Power & Value of Training and Knowledge Transfer - RealWear

A Preview Highlighting The Power & Value of Training and Knowledge Transfer Using Wearable Computers

THE POWER & VALUE OF
TRAINING AND KNOWLEDGE
TRANSFER USING
WEARABLE COMPUTERS

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How Industrial Companies Accelerate
Knowledge Transfer to Bridge the Skills Gap

SOLVING THE INDUSTRIAL SKILLS GAP
WITH VIDEO-BASED TRAINING

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How to deploy wearable computers to effectively
train workers across generations.

A whirlwind of forces has created a chasm between the needs of industrial businesses undergoing digital transformation and the skillsets of available workers. While companies have been attempting to address the lack of properly trained workers for years, the lingering effects of the 2007-2009 recession, increasing impact of an aging workforce and widening skill requirements have only heightened the need for a way to transfer knowledge effectively.

Although nearly a decade has now passed since the Great Recession officially ended, industrial companies can expect to feel its shadow for years to come. Many middle-aged and older technical workers in manufacturing, construction, utilities, warehousing, telecom and other industries found other careers— taking their skills and knowledge with them. In many industries, like oil and gas, which saw prices dive during the economic recovery, these workers weren’t rehired, and few new workers were brought on board to fill those roles. This caused younger workers to choose career paths outside of industrial fields, and the result has been that that most industrial companies have few middle-aged employees today.

The skills gap is expected to increase across industries.
In manufacturing, 27 percent of manufacturing workers over the age of 551 are rapidly

approaching retirement age. In utilities, 72 percent of employers are struggling to fill positions due to retiring workers.2 In aviation, Boeing predicts that 754,000 technicians will be needed to meet demand through 2037.3 And in oil and gas, the gap between older and younger workers is so large that it’s known as “The Great Crew Change.” Workers over 55, or the older crew, make up nearly 50 percent of the industry’s available workforce, and they’re likely to retire in the next seven years.4

 

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