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The need for skilled talent in engineering and manufacturing continues to surge in 2024—but does supply meet the demand?
According to the Bureau of Labor Statistics, employment of engineers is expected to grow 4% with over 60,000 new jobs added. Similarly, there was an increase of more than 36,000 jobs in the manufacturing sector from December 2023 to January 2024.
Despite a mounting number of open roles, many of them continue to go unfilled. Our recent Talent Trends report confirms this, revealing that 35% of organizations in the industry found it difficult to hire over the last twelve months.
As a result, understanding the industry’s current job market and the most in-demand engineering and manufacturing jobs can help you refine your hiring strategy.
Previously an employer-driven market, engineering and manufacturing candidates will enjoy more bargaining power in 2024 as hiring managers struggle to get approvals for roles that need to be filled, leading to higher turnover and, therefore, a higher number of job openings.
The engineering and manufacturing companies that found it challenging to hire over the last twelve months cited the following as top reasons:
The increase in labor demand comes alongside a rise in open roles that require specialized training, as many functions now incorporate more innovations, such as AI, robotics, and automation. Additionally, hiring managers are on the hunt for professionals with more specialized skills, including communication, analysis, and leadership.
The level of demand for candidates will increase to potentially 2022 levels... we’ve seen more momentum in hiring across all fields.
David Dvoskin, PageGroup Director of Engineering & Life Sciences
For companies navigating a candidate-driven market, understanding what candidates want is essential to attract top talent for your open roles.
According to our survey, salary is most important to 82% of respondents in engineering and manufacturing. To reinforce the importance of competitive salaries: 52% of engineering and manufacturing professionals said they were looking for a new job for a better salary.
For more competitive benchmarking, download our 2024 Engineering & Manufacturing Salary Guide.
However, salary is not the only factor candidates will consider. Over half (56%) of engineering and manufacturing employees believe work-life balance is most important in terms of job satisfaction. As a result, organizations are likely to receive more applications from qualified candidates by implementing flexible working conditions when possible.
Our engineering and manufacturing recruiters have the industry knowledge and experience to help expedite the hiring process—it takes us less than thirty days to place candidates in our clients’ open engineering and manufacturing roles.
Learn more about our expertise in recruiting for engineering and manufacturing jobs or request a call to get in touch with our consultants.
Find out what talent insights our survey of almost 50,000 professionals across 37 markets has uncovered and what it means for employers.
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