Opinion
Where Does the Bulk of Engineering Spending in Utah Go?
It can be difficult to understand how an industry operates from the outside. Engineering and manufacturing can feel like a prime example of this, seemingly inaccessible due to the wealth of machinery and complicated processes. However, as with any industry, the effect of spending is something that’s going to ripple outwards from it – affecting the wider economy rather than just the industry itself.
With that in mind, you don’t have to understand the whole extent of the inner workings of these trades, just where spending priorities often sit and what might change that.
Engineered Solutions
There is an interesting dynamic at work in the world of engineering, where engineered products themselves can be incorporated into the very process to make things run more efficiently. It’s an industry that can improve itself, by nature, meaning that finding creative solutions to problems that arise is an essential component of the work. A nitrogen generator, for instance, can have an incredible range of utility within engineering workspaces, being flexible enough to be applied in a variety of places based on the need of the business. The ability for small changes in the machinery allowing for it to better fit a variety of circumstances can do a lot for their appeal.
The Best of the Best
The amount of money that engineering businesses spend on labor costs can be a good indication of how important strong talent is in this industry. While it might be the assumption of many audiences that engineering success comes down to tools and technology, you still need skilled people to make those tools work in the first place. In fact, the more skilled and experienced the worker is, the more money that’s going to be spent on them – be it salary costs, benefit costs, or even retention and training.
This is an interesting spanner in the works on the topic of automation. While it might be assumed by many that engineering would be one of the areas likely to be most affected by automated machinery, these kinds of costs might showcase how important the human element is here.
Software Licensing
Again, though, the tools and technology used by engineering businesses are absolutely crucial. While aforementioned examples like nitrogen generators might better fit the description of physical tools that are used to enhance the physical work, digital solutions can’t be ignored.Every industry is relying on these in one way or another, to different degrees, and engineering is no exception. That means that a lot of the money is going to end up going on software licensing that will enable these solutions to be used continuously. Of course, along with that comes an even greater consideration for staff training – ensuring that employees are knowledgeable and experienced enough with both these and the physical tools. At this point, the different areas of spending become deeply interwoven, with more spent in one area being reflected by a potential increase or decrease in another area, making it difficult to judge them individually.
