Navigating the Talent Shortage: Strategies for Semiconductor Companies

The semiconductor sector is one of the most innovative around. But while the rapid pace of its innovation is a positive thing for both industry and consumers, it is causing one major headache for companies: a lack of talent. The global semiconductor talent shortage has been well-publicised. First, there was the issue of chip shortages. But now, trapped in the perfect storm of increased demand, an ageing workforce, and cutting-edge technological advancement, companies are finding themselves dangerously short of employees. So, what can businesses do to make sure that their production is not impacted?

Recruitment Strategies for Semiconductor Companies

There are a huge number of skills required within the semiconductor industry, from data analysis and chip design to electronics and engineering. Although these skills are highly specialist, they are not unique to this industry. Meaning that there’s a lot of competition for the available talent. This is becoming increasingly problematic as the evolution of technology is beginning to outstrip the number of individuals available with the relevant skills, knowledge, and experience.

There are six key strategies that semiconductor companies can use to address this.

Upskilling and Training

Regardless of the industry, one of the best ways to retain talent is to offer a comprehensive training programme to existing staff. When you invest in upskilling, you not only ensure that you have the necessary skillset on tap, when it is required. You foster loyalty in your workforce. Helping to ensure that they are there when you need them.

Collaborative Approaches

Collaborative approaches to training and education are essential if businesses are to access the talent they need. Whether that means educators working more closely with businesses and shaping their curriculum around the needs of industry. Or businesses offering more internship opportunities – potentially with government support – for graduates. Businesses can take a more productive approach to ensuring that the skills they need are being produced.

Specialist Recruitment Agencies

Accessing talent isn’t always easy because recruiters don’t always know where to look for it. By working with a specialist recruitment agency, such as MRL, it becomes easier to reach the best, most qualified candidates, globally. Whether those already working in the industry. Or those with a transferrable skillset suitable for retraining.

Networking and Brand Reputation

Technology and manufacturing businesses used to be more self-contained. The semiconductor industry now holds a series of specialised conferences and events every year. Playing an active role within that scene can help to build brand awareness and make your business more appealing to prospective candidates, allowing you to build relationships with them before they look to apply for a role.

Talent Retention

When there’s a talent shortage in any field, it only makes sense to hold on to the people you’ve got. That means working on company culture, improving working conditions, enhancing benefits, and offering flexible working practices. If you can make your business as appealing as possible, you’ll not only keep the staff you’ve got but attract the best new employees.  

Where there is a global skills shortage, there can never be a quick fix for recruitment problems. The sector has become highly competitive, and an enticing remuneration package often just isn’t enough. Innovation and strategy are required, with long-term tactics a must. But while you get your house in order, working with a specialist recruitment consultancy can be the quickest and easiest way to access the most promising candidates.

Find out more about working with MRL to resolve your semiconductor industry recruitment concerns.