According to a recent a Future Market Insights, article, “In 2021, the market for electrical testing services experienced year-over-year growth of 6.3%. Between 2021 and 2031, it is anticipated to increase at a CAGR of 7.1 percent, reaching US$ 13.4 Bn by the end of the assessment period.
By 2020, the market accounted for roughly 15 to 18% of the entire testing, inspection, and certification market. In the same year, testing services for transformers, circuit breakers, and motors and generators accounted for 50 to 55 percent of all sales in the electrical testing services market.
The surge in demand for green energy or renewable energy sources such as wind, solar, and hydro also contributes to market growth. With the surge in demand for green energy, the market for electrical testing services will see a considerable increase in demand in the near future.”
With the recent legislation passed by the US Government, The Inflation Reduction Act of 2022, there will be more emphasis on renewable energy and alternative energy. With the funding available, even more electrical testing work will be needed.
With such high demand, the labor market for skilled technicians will be tighter than ever. Employers will need to be prepared to covet their technicians and work to keep them from being lured away by competition. It’s an established fact, that most people quit their management and not their jobs. That said – is your organization looking at the value of the talent or for ways to squeeze more out profit out by taking away perks? It’s been said you can’t cost account your way into profitability.
Sadly, too many managers think that is the way to do it. A good way to prevent your technicians from leaving is to keep an open dialoge with them. Listen to and act upon their ideas on how to improve workflow. Be sure that management is supportive of the field service team. Make sure that equipment is in good condition, and project communication is clear. One of the fastest ways to sour a high performing technician is to not communicate proper information so that they are able to do their work efficiently.
With this kind of demand coming, you’ll want to be sure you are able to keep your best performing field service technicians. If you don’t, someone else will!
Sandra Smith is the Founder of Insight Talent Search & Insight Energy Careers. She has over 30 years of professional recruiting experience and is a certified McQuaig Institute Evaluator.
