Caterpillar Inc. will spend a strategic investment to support a key source of its success for the next 100 years: its people. As part of celebrating its centennial, the company has pledged to spend $100 million over the next five years to help equip the up-and-coming workforce with the skills needed, using technology to meet global market demands as the world undergoes a rapid digital transformation.
The job market is constantly changing
According to The Future of Jobs Report 2025, in the next five years, the skillsets needed for success in the global labour market are expected to evolve drastically. This transformation will result in the creation of 170 million new jobs. These technology-driven skills can include those for artificial intelligence, automation, data analytics, digital twins, Internet of Things, machine language, augmented reality, computer-aid design and modeling, and robotics maintenance, alongside soft skills.
The pledge builds upon Caterpillar’s ongoing work to help close the growing skills gap in the manufacturing industry, including:
- ThinkBIG, a two-year program that pays students while they train to become technicians.
- The company’s STEM outreach programs expose K-12 students to different careers in manufacturing.
- Caterpillar’s Global Dealer Technician Challenge – an initiative showcasing how skilled technicians are part of a high-tech, high-impact, high-demand career. The competition was designed to raise awareness of the opportunities in the technician career field.
“We are excited to celebrate Caterpillar’s centennial with this investment that will empower the workforce of tomorrow,” said Caterpillar Chairman and CEO Jim Umpleby. “This pledge reinforces our commitment to building a world where technology and human creativity can work hand in hand to create a more resilient workforce. Together, by empowering individuals with the skills and resources they need to thrive, we can make that world our reality.”
“Whether it is Caterpillar investing in the future of work, or Caterpillar employees volunteering, the company’s culture has always been about supporting communities where its employees live and work,” said Asha Varghese, head of corporate social responsibility at Caterpillar. “This ongoing commitment to serving communities helps create an environment in which everyone can thrive.”
Centennial celebrations
This year, Caterpillar is reflecting on its rich past and promising future at local celebrations worldwide as part of a centennial world tour. In addition to Caterpillar’s $100 million pledge, the Caterpillar Foundation, Caterpillar’s philanthropic organization, is making charitable donations to local nonprofit organizations at each tour stop, building on the Foundation’s legacy of impact through community development and sustainability initiatives.
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