How the Talent and Job Market is Moving in 2022
Each year, Alexander Daniels Global conducts a global salary survey within the additive manufacturing industry, gathering data on the compensation landscape in the industry, the sentiments of Talent and the intentions of Hiring Managers to hire going forward into the next 12 months. The subsequent report then aims to answer the burning questions that 3D printing professionals have, whilst shining light on industry spotlights.
The report offers a range of qualitative and quantitative data from AM professionals, helping us to reveal key motivators for Talent, and offer advice on what employers can do to attract Talent to their organization.
In our recent webinar, in collaboration with 3DPrint.com and SmarTech Analysis, we looked at data that reveals what the Talent really wants in 2022, plus advice around where you might expect to see jobs in the next 10 years and tips for how to negotiate on your compensation package and how to manage salary expectations.
The infographic below will give you a breakdown of what was discussed in the webinar. You can also watch the webinar on demand.
What the AM Talent really wants
This year, 49% of professionals are ‘Likely’ or ‘Extremely Likely’ to change jobs in the next 12 months (source: 2022 AM Salary Survey Report). That’s 1% down from the previous year, but still represents the majority, with just over 1/3 of AM professionals having changed job in 2021, and increased movement in the industry in particular in the first half of 2022, in addition to the discussion in the industry of the difficulty in attracting and retaining 3D printing talent of late, the talent market seems to be relatively turbulent in recent times.
Knowing this, it’s worth thinking about what actually motivates Talent to change jobs, and what professionals in the industry really value now.
While salary is still among the top 3 motivators for talent to change jobs in 2022, career progression is the biggest motivator. So, what can employers do to offer opportunities for career progression? Whether implementing progression plans or upskilling your teams, there are plenty of ways in which companies can get creative with retaining talent.
Something else revealed through the salary survey report was the shift in perspective when it comes to working from home. Namely, 45% of survey respondents shared that they think ‘Work Environment / Culture’ is a main motivator for changing jobs – that’s up 32% on the previous year!
Furthermore, 23% of respondents this year think that ‘Work-Life Balance’ is a main motivator for changing jobs – that’s also up on the previous year by 15%.
With many organizations initially struggling to adjust to the shift in home working during COVID, we now see professionals wanting to ensure that their workplace is positive and inspiring.
Some Good Advice
Whether a Hiring Manager or a Job Seeker, when it comes to compensation packages and salary expectations, this is a topic that can sometimes go slightly overlooked. Retaining Talent is one thing that companies need to start investing in, but when it comes to attracting professionals to your organization and making the right pairing between job seeker and business, we’ve got some pretty sound advice.
In our recent webinar, Loxley Graham (Head of Europe & ROW at AD Global), took us through some tips for exactly that: managing salary expectations as a Hiring Manager, and negotiating compensation packages as a Job Seeker. Here’s what he had to say:
Managing Salary Expectations
- Look at the Industry, Not Just the Discipline
- Think Beyond Salary – What Can You Offer?
- Get Creative with Benefits
- Think About the Cost of Living Where You Will Be
- Know Your Value
- What Do You Actually Need?
- If in Doubt, Get in Touch With a Recruiter
You can read more about this here.
where to look for work?
It’s no secret that additive is increasingly integrating into the wider manufacturing supply chain. We’re seeing more and more instances of applications of 3D printing technologies in vertical markets.
With vertical markets such as Dental and Aerospace pioneering the applications of the tech in the 1980s, these industries have been rubbing shoulders with AM for decades. However, in more recent years, we’ve seen a real uptake in the Automotive and Medical industries, with the Energy industry expected to see the highest growth over the next 10 years at 21.4% CAGR, as reported by SmarTech Analysis.
The Top 3 Areas of Growth in the AM Market
In fact, using the data from SmarTech’s latest Data Service Reports on the Metal and Polymer markets, we were able to determine the following:
- The Energy industry is expected to see the greatest growth, and we can therefore expect to see an increase in jobs being created within various sectors of the industry. We’ve already seen companies in the Energy space applying the tech, for example, applications of 3D printing tech in battery manufacturing processes, as well as within the wind turbine manufacturing space and for the production of solar cells.
- The uptake in and acceptance of remote work as a solution for Talent, means that remote opportunities can be expected to pop up specifically within the APAC and Greater China regions, as they are expected to see the greatest growth over the next 10 years at a combined rate of 39% CAGR. We believe that this will open up vast opportunities and potential for Talent within the sales, marketing and management disciplines.
- Finally, some good news for up-and-coming Talent and those looking to upskill or even change specialism: the data revealed that the technology segment expected to see the highest growth over the next 10 years, was the Bound Metal Segment, at a combined rate of 65.1% CAGR for Metal Binder Jetting and Bound Metal Deposition. If you are at the start of your career, you might consider looking into developing your experience and skills within these technologies.
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