The semiconductor industry is recruiting workers in a tight labor market as competition for talent intensifies and funding from the Chip and Science Act aimed at spurring domestic production continues to be dispersed.
It also projects a labor shortage of up to 1 million people in the overall U.S. economy by 2030 as generative artificial intelligence adds power to in-demand industries.
It is predicted that by 2030, the U.S. chip industry is expected to face a shortage of 67,000 technicians, computer scientists and engineers, and the overall U.S. economy will be short of 1.4 million such workers. A 2023 study From the Semiconductor Industry Association.
Another Deloitte study found that talent shortages in semiconductors are likely to become more severe due to the global economic environment and ongoing supply chain issues.
A wafer sorter is seen at a GlobalFoundries semiconductor manufacturing facility in Malta, New York, U.S., Tuesday, June 18, 2024.
Cindy Schultz | Bloomberg | Getty Images
GlobalFoundriesThe world’s third-largest chipmaker is casting a wide net to recruit talent. The company has scouted senior candidates, as well as those from its own Workforce Reentry Program and Women in Construction Initiative.
The company makes chips for everyday products, from electronics to cellphones to cars, in addition to components for space and defense. Major customers include General Motors and Lockheed Martin.
In 2021, the company launched the industry’s first registered apprenticeship program, which is full-time with benefits and requires apprentices to pay no training fees. It can be completed in two years or less and requires only a high school diploma or equivalent and an interest in a mechanical field. The company said about 50 apprentices have completed the program so far. The program recruits technical associate degree graduates from area community colleges and military veterans.
GlobalFoundries Chief People Officer Pradheepa Raman told CNBC that the company is working to fill hundreds of positions simultaneously globally and is hiring thousands of employees every year, a pace it expects to continue. Go down. Raman said maintaining the same size workforce “is not an option” for the industry as demand soars. Needs range from technical staff to product managers and enterprise roles.
“That’s why we’re very, very aggressive in workforce development,” Raman said. “If you’re not getting traditional talent, (the solution is) cross-training talent, identifying alternative talent pools, people who are doing things in different areas, showing them This is a very welcome set of opportunities that exist within the semiconductor industry, which is our approach.
On Tuesday, June 18, 2024, at the GlobalFoundries semiconductor manufacturing plant in Malta, New York, USA.
Cindy Schultz | Bloomberg | Getty Images
Workers also have room for advancement, and training and retaining existing workers is key in this competitive environment. Morgan Woods, 28, started working as a technician at the GlobalFoundries fab in Malta, New York, in 2021. and ensure compliance. Woods said compliance will be critical as the company expands into automobiles in partnership with General Motors.
“As the demand for microchips increases, we will definitely need additional manpower to help support the continued rollout of microchips and achieve our daily goals,” Woods said.
Woods took advantage of a benefit GlobalFoundries launched in May that allows eligible U.S. employees and new hires to receive a lifetime tax exemption on a total of $28,500 in student debt. It includes qualifying loans for all degree types and credit-based certificate programs offered by U.S. universities and colleges. The company said that the current number of applicants has exceeded 200, exceeding expectations.
“By participating in this program, I will be in a better financial position over the next few years to purchase a home and consider expanding my family and having children,” Woods said.
In addition to helping create roles in engineering and computer science, funding from the Wafer and Science Act will also facilitate the development of GlobalFoundries’ manufacturing facilities in New York and Vermont. In February, the company announced plans to raise $1.5 billion in CHIPS funding to expand manufacturing capabilities. It expects the funding, along with local and state funding, will help create about 1,500 manufacturing jobs and 9,000 construction jobs over the life of the planned projects.
The manufacturing and construction industries have also faced recent worker shortages and are aiming to attract new and younger workers into the field.
“We believe that the challenges we face in recruiting can be solved through an ecosystem approach to workforce development and make our organization one of the best places to work through the benefits we have been offering,” Raman said.
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