With US automotive factories now operating at 95% of capacity, carmakers and parts suppliers are in a race to find engineers, technicians, and factory workers. This activity is putting the auto industry on pace to add jobs at about twice the pace of the US economy in general.
The auto industry is also looking to spend millions on equipment and on new facilities, but it will be harder for most firms to hire qualified labor in the months and years to come.
The actions are entirely consistent with what we have been suggesting to clients and audiences across the country. Hiring, training, new equipment, and new facilities all take an enormous amount of time and energy before the benefits are realized.
We suggest that you use 2014 as a building year in preparation for more business, and more challenges, in the years ahead. Waiting will cost you more while also limiting your upside potential.