 24
Professional Retail Store Maintenance 2018 Trends Report - Contributors
Professional Retail Store Maintenance 2018 Trends Report - Advertisers’ Index
Professional Retail Store Maintenance 2018 Trends Report - cover3
Professional Retail Store Maintenance 2018 Trends Report - cover4
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