The Equipment Industry Technician Shortage: Causes, Impacts and Policy Recommendations
The Equipment Industry Technician Shortage: Reassessing Causes, Impacts and Policy Recommendations research report provides an updated look at the impact the skills gap is having on our industry, estimates how many technician positions will need to be filled over the next five years, and provides recommendations for addressing the technician shortage.
The AED Foundation, through its Vision 2024 initiative, is creating a steady and robust pipeline of technicians for the future of the equipment distribution industry. By 2024, the Foundation is aiming to reach the following goals; 100 accredited college programs, 50 recognized high school programs, 10,000 skilled technicians entering the workforce, 500 certified managers, 10,000 tests administered, and 5,000 certified technicians.
Concurrent with the report release, the Caterpillar Foundation announced a $300,000 grant to The AED Foundation to fund scholarships to high schools interested in promoting a curriculum that leads to a career in the heavy equipment industry.
Highlights of the report include:
- The need to fill up to 73,500 heavy equipment technicians over the next five years
- The equipment industry has a job opening rate three times higher than the national average
- Almost 90% of AED member dealerships have a job opening rate above the national average
- Among AED member respondents, 95% agree there is a skills gap in the industry and 89% report a shortage of workers in their company
Why is This Report Beneficial to Our Memeberand the Industry?
- Anecdotally, equipment industry stakeholders talk about the negative impact that the technician shortage is having on the industry. This research is critical because it quantifies, in real numbers, the impact of the skills gap/technician shortage for the industry.
- This report reinforces the need to expand the workforce development efforts of The AED Foundation, and other like-minded organizations, to ensure that more qualified entry-level technicians enter the job market
- This report provides critical data to equipment industry stakeholders as they advocate for greater investment in career and technical education in Washington, DC and across North America.
- Policymakers want quantifiable data from a reputable industry organization when they make important decisions, which The AED Foundation delivers.
- Addressing the industry’s technician shortage helps reinvigorate the economy and gets more people into the workforce.
- This research is an essential part of the mission for The AED Foundation because it’s important to gauge where the industry stands today and to understand the workforce outlook over the next several years better.