The semiconductor industry is undergoing an unprecedented inflection—not in its technology, but in its very structure. This transformation is happening at a time of phenomenal growth, presenting both opportunity and crisis. The ingredient most critical to meeting the growth demands, but which also poses the greatest risk, is workforce. There will not be nearly enough skilled workers to fill all roles. The history of such industrial inflections suggests many companies will under-prepare, and then over-react. To their detriment.
This webinar addresses a key, and often overlooked, and maybe unexpected ingredient to weathering such crises—employee onboarding.
Join us at 13:00 EST on September 5th, 2024, hosted by Chipquest. Register here.
The Compounding Forces Behind the Workforce Crisis
This workforce crisis is not driven by one or two independent factors, but by several compounding forces that are reshaping the industry landscape:
Expanded Demand Across Multiple Fronts: The demand for semiconductors is skyrocketing across various sectors:
- Consumer Electronics: More laptops, smartphones, and other devices are being produced than ever before.
- Data Centers: The surge in digital transformation during the COVID-19 pandemic has increased the need for server farms to support cloud computing, e-commerce, and streaming platforms.
- IoT and Automotive: The proliferation of IoT devices and the shift toward electric and autonomous vehicles are driving exponential increase in use cases.
- Artificial Intelligence: AI and machine learning applications are generating a new wave of need for advanced, high-performance chips.
Supply Chain Redundancy and Geopolitical Tensions: Geopolitical tensions have led to a push for on-shoring, reshoring, or near-shoring semiconductor manufacturing:
- Companies like TSMC and Amkor are expanding their manufacturing footprint to countries where they never had a presence before.
- This duplication of infrastructure requires additional skilled workers, further stretching the already limited talent pool.
Technology Sovereignty as National Security: The global race for semiconductor supremacy has become a matter of national security:
- Governments are investing heavily in domestic semiconductor capabilities. Newcomers like India and Vietnam are entering the semiconductor race, intensifying competition for talent.
- The CHIPS and Science Act and similar initiatives in other nations aim to secure technology sovereignty, further escalating the need for skilled professionals.
Workforce Dynamics and a Changing Labor Landscape: The semiconductor workforce is already greatly reduced from its earlier peak industry is already facing a significant workforce gap due to early retirements, layoffs, and competition from other tech sectors:
- A net exodus of workers due to layoffs, early retirements and pilfering of key talent by adjacent industries.
- Declining interest in manufacturing roles, particularly among younger demographics.
What’s Being Done—and What’s Missing
Public-private partnerships, government funding, and renewed focus on education and apprenticeships are all steps in the right direction. While these initiatives do create a more knowledgeable pool to draw from, they do not serve to integrate new workers into the actual workplace, where the immensity of systems, procedures and policies readily overwhelm new workers..
A New Approach: Modernized Onboarding and Training
One critical aspect that continues to be overlooked is the effectiveness of onboarding and training within individual companies. Traditional methods—relying on static PDFs and uninspiring safety training—fail to engage new employees. This not only leads to costly mistakes but also impacts retention rates.
To address these challenges, the semiconductor industry needs innovative solutions that can modernize onboarding and training. Methods like gamification and microlearning offer a glimpse into how training can become more engaging and effective, better aligning with the expectations of today’s digital-native workforce.
Join Us to Learn More
The semiconductor industry is transforming, and companies must adapt their workforce strategies to stay competitive. Join Chipquest’s upcoming webinar, “Workforce Armageddon: Onboarding New Hires in Semiconductors,” to explore these critical challenges and the innovative solutions that can help your organization thrive.
Register now to secure your spot!
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