Business leaders in East Tennessee tend to feel the shortage more (55 percent), while those in middle Tennessee see it as less of an issue (38 percent).
To improve Tennessee’s business climate, respondents said the state needs to focus on enhancing workforce development (60 percent), building better infrastructure (49 percent) and adding better technology infrastructure like high-speed internet (45 percent). (Respondents were able to select up to three.) Skills or attributes survey respondents believe local applicants are lacking. “Employers are having trouble hiring from that dwindling pool of available and unemployed people.” Figure 2. “There are still a lot of jobs that need to be filled, even though more Tennesseans are working now than before the pandemic,” Bruce said. Four in 10 business leaders added that potential employees lack technical skills or are unrealistic about compensation. Roughly two-thirds of those surveyed said this is because applicants lack a work ethic, and almost half said that initiative was missing. How can we increase the supply of workers and get them ready to meet workforce needs in Tennessee?”Īlmost 66 percent of survey respondents said they don’t have an adequate supply of workers trained to work in their industries. The demand is there, but the supply hasn’t kept up. “However, there are still countless employers out there looking for workers to fill positions. They all think our state is doing great,” Bruce said. “When I asked these business leaders about Tennessee’s economy in relation to the U.S., nearly every hand in that room shot up. Despite the optimism about the general economy, many were still worried about a shortage of appropriately trained workers. The Boyd Center gathered about 50 survey respondents and government officials for a dinner in Nashville in February to discuss the state’s economy, and the sentiments shared in that room mirrored those of the survey.
#Worried inflation are optimism. driver
Strong government leadership was the second most popular driver cited among business leaders across the state at almost 27 percent. Many survey respondents - including almost 60 percent in Middle Tennessee and 45 percent statewide - believe strong business investment is driving good economic conditions. “People are moving to Tennessee and joining the labor force as well, which gives us a leg up and further instills confidence in Tennessee’s economy.” “Our state has done a good job of weathering these past few years and keeping Tennessee open for business,” said Don Bruce, director of the Boyd Center. and Tennessee economies will perform over the next 12 months. Survey participants’ opinions regarding how the U.S. As for the national economy, 26 percent of those surveyed expect conditions to improve and 49 percent think conditions will worsen. More than 72 percent of participants in the January Tennessee Business Leaders Survey said they expect the state’s economic conditions to improve over the next year, while only 6 percent expect any kind of decline. State business leaders are showing increased optimism for Tennessee’s economy while continuing to be pessimistic about the national economy, according to a recent University of Tennessee, Knoxville, Boyd Center for Business and Economic Research survey. Boyd Center for Business & Economic Research.Anderson Center for Entrepreneurship & Innovation.Office Of Diversity & Community Relations.Strategy, Entrepreneurship & Organizations.
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