As Fusion was broadcast on Fox Business Live's Barney & Co. show, Ed Rensi, Former McDonald's CEO discussed the labor gap and his success story.
Rensi began by championing the automation and use of cobots in the industry.
"I seriously doubt they [cobots] will replace a lot of people in the up-front service industry but you know, this is part of the ongoing industrial revolution. We are always going to see better, more efficient ways of doing things and the more that you can use machinery to do manufacturing processes or service processes; it's safer, it's more complete for the human beings. I think we ought to start hiring more people right out of high school and start teaching them the future of this country. I think it's fabulous."
Show host, Stuart Varney asked how Rensi became an American success story.
"I went to work at McDonalds making minimum wage and worked there for 33.5 years. Got to be CEO of the company because I was trained, I was mentored, I was developed, I was encouraged, I was educated, and I had leadership that said you can do more if you work harder, think better, and challenge yourself, and be better tomorrow than what you were today," said Rensi.
Rensi is a big believer in taking young people and teaching and mentoring them with real life skills that will allow them to progress in their careers and be successful.
"Unfortunately we've got a lot of kids graduating from college with degrees that have no real immediate application and they wasted four years of training and development," said Rensi.
While college wasn't for him, he still acknowleges the need for college graduates to continue the technological advances in the industry while still encouraging other students to enter the trades.
"I think there's got to be a much better balance between trade schools, people coming out of high school going into service industries, or other industries, and of course, we need to have college educated people to help us think differently than we do today," concluded Rensi.