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The chemicals perspective – A focus on talent

Accenture Global Manufacturing Study: How leading manufacturers thrive in a world of ongoing volatility and uncertainty.

Overview

As part of Accenture’s Global Manufacturing Study, we surveyed executives from the chemical industry to gain insight into the issues and practices they are considering in the pursuit of sustainable growth in today’s volatile global economy—as well as the challenges they face in achieving their growth goals.

Read the report.

Key Findings

We found that most chemical companies in our survey are growing strongly—both in terms of revenue and profitability— and look forward to continued growth. But we also found that chemical companies’ sustained growth is threatened by a number of talent shortcomings, including major skills gaps in key roles. In this paper, we explore how chemical companies can address this talent challenge through stronger investments in educational programs, employee training, and new productivity tools that can help them build a sustainable talent pipeline, retain their best talent, and get the most out of their skilled employees.

Recommendations

It is true that chemical companies face a major challenge when it comes to finding the right skills to sustain growth. But, it is equally true that there are many ways chemical companies can address that challenge. For most chemical companies, it comes down to a few simple points: Invest in the front end of the talent pipeline—help schools improve their STEM programs and hire the graduates of those programs. Challenge new hires— give them a lot of opportunity to excel or fail, and support them with the right training and tools to enhance the chance of the former and reduce the chance of the latter. And pay more for fewer, but highly talented, people— and give them the tools to be productive and remove the administrative and clerical work that distracts them from their “real” job. Doing so will help chemical companies be more successful in attracting younger hires, getting more out of them and other highly skilled employees, and securing the commitment and loyalty of key people to help drive the business over the long term.