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Electrifying Insights for the Electrotechnology Industry
Electrotechnology is a fast growing and heavily technical industry with the promise of further expansion. The industry is being transformed by a surge of new technologies and innovations such as home automation, intelligent systems for managing energy consumption, and renewable technologies.
The Electrotechnology industry in Australia recorded an annual revenue of $89.47 billion in 2018-19. It employed over 352,000 people in a wide range of sectors including mining, manufacturing, communications, construction, renewables, domestic and commercial refrigeration and air-conditioning. The industry is projected to need an additional 25,000 workers in the next five years. That’s a seven per cent growth in the size of its workforce.
This industry has traditionally been male dominated. However, there has been a significant increase in the proportion of female workers, who currently make up 17 per cent of the workforce. A more diverse workforce can significantly increase efficiency and productivity, contributing to economic growth.
With an average age of 39, the electrotechnology industry has a younger age profile that other sectors, yet a quarter of its workforce is aged over 50 which could mean the loss of valuable experiecne and industry knowledge in the near future.
One solution to both gender imbalance and ageing workforce is to have long-term workforce development and recruitment plans along with mentoring and knowledge-sharing initiatives to both attract more women into the workforce and retain corporate and industry knowledge.
The proliferation of new technologies and innovations can provide a great opportunity to attract younger recruits and boost female participation. For a more detailed account of how the industry is being transformed and what skills are in demand, refer to the 2019 Electrotechnology IRC Skills Forecast.