Education and training: Inculcating human capital as a strategic investment

Employment in the U.S. cement industry peaked in 2003 at 13,432 yet the Great Recession coupled with an aggressive regulatory environment and a climate of continued business uncertainty has resulted in the loss of more than 3,000 of these skilled jobs. The reality of demographic trends and pent up infrastructure needs means the U.S. cement industry will need to replace a significant portion of those jobs. Depending upon the pace of recovery, companies that more effectively structure these replacements may gain significant competitive advantages. Yet replacing positions is only one part of the equation. How can training be used as a strategic investment to leverage human capital in an industry with marginal technological advancements? How does training in a labor environment change when additional responsibilities are added as positions are reduced? How can training be used to create a culture reflective of board level initiatives that reflect the dynamics of the U.S. labor market and still address cultural differences associated with foreign ownership? How can training be used as a communications vehicle that identifies opportunities? Can the business models of other non-manufacturing industries provide clues to the U.S. cement industry? This paper evaluates a variety of human capital decisions to suggest a new training model for the U.S. cement industry and a protocol for evaluating training investment decisions.