In 2023, workforce development continued to evolve across the additive manufacturing industry, which, in turn, influenced hiring trends throughout the sector. In this guide, we’ll explore the main influences in workforce development from data gathered in our annual salary survey.

Funding Challenges

In 2023, many companies in the additive manufacturing industry faced challenges with funding, leading to a shift in strategy. By maximizing sales of existing technology and reducing investment in research and development, companies were able to cut costs to remain financially stable. The result was a consistent “Rightsizing” across the industry as a whole.

Workforce Growth Rate Slows Down

Whilst the workforce has grown globally in 2023, the rate of growth has been slower compared to previous years – another indicator of “rightsizing” across the industry. The rate of growth was 20% in North America, 21% in EMEA and 17% in APAC.

Source: 2024 AM Salary Survey Report from Alexander Daniels Global

Hiring Rate Slows

Globally, there have been fewer hiring opportunities for all markets. This follows a similar pattern to 2022, resulting in a higher proportion of candidates in candidate to job ratios. Candidates in the APAC region were affected the most, with a ratio of 240:1, followed by North America at 87:1 and EMEA at 59:1.

Lower Turnover Rate

Industry turnover slowed in 2023, where uncertainty in the job market and layoffs made employees more hesitant to change jobs. The industry turnover was lower (15%) than the predicted turnover rate (18.6%). However, in 2024, we expect to see a higher turnover rate, which suggests jobseekers are growing in optimism.

Source: 2024 AM Salary Survey Report from Alexander Daniels Global

Salary Growth Trends

Regarding salary trends, salaries have shown signs of stabilizing in 2023. In North America, salaries saw a modest increase of 3%. Similarly, APAC increased by 3.6%, whereas salaries in EMEA saw a slight decrease of -0.3%. However, professionals perceived salaries in the Additive Manufacturing industry positively, with 38.6% considering salaries as “competitive” or “highly competitive” compared to other industries.

Source: 2024 AM Salary Survey Report from Alexander Daniels Global

Outlook for 2024

In 2024, we may continue to see the impact of reduced industry investment and business consolidation. However, there may be more job market movement and turnover following layoffs in 2023. Want to find out more about additive manufacturing talent predictions in 2024? Read our guide today.

Considering a change in role in 2024?

If you’re a professional in the additive manufacturing industry, get in touch with our helpful team to find your next role. Or alternatively, browse the career portal to apply for our job vacancies. We also have a wealth of HR resources to help you stay on top of hiring trends – register to download our 2024 AM salary report today.

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