By manufacturinggps & Excellence in manufacturing consortium
The Ongoing Need for LMI
” Labour market information (LMI) is key to the success of any industry. Workers need to know what work is available and what benefits are being offered by employers. Employers need to understand the supply of labour and current compensation rates by occupation. The Canadian manufacturing sector is no different; both workers and employers in the manufacturing sector need a cohesive source for all LMI, yet one that responds to the differing needs across sub-sectors and geographic manufacturing hubs.
In the past, the LMI available to the Canadian manufacturing sector was limited. Due to the mobility of labour from within and from outside Canada, and from one industry to another, manufacturers needed an LMI system that forecasted the supply and demand of the workforce from a pan-manufacturing perspective and accounts for competition for workers from other sectors. The sector needed a trusted source of more than traditional LMI, that also included HR benchmarks and other market information. To remain competitive in a globalized market, manufacturers, workers, economic development agencies, governments, and other industry stakeholders needed better LMI.
The first stage of meeting this need was the creation of the ManufacturingGPS by the Excellence in Manufacturing Consortium (EMC). This unique platform was designed to collect and maintain LMI across the manufacturing sector, including 15 sub-sectors and over 50 manufacturing hubs. Between 2014 and 2017, ManufacturingGPS collected and reported on data for nine occupational groups provided by over 2,500 employers and by over 100 educational institutions. Through this platform, manufacturers, workers, economic development agencies, governments, and other industry stakeholders have accessed the critical LMI they needed.
Despite this success, the challenge to any LMI initiative is to maintain momentum. Over the succeeding few years, the numbers of employers providing data ebbed. And yet manufacturers, workers, economic development agencies, governments, and other industry stakeholders still demanded this information. It was time for the next stage of ManufacturingGPS: ensuring that ManufacturingGPS remains evergreen and responds to the ongoing need to support the manufacturing workforce.
Furthermore, employers needed to make informed decisions around skills development: How much should they be investing? Should they be investing in occupation-specific technical skills or foundational skills, such as literacy and numeracy? What kinds of training mechanisms should they be employing?”
To view and consult the full report, click here : https://5702860.fs1.hubspotusercontent-na1.net/hubfs/5702860/GPS%20Foundation%20Report%202021-22.pdf?utm_campaign=National%20Update&utm_medium=email&_hsenc=p2ANqtz-8iYxkrCb4lF9bAcgJTjsQZWMe6Lbw31QvR4gQjlb6edYRcgpnxVPdW00WSpSH_oWJoMRqeNQ87fmzviy9ydTjTaG0Kfw&_hsmi=226857775&utm_content=226857775&utm_source=hs_email&hsCtaTracking=236e6c83-cde9-4841-9151-ac258f6a11d2%7C347c548e-cbc3-4fd5-af37-c2f2f2dd5865