- Most students think skilled trades are a good career
option, but just 16% are very likely to consider it
- Young people underestimate the income potential for
a skilled trade career; however, half of current skilled trade
workers with less than 10 years' experience earned at least
$50,000 to start
- Most young people have outdated perceptions of the trades;
89% of workers said they work with cutting-edge technology and 94%
say that their jobs are high in demand
- Fifty-eight percent of young people have never talked
meaningfully to a skilled trades professional about career
opportunities
- Stanley Black & Decker
convenes panel to discuss the state of the trades
NEW
BRITAIN, Conn., April 5,
2022 /PRNewswire/ -- Stanley
Black & Decker (NYSE: SWK) today released the results of
its inaugural Makers Index, an in-depth research study examining
sentiment about skilled trade careers in the United States, specifically among young
people and their parents, with the goal of better understanding
some of the underlying causes of the skilled trade labor
shortage.
Experience the interactive Multichannel News Release here:
https://www.multivu.com/players/English/88420511-stanley-black-and-decker-inaugural-makers-index/
The study surveyed three core audiences1 – high
schoolers aged 14-19, parents of high schoolers and skilled trade
workers – and the findings revealed a paradox that underscores the
challenges associated with the skilled trade shortage: young people
are not seriously considering it. While 85% of young people and 94%
of parents think that skilled trade work is a good quality career
option in general, less than half (49%) of youth have ever
considered a skilled trade career and far fewer (16%) are very
likely to consider a skilled trade career.
"The skilled labor shortage is one of the biggest challenges
facing the U.S. economy, with 650,000 open jobs in the construction
industry alone," said Stanley Black
& Decker CEO Jim Loree. "This
problem existed long before the pandemic but has certainly been
exacerbated by it. We must address this issue, or we risk even
greater labor shortages in the future. The Makers Index study
reveals a pathway to solve this challenge: collectively, there is
more we can do to make trade careers resonate with young people. We
can increase career and technical education (CTE) programs at
schools and ensure students appreciate the income potential and
lifestyle advantages of skilled trade careers. Businesses,
government, civic leaders, educators, school administers, teachers
and parents play a critical role in helping to develop and nurture
the next generation of skilled trade workers. Working together, we
can make progress toward solving the skilled trades shortage."
A closer look at the data reveals four key drivers of the
skilled trades gap:
1. Misunderstanding of long-term financial
security
Not surprisingly, 81% of young people and 78%
of parents are concerned about the potential cost of education
after high school. Perhaps as a result, 87% of young people and 93%
of parents say starting a career sooner than it takes to finish a
four-year degree is appealing. The skilled trades could offer young
people a way forward, but young people are underestimating the
starting earning potential for skilled trades. Only 42% expect
skilled trade workers to earn at least $50,000, and 19% of young people think the
starting pay for a skilled trade worker is less than $20,000. In fact, half of current skilled trade
workers with less than 10 years' experience earned at least
$50,000 to start.
Of the younger people surveyed, 43% were much more positive
about a skilled trade career when presented with the fact that
after five years, a person who attends trade school and then starts
working will be $140,000 ahead, on
average, compared to a student who enrolls in a four-year college
before working.
2. Incorrect knowledge of required skills
There has
long been a narrative that young people don't want to enter the
skilled trades because they dislike the idea of working in manual
labor, but of the 40% of young people who don't believe a skilled
trade career is a good option, only 12% cited a dislike of manual
labor as their primary reason. The main reason cited by those 40%
of young people – by a long margin – was poor fit or lack of
skills. Broadening an understanding of the skills needed for a
skilled trade career can help address this sentiment.
At the same time, most young people have outdated perceptions of
the trades, with 23% disagreeing that skilled tradespeople work
with cutting edge technology and 18% disagreeing about the work
being high in demand. Those beliefs are in contrast with reality:
89% of workers said they work with cutting-edge technology and 94%
say that their jobs are high in demand.
3. Lack of exposure to individuals currently in trade
profession
Young people lean heavily on people they know –
including parents (48%), friends and classmates (44%) as well as
teachers (43%) – for help and information related to post-high
school planning. But only 42% have had a conversation about skilled
trade careers with someone in those fields, while 37% have never
had a conversation with anyone about skilled trade careers. It's no
wonder that only 29% feel very well informed about how to start
down the path of these careers.
Media and entertainment still play an important role in shaping
career choices. More than six in 10 skilled workers with less than
10 years of experience said that media (print, online, social, ads,
etc.) was influential and helpful in thinking about career plans,
with the internet (32%) and social media (21%) being primary
drivers.
4. Continued male-dominated industry
When it comes to
skilled trades, there are discrepancies in knowledge, consideration
and appeal between genders. When asked about their familiarity with
skilled trades, teen boys are more familiar than teen girls (53%
vs. 36%), and in thinking about the future, boys are more likely to
consider a career in a skilled trade (64% vs. 49%). When asked if a
skilled trade career seems like a good option for them, 69% of boys
agree, but only 52% of girls agree. This same dynamic exists among
parents. While men and women have the same opinions about whether
skilled trades careers are good-quality options, men are more than
twice as likely as women to say a skilled trade career is a very
appealing option for their child (47% to 22%). To help solve the
skilled talent shortage, there needs to be a focus on driving more
engagement with women to help them become more aware of these
careers and their benefits.
Makers Index Virtual Discussion: Drilling Into the Skilled
Trades Shortage
Stanley Black
& Decker hosted a virtual panel to dive deep into the Makers
Index results, explore the underlying causes behind the skilled
trades labor shortage and shed light on opportunities available
within the industry.
The discussion was moderated by TV host and car enthusiast,
Cristy Lee, a Stanley Black & Decker CRAFTSMAN® Tools
Ambassador, and participating panelists included Shannon Lapierre, Chief Communications Officer
for Stanley Black & Decker;
John Malecki, YouTuber, custom wood
and metal worker, and former NFL Lineman; and Abby Leonard, a fourth-year welding apprentice
with Poole & Kent.
Empowering Future Makers
In 2021, Stanley Black & Decker launched the Empower
Makers Global Impact Challenge, a five-year, up to $25 million commitment to fund vocational skills
training and reskilling programs in the construction and
manufacturing sectors. The Impact Challenge is expected to skill
and reskill up to three million makers over the next five years.
The company recently announced the first Makers Grants to 86
nonprofits including high schools, community colleges,
construction-focused programs, makerspaces and vocational &
trade schools. These recipients will create vital trade programs
and help new generations learn how they can help build what
matters. The full list of recipients can be found here.
In addition, the company has established partnerships with
organizations who are working to drive awareness and help close the
skilled trades gap. These partnerships include:
- Rock the Trades, a workforce development initiative which
provides opportunities for empowerment to those interested in
pursuing a career in the trades, either through mentorships or
scholarships.
- Through the company's partnership with the National Association
of Manufacturers and the Manufacturing Institute, Stanley Black & Decker supports efforts such
as "Creators Wanted," a campaign to build the modern manufacturing
workforce of tomorrow.
To learn more about Stanley Black
& Decker's Corporate Social Responsibility plan, click here and
to learn more about its Environment, Social and Governance
strategy, click here.
About the Makers Index
Stanley
Black & Decker created two indices as part of this
research: the Knowledge & Perception Index and the Advocacy
Index. The Knowledge & Perception Index scores factors that
influence consideration of a skilled trade career among youths and
parents, including familiarity and perceptions, while the Advocacy
Index scores factors that influence the likelihood of a skilled
trade worker to recommend a skilled trade career to a young person,
including job satisfaction.
In this benchmark study, youth scored a 62.4 out of a possible
100 on the Knowledge & Perception Index, while parents scored a
noticeably higher 76.0. On their own index, workers scored very
high as advocates – at 84.6 – driven by strong satisfaction and
positive assessments of their career fields.
Full Makers Index findings and results can be found
here.
Survey Methodology
KRC designed and fielded an online
survey from August 30 and
September 13, 2021, targeting three
audiences: Youth (N=801), Parents (N=200), and Skilled Trade
Workers (N=502)
About Stanley Black &
Decker
Headquartered in the USA, Stanley
Black & Decker (NYSE: SWK) is the world's largest tool
company operating nearly 50 manufacturing facilities across America
and more than 100 worldwide. Guided by its purpose – for those who
make the world – the company's more than 60,000 diverse and
high-performing employees produce innovative, award-winning power
tools, hand tools, storage, digital tool solutions, lifestyle
products, outdoor products, engineered fasteners and other
industrial equipment to support the world's makers, creators,
tradespeople and builders. The company's iconic brands include
DEWALT®, BLACK+DECKER®,
CRAFTSMAN®, STANLEY®, CUB CADET®,
HUSTLER® and TROY-BILT®. Recognized for its
leadership in environmental, social and governance (ESG),
Stanley Black & Decker strives
to be a force for good in support of its communities, employees,
customers and other stakeholders. To learn more visit:
www.stanleyblackanddecker.com.
Media Contacts
Debora Raymond
Vice President, Public Relations
203-640-8054
debora.raymond@sbdinc.com
Abigail Dreher
Director, Public Relations
860-922-4598
Abigail.dreher@sbdinc.com
1 KRC Research designed and fielded an online survey
from August 30 and September 13, 2021 among three audiences: Youth
(N=801), Parents (N=200), and Skilled Trade Workers (N=502)
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