Drivers
- Manufacturing companies are pushing for automation in lieu of employees, but they are also upskilling talent to backfill positions.
- Businesses are training their own employees for retention, offering flexible schedules when possible and developing new culture.
- Supply chains are healthy; mild disruptions were reported. Companies examined their procurement during tariff and trade wars and positioned themselves well.
Positive outlook: Companies feel they can keep their employees safe and are very happy their workforce is showing up and adapting. Manufacturing companies are leading the way by exemplifying how private industry is flexible and good at solving problems quickly.
Drawbacks
- Workforce is a concern because there is a lack of applicants and workers are very much in demand. Employers are wondering if wages will rise.
- Childcare and elder care are affecting employee absenteeism.
- It will take a while for output to return and hiring to recover, but production is on the rise.
- With the resurgence of COVID-19, companies are worried about increased health care costs.
- In general, cybersecurity is still not a high company priority in general. Cybersecurity Maturity Model Certification (CMMC) adoption will become increasingly important.
Some companies indicate they are waiting until after the election to make decisions. Economic uncertainty has put some projects on hold. Businesses are paying attention to the resurgence of COVID-19 in Europe and other parts of the world.
