October 15, 2021
October is Manufacturing Month, and at the Caterpillar Foundation, we are celebrating our partners, like the Manufacturing Institute, whose mission is to inspire, educate and empower the manufacturing workforce of today and tomorrow with a focus on women, veterans, youth and skilled training.
Jobs in science and technology are some of the fastest-growing worldwide, and innovations in manufacturing are becoming more and more critical for tackling global challenges. Modern manufacturing jobs require irreplaceable human skills, and 2021 manufacturers are capable of creativity, flexibility, critical thinking, design, innovation, engineering and finance.
It's clear the world needs manufacturers! Yet the biggest barrier across regions is the disparaging skill vacancy gaps. A recent report by MIT found that 45% of global employers struggle to fill roles due to lack of skills. At the same time, some 30-45% of the working-age population around the world is underutilized – that is, underutilized, underemployed, or inactive, with young adults and women being a crucial pool of untapped labor. The Manufacturing Institute and Deloitte also found that by 2030, manufacturers will need to fill 4 million jobs, 2.1 million of which could go unfilled if we do not inspire modern manufacturing careers.
To help solve this problem, the Caterpillar Foundation is working with the Manufacturing Institute to provide new training and job opportunities for underserved communities. The Caterpillar Foundation supports two MI programs to expand initiatives in workforce development, education and skills building, research and insights, and fostering community.
Through the Manufacturing Institute’s Federation for Advanced Manufacturing Education (FAME) program, the MI is driving the future of the manufacturing industry by building cohesive cooperatives of manufacturers to implement a proven model of skills training that emphasizes integration of manufacturing core competencies, intensive professional practices, and hands-on experience to build the future of the modern manufacturing industry.
Additionally, the Caterpillar Foundation is working with the MI on the Heroes MAKE America initiative, which builds connections and career paths between the military community and the manufacturing industry. The program provides integrated certification and career-readiness training in partnership with local community and technical colleges to prepare transitioning service members, veterans, National Guard, reservists, and military spouses for rewarding careers. More than 600 members of the military community have graduated from the program since its inception in 2018.
At the Caterpillar Foundation, we are committed to helping underserved communities gain 21st century jobs, through technical education and basic computer skills. We are thrilled to work with organizations like the Manufacturing Institute, where teachers are well-equipped and well-trained, and students get hands-on experience in the workforce. Together, we hope to create a great talent pipeline that will help construct and change our world for good.