One of the top challenges currently facing the global coatings industry is the need for technical talent. Most senior managers are acutely aware of the frustrating length of time it takes to get even one new technical hire, let alone build a complete, strong R&D team, or an expert tech service function. Gaps in the technical functions of the business inhibit driving innovation, effective customer support and many other critical initiatives. This slows growth and erodes profits. The sales teams can only sell the solutions R&D has developed, so a bottleneck there directly impacts the bottom line. The burden of constantly evolving regulatory requirements also puts pressure on innovation, not just as a means to growth but literally as essential to survival. Plus, the domino effect can demotivate salespeople, overburden the technical team you do have, and cause good individuals in other departments to jump ship if either the R&D engine or the technical support system is chronically lacking.
The talent market is tight; the coatings industry is a complex technical field with many self-identified specializations that most universities don’t directly speak to (and the exceptions are not enough to meet the demand for knowledgeable professionals). The most common way someone typically gains industry experience is by landing at a coatings company and finding they like it: not exactly a dependable pipeline for expertise. In addition, the industry has more than its fair share of “home-grown” talent with extensive knowledge but few truly analytical systems or processes to call on. These individuals often hold positions of significant responsibility, and are hard if not impossible to replace at their current employer because the knowledge is in their head; but they rarely add strategic value to another company. This is especially noticeable in emerging economies where the industry is less consolidated and more fragmented, with regional and local companies that frequently have less sophisticated technical staff. As global players move into these markets and seek good technical talent for regional tech centers, the supply/demand equation becomes even more lopsided.