The Lowe’s Foundation just launched a new program looking to build talent in the skilled trades across the US. The goal? To help train and develop one million people for skilled trades careers by 2035. The initiative to train and prepare the workforce for the future of work isn’t something that we should overlook, as there remains a vast divide between the workforce and the organizations that can benefit from their services. Lowe’s trade coalition is the latest example of how organizations can come together to make a difference in the lives of employees across the country.
Data from JLL suggests that the US is facing a historic shortage of skilled trade workers, indicating that as many as 2.1 million positions could go unfilled in the U.S. by 2030, with potential economic losses reaching $1 trillion annually. The “persistent, structural talent shortage” perceived by JLL isn’t a gap that can be bridged quickly, as the training and necessary skill-building can take years. A shortage today could be a far more inflated problem tomorrow unless changes are made, and the Building Futures Skilled Trades Coalition launched by Lowe’s appears to understand this well.
Addressing the gap in skilled trades, Lowe’s coalition hopes to train and develop over one million skilled trades workers by 2035. (Image: Pexels)
Lowe’s Coalition to Bolster Skilled Trades Features an Alliance of Industry Giants
On the first of September, the Lowe’s Foundation announced the Building Futures Skilled Trades Coalition, which it calls the “largest cross-sector skilled trades coalition in U.S. history,” with the goal of training and developing one million skilled trade workers by 2035. The initiative isn’t Lowe’s alone, but instead features an alliance of over 75 American educators, businesses, workforce organizations, industry vendors, and stakeholders from diverse backgrounds. This includes resources from the likes of AT&T, Bank of America, Carrier, DEWALT, Duke Energy, GM, and NVIDIA.
“For every five skilled trades workers who retire, only two are entering the workforce. And by 2030, more than two million skilled trades jobs could be unfilled. The consequences could be enormous,” Marvin Ellison, Lowe’s Chairman and CEO, explained in the announcement. “We can watch the gap grow, or we can do something about it, together.”
The unification of efforts from leaders across industries could be what pushes this initiative further in scale and results, showcasing unity not just in resources but in the mission to support the workforce. The effort to reach one million workers is certainly one that will take a while to come to fruition, but as Ellison explains, “Every million starts with one. One person, one pathway, one opportunity.” Despite the sentiment ringing in our ears like Eminem lyrics asking us to lose ourselves, there is considerable optimism and hope to be found here.
How Will the Lowe’s Coalition Close the Skilled Trades Gap?
The announcement from Lowe’s Foundation did not dive into the specifics of how this unified program will be run and how it will support skilled trade workers, but it did shine some light on its goals, of which there are three:
- Challenge outdated narratives about the skilled trades. This could involve building awareness of the trades and helping individuals visualize a career path in specific industries
- Establish pathways to scale training and bring together industry experts to solve existing challenges. There is considerable expertise available in the trades, and uniting their insight in multiple formats to bring the learning to a wider range of people could accelerate their progress
- Structure systems to evaluate progress and develop shared measures to chart a course from training to employment. The goal is to close the gaps in the journey and help those interested in building careers in the skilled trades find their way to them.
Could Gen Z Be the Answer to this Shortage of Talent in the Skilled Trades?
Gen Z has grown disillusioned with college degrees and white-collar work in more ways than one, and there is a genuine curiosity to explore and build long-lasting careers wherever there is work to be found. Social media has increasingly exposed many young workers to the appeal of the trades, and more and more of their ranks are beginning to seek skilled trades training in order to switch tracks onto something new and exciting that also promises long-term stability.
With the number of workers struggling to find employment in their current areas of interest, there is considerable room to show them the benefits of working in the trades and building steady careers. Rather than dismissing their interest, meeting their curiosity with strategies and solutions can be a much more reasonable approach. This emphasis on skill over the single-minded focus on automation is a welcome shift in attitude from the leaders. This unity could ultimately benefit both the workforce and the employers who are looking to dedicate themselves to the future of employment.
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