About five years ago, I visited one of our machining suppliers. During our tour, he told me that he could grow quickly if he could only find machinists. But, since he couldn’t find any, he was just raising prices and people were paying them.
Last year, the Automotive Industry Action Group worked with Deloitte Consulting LLP to compile survey data in a report they called Quality 2020. In that report, the survey respondents identified the most critical issues impacting quality. In their top five was “Loss of Experience.” The report states:
“Over three-quarters of respondents rate their organizations, at best, moderately capable of preserving and transferring knowledge. However, over one-third of OEM respondents report somewhat or no capability.”