The manufacturing industry is at a crossroads. With an aging workforce and an insufficient pipeline of skilled workers to fill the gap, companies are facing a looming labor crisis. As Baby Boomers retire, a significant number of skilled tradespeople are leaving the workforce, and the younger generations are not stepping in fast enough to replace them.

So, how can manufacturers plan ahead to meet their organizational goals and remain competitive in an ever-evolving market?

One key solution lies in strategic workforce planning—and more specifically, implementing the “Six B’s” approach to building and managing your workforce.

1. Build: Develop Your Existing Talent

The first “B” focuses on nurturing the talent you already have within your organization. Building involves investing in the development of your current employees through training, education, and promotional opportunities. This strategy is a long-term solution, requiring commitment and buy-in from all levels of the organization.

By focusing on upskilling or reskilling your workforce, you not only increase the capabilities of your team but also create a culture of growth and development. This approach can be particularly attractive to younger job seekers who are eager for opportunities to learn and advance in their careers. Building a strong internal workforce ensures that your organization is preparing for the future, even if the market is uncertain.

2. Buy: Bring in External Talent

While building talent internally is essential for long-term success, sometimes immediate needs arise that require external expertise. This is where the “Buy” strategy comes into play. Bringing in new hires from outside your organization allows you to fill gaps quickly and inject new skill sets or experiences that are needed right away. However, this approach can be costly and time-consuming, as it takes time for new employees to acclimate to your company culture and build relationships within the team.

Buying new talent can be an effective short-term solution, but it’s important to have a well-thought-out plan beyond simply filling positions. Make sure the talent you bring in is aligned with your long-term goals and that the integration process is smooth and efficient.

3. Borrow: Leverage External Resources

When flexibility and cost savings are priorities, the “Borrow” method provides an ideal solution. Borrowing involves hiring external resources such as contractors, freelancers, or consultants for specific, short-term projects or initiatives. This approach allows companies to adjust quickly to changing business demands without the long-term commitment of permanent hires.

Borrowing talent can be especially valuable in uncertain market conditions, providing a temporary workforce that can be scaled up or down based on the needs of the business. Additionally, companies can avoid costs associated with full-time employees, such as benefits and retirement plans, making this strategy an appealing option for many manufacturers.

4. Bind: Retain Critical Employees

The “Bind” strategy focuses on retaining your high-performing and critical employees—those who possess essential knowledge about your company’s operations, systems, and culture. These employees are invaluable to your organization, as they not only help maintain productivity but also mentor newer team members and foster company morale.

Retention is key when it comes to these high-value employees, as their departure could significantly impact your organization. Offer them opportunities for growth, acknowledge their contributions, and make them feel valued to ensure they stay with your company long-term. This will help to stabilize your workforce and maintain your company’s overall efficiency.

5. Bounce: Remove Underperformers

Sometimes, the best way to improve overall productivity is to remove employees who are not contributing to the organization’s success. The “Bounce” strategy involves letting go of underperforming employees or reskilling those in redundant roles. Removing these individuals from your team can lead to improved performance across the board, as the remaining employees are no longer burdened with picking up the slack.

This strategy also sends a clear message about maintaining high standards and fostering a positive work environment. When employees know that their performance is directly tied to their job security, it often leads to increased engagement and better overall morale.

6. Boost: Accelerate Leadership Development

The final “B” focuses on preparing the next generation of leaders within your organization. To ensure a seamless transition during leadership changes, it’s important to identify high-potential employees and invest in their development. This could include mentoring, cross-training, or on-the-job training to help them build the skills necessary for future roles.

By having a clear plan for leadership succession, you can ensure that your company is prepared for the challenges ahead and that you’re cultivating a strong bench of talent to step into key positions when needed.

Conclusion

No matter what employment challenges your manufacturing company is facing, the Six B’s of workforce planning offer a flexible and effective framework for addressing them. Whether you’re building talent internally, bringing in new hires, or leveraging external resources, implementing a combination of these strategies will help you shape a workforce that is prepared for the future. With thoughtful workforce planning, manufacturers can navigate today’s labor crisis and remain competitive in the ever-changing marketplace.