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Impact on Hoosier Tech Labor - Billions of investment starting up semiconductor manufacturing in Indiana

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  Last week, I had the opportunity to speak briefly with Indiana Senator Todd Young about the Labor impact of his economic development plan to make Indiana a global hub for semiconductor manufacturing and AI development.     He estimates that his efforts will lead to   9,000 new jobs in Indiana . Funded through the CHIPS & Science act authored by Senator Young, just one of the four semiconductor plants locating in southern Indiana near Crane Technology Park is expected to bring  400 jobs to Daviess County .    And, Indiana headquartered Applied Research Institute has received $33 million to start building the Silicon Crossroads Microelectronics hub, the largest of the eight hubs planed in the US.    Additionally, a chip packaging fabrication and R&D facility will be constructed by  SK Hynix with a $3.8 billion investment in West Lafayette . Thanks to Senator Young’s hard work and leadership, Indiana is poised to be a global leader in semiconductor manufacturing and artificial i

How can companies with 25 to 250 employees compete for talent with Cummins Engine or Eli Lilly & Co?

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How can companies with 25 to 250 employees compete for talent with Cummins Engine or Eli Lilly & Co? Two points of advice: •Stop competing with everyone else for the same talent.   •And, recruit to fit your company’s culture. Before describing further, I want to offer a bit of a disclaimer.    There are some talent niches in the current labor market that Career Solutions doesn’t have a solution for. For example, we’ve been asked to source and recruit recent college graduates for entry level Customer Service / Client Service positions in financial services since the pandemic.    Career Solutions has a long history of RPO work for local area financial institutions and this type of work should be fairly routine.    But it’s not anymore and requires much more effort and resources.    And I can’t say that there is an easy solution to hiring recent college graduates, especially if you’re a smaller employer. But in sourcing and recruiting experienced talent for local manufacturers, for ex

Indiana Hiring & Recruiting 2024 Outlook & Interest Rate Impact

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  This week, Federal Reserve Chairman Jerome Powell announced no rate cut in the federal funds rate, leaving the rate at 5.25 to 5.5 which is the highest in two decades.    Younger generations of workers haven’t see rates like this in their lifetimes, making them cautious about using credit cards and taking out mortgages. But what does this mean for the job market and the impact upon employers’ ability to hire? While  Career Solutions  had a small flurry of hiring by corporate clients in Civil Engineering and Financial Services in December 2023, the year overall continued to be very challenging for employers.   Many job postings did not yield quality candidates and those applying didn’t seem to have read the qualifications.    Worse is that many HR departments and corporate recruiters have come to expect half of scheduled interviews and even starts to become “no shows”. Post-pandemic employment continues to have big challenges.    The retiring generation is too big to be replaced by th