The semiconductor industry is currently experiencing a talent shortage that is exacerbated by the rapidly evolving technological landscape and the demand for skilled workers. According to a study from the Semiconductor Industry Association, the U.S. chips industry is projected to face a shortage of 67,000 technicians, computer scientists, and engineers by 2030. This shortage is part of a broader trend where the U.S. economy is expected to have a gap of 1.4 million such workers by the same year. The influx of generative artificial intelligence is adding more pressure to the already in-demand sector.
GlobalFoundries, one of the top chipmakers globally, is actively recruiting talent to address the workforce shortage in the industry. The company is taking a multifaceted approach to recruitment by targeting veteran candidates, participants in its own workforce reentry program, and women in construction initiatives. GlobalFoundries creates chips for a wide range of products, including electronics, phones, autos, as well as components for space and defense. Major clients of the company include General Motors and Lockheed Martin. In response to the talent shortage, GlobalFoundries launched the semiconductor industry’s first registered apprenticeship program in 2021. The program is full-time, paid with benefits, and requires no cost for training. It is aimed at individuals with a high school diploma or equivalent and an interest in the mechanical field.
GlobalFoundries is aiming to fill hundreds of roles simultaneously worldwide, with thousands of hires planned annually. The company is focused on workforce development efforts to address the increasing demand for talent in the semiconductor industry. The range of roles spans from technicians to product managers and corporate positions. The company is open to cross-training talent and identifying individuals from alternate talent pools in different fields who show interest in the semiconductor industry. Training and retaining existing employees are essential components of GlobalFoundries’ strategy in this competitive environment.
GlobalFoundries offers a range of benefits to its employees, including a tax-free lifetime benefit of up to $28,500 for eligible U.S.-based employees and new hires towards student debt. This benefit is aimed at easing the financial burden on employees and providing them with opportunities for personal and professional growth. Employees like Morgan Woods, who started as a technician at GlobalFoundries’ fab facility, have been able to advance into higher roles within the company. Woods now oversees training and development for technicians, engineers, and managerial staff, ensuring compliance and growth in the automotive sector. The expansion of manufacturing fabs in New York and Vermont with funds from the CHIPS and Science Act will create additional job opportunities in engineering and computer science fields.
The semiconductor industry is not immune to the challenges of recruiting and retaining talent in a competitive market. GlobalFoundries recognizes the importance of workforce development and benefits offerings in attracting and retaining skilled employees. The company aims to create an ecosystem of support for its employees and to make itself one of the best places to work in the industry. By leveraging a combination of recruitment strategies, training programs, and employee benefits, GlobalFoundries is working to address the talent shortage and recruitment challenges in the semiconductor industry.
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