Lexicon Inc. Expands Workforce Training with Lex U to Address Skill Gaps

What's Happening?

Lexicon Inc., a steel fabrication and industrial construction company based in Little Rock, has expanded its workforce development initiative, Lexicon University (Lex U), to address critical trade skill gaps and workforce shortages. The program, formalized in 2022, offers free training to employees across three curricula: trades, professional, and management programs. Lexicon has partnered with Arkansas Northeastern College for industrial maintenance training and employs in-house welding instructors. The initiative aims to train employees to pass stringent welding certification tests quickly, addressing the shortage of skilled welders. Lex U recently graduated its largest class, with 40 employees receiving certifications in industrial maintenance and structural welding. The company plans to expand its facilities to increase training capacity.

Why It's Important?

The expansion of Lex U is significant as it addresses the growing demand for skilled trade professionals, particularly welders, in the U.S. The American Welding Society projects a need for 320,500 new welding professionals by 2029. By providing free, in-house training, Lexicon not only fills its workforce needs but also offers a cost-effective alternative to traditional welding schools, which can be prohibitively expensive. This initiative helps Lexicon maintain a competitive edge by ensuring a steady supply of skilled workers, while also fostering employee loyalty and reducing turnover. The program's success could serve as a model for other companies facing similar workforce challenges.

What's Next?

Lexicon plans to expand its Lex U facilities, including a new location in the Port of Little Rock and a potential site in Mississippi County. These expansions will allow the company to offer additional training programs, such as rigging and fitting, and increase its capacity for welding training. As Lexicon continues to grow, it will need to address the challenge of retaining its newly trained workers, who are highly sought after by competitors. The company may need to implement strategies to enhance employee retention and loyalty, ensuring that its investment in workforce development yields long-term benefits.

Beyond the Headlines

The Lex U initiative highlights broader issues in the U.S. labor market, such as the need for more accessible vocational training and the importance of aligning educational programs with industry needs. By investing in workforce development, companies like Lexicon can play a crucial role in bridging the skills gap and supporting economic growth. Additionally, the program underscores the potential for public-private partnerships in education and training, as seen in Lexicon's collaboration with Arkansas Northeastern College.