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