Northeast Ohio will see job growth over the next five years, but it also will see workforce turnover as older workers retire.
Northeast Ohio will see job growth during the next five years, but the majority of employment opportunities will come as workers change jobs or decide to retire.
Companies in the 18-county region should add 20,700 jobs during the coming year, according to data collected by Cleveland-based Team Northeast Ohio.
Meanwhile, it's estimated that more than 1 million replacement workers will be needed during the next five years.
The region's workforce is expected to reach 1.948 million in 2023, an increase from the current workforce projection of 1.927 million, according to data compiled by Team NEO.
As the workforce grows, employers will be seeking people with technical skills and advanced capabilities.
"The landscape for future jobs is shifting as technology plays an increasing pivotal role in our economy," Bill Koehler, Team NEO chief executive officer, said in a press release. "Specialized skills are needed in areas such as smart manufacturing for the implementation of the industrial internet of things."
Healthcare is expected to see 8,500 new jobs created for practitioners, technicians and support personnel over the next five years. During that period, the healthcare industry is projected to need 77,700 replacement workers.
While healthcare sections are expected to create the largest number of new jobs, the second fastest growth segment — projected to create 6,000 new jobs — is food preparations and serving.
It's estimated that 160,000 replacement workers will be needed to fill openings in office and administration occupations. More than 100,000 jobs are expected to open in production sections, according to the Team NEO report.
Diebold Nixdorf recovery moves
Employees at Diebold Nixdorf learned Friday that their 401(k) match will end temporarily as the company continues efforts to improve cash flow.
Company officials called it a difficult decision and said they hope to resume matching employee 401(k) contributions as soon as possible. The action affects more that 5,000 employees across the United States, including about 1,200 in Northeast Ohio.
The move is among several steps the company is taking as it contends with debt obligations and market conditions. Other changes will be discussed in the coming weeks when Diebold Nixdorf announces its year-end earnings.
The company has faced challenges since Diebold and Wincor Nixdorf merged in 2016, including a string of quarters with losses. Last summer, the company restructured its loans in order to cover the cost of buying shares held by former Wincor Nixdorf shareholders who redeemed their stock.
While Diebold Nixdorf ranks as the world's largest automatic teller machine company, it also sells and services point of sale equipment to retailers. The company announced last week that its retail software product has been recognized by several top analysts since being introduced in 2017.
On Monday, Diebold Nixdorf announced it has partnered with Duty Zero by cdf to provide digital services for customers shopping at the six duty free stores in Hong Kong International Airport.
Canton-based Phoenix Enterprise Solutions has teamed with DKI Ventures.
DKI has a network of property damage contractors across North America and is using Phoenix's restoration and insurance platform with its member franchise network and customer base.
Life saving app
Gordon Funeral Home is working with Vital Boards to provide a smart phone app that provides information to paramedics and police responding to an emergency.
The Vital ICE (In Case of Emergency) app can provide vital details to agencies responding to the call. The details can be taken on an ambulance or sent directly to a hospital where emergency room staff can access information. The goal is to save lives by providing information quickly.
Gordon is working with Vital Boards to help area residents get the app. Anyone downloading the app can use #1803 for Gordon's location in Canton or #9425 for the Magnolia location. Officials with Vital ICE said Gordon is making the app available as a way of showing gratitude for the opportunity to serve the community.
Reach Edd at 330-580-8484 or email@example.com
On Twitter: @epritchardREP