Issuu

NOVEMBER 2024 NOVEMBER 2024

Q3 2024 Regional Benchmark Survey Participants

Christie Clinic, PLLC

Crosspoint Human Services

DynaChem, Inc

EnvirOx, LLC

Fischer National Bank

Gateway Family Services of Illinois

Hyster-Yale Materials Handling, Inc.

Illume Counseling and Wellness Center

Longview Bank

Mervis Industries

Silgan Containers

thyssenkrupp Crankshaft Company, LLD

thyssenkrupp Dynamic Components

Towne Machine Tool Co., Inc.

Participation

Vermilion Advantage I Regional Benchmark Survey

Learn more about the benefits of becoming a cluster member.

Learn more.

Organizational Highlights

Full-time Headcount

Revenue Projections

Will your company meet your overall revenue goals for the year?

Vacant Full-time Positions

Average vacant positions = 3.4

The survey reflects strong engagement across key industry clusters, with manufacturing as the largest group, followed by healthcare, technology and service, and logistics. This distribution aligns with the region's economic structure, where manufacturing remains dominant, and healthcare and technology are stable as significant sectors. This mix provides a comprehensive view of workforce needs across both established and growing industries.

Vacancies remain low overall, indicating that while staffing challenges are present, they may not be severe across the board. However, union roles have slightly higher vacancy rates, suggesting that employers may struggle to find suitable talent for these specialized positions. This trend points to a possible gap in skilled labor availability for roles governed by union agreements.

Revenue expectations are mixed

but lean toward optimism, with most employers anticipating that they will meet or exceed their goals. However, a portion remains uncertain or anticipates not meeting targets, reflecting caution influenced by economic conditions or sector-specific pressures.

Together, these findings highlight a stable workforce environment, with focused needs for skilled union labor and cautious optimism around economic growth.

Recruitment

9 out of 14 employers foresee retaining over 80% of their workforce in the next year.

The survey shows a slight decline in retention expectations among participating employers, with 64% now anticipating an 80% or better retention rate, down from 76% in March. This decrease likely reflects growing concerns over turnover, influenced by economic pressures, labor market shifts, and increased competition for skilled talent. The drop in expected retention highlights intensifying challenges in retaining employees, and underscores the need for effective strategies to mitigate retention risks.

This shift also reflects evolving employee expectations around flexibility, career growth, and compensation. As remote work and flexible schedules become standard in many sectors, employees increasingly seek workplaces that offer these options. Employers in Vermilion County may struggle to retain talent without adapting to these preferences, indicating a potential misalignment between traditional workplace structures and current employee demands, which could be driving higher turnover rates.

Recruitment challenges are further complicated by regional competition, with areas potentially drawing talent away from local employers who may find it difficult to match benefits, wages, or work-life balance options. Economic conditions and compensation competitiveness were identified as primary recruitment concerns, suggesting that some employers may lack the resources to keep pace with market standards. A multifaceted approach including improved benefits, flexible work arrangements, and clear career advancement paths may be essential for attracting and retaining a skilled, dedicated workforce in this competitive landscape.

Recruitment: Labor Shortages

Time To Fill Vacancies

55 the average number of days to recruit exempt employees.

28 the average number of days to recruit non-exempt employees.

21 the average number of days to recruit union employees.

Top Labor Shortages

The current survey results indicate a slight increase in the time to recruit exempt employees, rising from an average of 50 days in the previous survey to approximately 55 days. Non-exempt and union positions show relatively stable recruitment timelines, with non-exempt roles taking around 30 days (up from 28) and union roles averaging 22 days, just above the previous 21-day average.

This gradual increase, especially in exempt positions, suggests that employers may be facing heightened challenges in attracting qualified talent for higher-level roles. While nonexempt and union recruitment times remain fairly consistent, the minor uptick across all categories could reflect tighter competition in the labor market or evolving job requirements that demand more time to secure suitable candidates.

The survey highlights labor shortages in production, maintenance, and engineering roles, underscoring a pressing need for workforce development focused on technical skills. Employers are increasingly challenged to fill these critical positions, which are essential for maintaining operational efficiency.

These shortages suggest that employers may need to intensify recruitment efforts and invest in training to build a pipeline of skilled workers in these areas. This trend points to a broader need for workforce initiatives centered on technical skills, particularly in production and maintenance, to support the region's core industries.

Recruitment: Turnover Trends

What do you suspect is MOST to blame for voluntary turnover at your organization?

33% of Employers attribute turnover to entitlement.

28% of Employers attribute turnover to lack of workforce flexibility.

17% of Employers attribute turnover to competitiveness in compensation.

8% of Employers attribute turnover to burnout of employees.

5% of Employers attribute turnover to limited advancement opportunities.

The discrepancy between perceived entitlement and company culture in driving turnover suggests that while employers acknowledge the need for flexibility, growth, and competitive pay, they may not see these factors as intrinsic to their organizational culture. This distinction implies that employers view culture as separate from these more tangible benefits, focusing instead on values, mission alignment, or collaboration as the core of culture.

However, for employees, culture might encompass a broader set of expectations, including not only interpersonal dynamics but also support for work-life balance, career development, and equitable compensation. When these needs go unmet, employees might experience dissatisfaction not just as a lack of specific benefits but as a disconnect from the organization’s commitment to their holistic well-being a perspective employers may interpret as “entitlement”

2% of Employers attribute turnover to company culture.

This gap offers employers an opportunity to redefine culture, broadening it to include flexible work policies, growth paths, and competitive pay as core components rather than standalone benefits. By incorporating these elements as reflections of how employees feel valued, employers can better align with expectations and reduce perceived entitlement-driven turnover.

Recruitment Strategies

The survey results indicate that employers rely on a mix of online platforms to attract candidates, with Indeed, LinkedIn, and company career pages being the most popular. The Vermilion Advantage Job Board also sees considerable use, highlighting its role as a local resource. Social media platforms like Facebook are used to a lesser extent, and niche job boards, such as those for specific industries or skill sets, are rarely utilized. This suggests that while employers are tapping into broad, highvisibility platforms, there may be untapped potential in using more specialized job boards to attract candidates with specific technical skills.

Where positions are being posted:

VermilionAdvantage

Do you anticipate significant changes in technical skill demands for your organization?

Yes No

A growing need for specialized skills, particularly in advanced manufacturing (e.g., CNC machining and robotics), IT, and healthcare certifications is identified.

The anticipated demand for advanced technical skills, particularly in CNC machining, robotics, IT, and healthcare, reflects a strategic shift among employers toward building a workforce that can support technological advancement and specialized operational needs. This trend suggests that employers not only face immediate hiring challenges but may also need to adopt long-term workforce strategies that include partnerships with educational institutions and investment in upskilling current employees.

Workforce Development

Employers’ primary workforce development needs include enhancing technical education, building foundational soft skills, and improving access to affordable training. Many stress job-ready skills for entry-level roles, emphasizing work ethic, attendance, and compliance. These responses point to a need for a stronger local talent pipeline that combines technical skills with essential professional behaviors to boost workforce reliability and productivity.

Which technical

training

areas would your organization like to use WIOA funds?

InterestedinWIOA grants?

Employers engage variably with the public workforce system, often through job fairs and committees, yet none currently partner with Vermilion County Works actively. Despite nearly half showing interest in WIOA funding, this lack of direct partnership suggests a gap in alignment Improved outreach and engagement could bridge this gap and strengthen collaboration and support workforce development.

Workforce Development: Employer Feedback

Employers view several aspects of the local workforce development system positively, particularly the Vermilion Advantage Job Board, local career fairs, and programs aimed at high school students and displaced workers. These resources are seen as valuable for building a steady talent pipeline and connecting with job seekers However, while employers express appreciation for these tools, few offered suggestions for further strengthening the workforce development system This could suggest a limited awareness of additional support services or a possible disconnect between available resources and employer needs.

The lack of recommendations highlights an opportunity to deepen engagement with local employers, fostering a more collaborative dialogue to uncover specific workforce needs that may not yet be addressed. Enhanced communication between employers and workforce development agencies, such as Vermilion County Works and Vermilion Advantage, could help bridge this gap, ensuring that workforce initiatives evolve in line with employer requirements. Increasing awareness of lesser-known resources or tailoring existing programs to target specific skill gaps particularly in technical and specialized areas could support a more resilient and adaptive local workforce system.

Workforce Development: Next Steps

The recent survey of Vermilion Advantage employers reveals significant workforce challenges impacting our community’s economic development. Key findings indicate that employers are experiencing persistent labor shortages in critical areas such as production, maintenance, and engineering, where technical skills are essential. Additionally, there is a need for foundational soft skills like work ethic, attendance, and compliance, particularly in entry-level roles. Employers are concerned about both recruiting and retaining skilled talent, with more than a third of respondents attributing turnover to unmet employee expectations around flexibility, growth, and compensation. These trends point to an increasing urgency for targeted workforce development strategies to sustain our community’s growth and support local businesses.

In response to these challenges, Vermilion Advantage has committed to building a stronger talent pipeline that not only meets the current demand but also anticipates future needs. The Workforce Education Director role, a new initiative announced by Vermilion Advantage, will focus on engaging students early in their educational journey to develop both the technical and professional skills required by our local industries. This position will serve as a bridge between education and industry, working closely with school districts and employers to introduce students to in-demand career paths and provide them with relevant, job-ready skills. The goal is to connect employers directly with emerging talent, creating pathways that align with industry needs and foster sustainable, long-term growth.

Through these efforts, Vermilion Advantage aims to address the pressing issues highlighted in the survey and support the development of a resilient workforce in Vermilion County. By investing in a structured workforce education initiative, we are committed to supporting our local economy by ensuring businesses have access to skilled, reliable talent. This proactive approach underscores our dedication to collaborating with community partners and employers to foster economic growth and meet the evolving needs of our workforce.