2021 Marcum National Manufacturing Survey

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WORKFORCE Recruitment and Retention Are Top Concerns Finding staff to drive growth is a big issue, however. With 87% of respondents expressing concern about recruitment and 69% calling it their greatest challenge for the coming year, staffing jumped out as the biggest worry for manufacturing companies. And 34% cited workforce acquisition and development as a problem, making it the top problem specifically called out in the survey. R&D/INNOVATION Technology Is Vital for Manufacturing Success Harnessing the latest technology is crucial for adaptation. Most respondents use technology to drive efficiencies, automate processes, and simply run their companies more effectively. Whether it’s through an ERP system or applying the latest in smart manufacturing and embracing the best in data analytics, technology will be the key to remaining competitive in this global economy. REVENUES Growth Forecasted for Most Manufacturers Nearly 80% of respondents said they expect higher revenues in the coming year. Just 5% predicted a decline. That’s despite the fact that nearly 60% of respondents reported lower revenue

in COVID-impacted 2020 versus 2019. This buoyant attitude matches what we’re hearing from clients.

Manufacturers, like everyone else, were forced to adjust to lockdowns, disruptions in supply chains and deep economic uncertainty. “ ”