Promoter of a large manufacturing-led firm made an interesting comment in a recent discussion. He said:
Earlier, I have always believed finance to be the biggest barrier to growth. If I can secure the money for Capex, growth will automatically follow. Now, talent is my bottleneck. Funding I can find, but where do I find the right people.
The comment very well illustrates the significantly sharper focus on talent & culture in manufacturing set-ups in the last 12-18 months. A wide range of issues – from demand as well as supply sides – are driving this change.
Across industries, we see firms reacting by introducing new initiatives to engage, retain and develop talent in the manufacturing function.
Initiative: Assessment Centre for 200 employees across plants
Focus: Identification of hi-pot talent, development plans for all participants
Initiative: Assessment Centres to support promotion decisions across levels
Focus: Enhancing talent quality at middle management level, Consistency in promotion process across 10+ plants
Initiative: Learning Workshop covering all 1000+ employees, 25k+ man-hours of training in FY 2024
Focus: Upskilling existing employees on critical technical and behavioural skills
Initiative: University tie-ups to educate large group of employees on topics like operational excellence & smart manufacturing skills
Focus: Upskilling existing employees on critical technical skills to support on-going automation efforts
Initiative: An in-depth study of the current feedback processes and mind-set in the organization
Focus: Improving feedback mechanisms and strengthening the culture of feedback in the organization
Initiative: Training 200+ managers across locations and plants on feedback skills
Focus: Improving quality of feedback and promoting psychological safety in teams
Human capital is likely to play a more critical role in growth and sustainability in the manufacturing function than ever before. This shift toward a sharper focus on developing manufacturing talent, culture, and leadership development will define the future trajectory of many manufacturing firms.
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