Creating an environment where your employees thrive can be a differentiator for your business. Do you know what the people you want are looking for and what will make them stay?
Competition for skills has never been fiercer. Forecast figures suggest the UK science, engineering and technology sectors will need over 800,000 professionals between now and 2020, far outstripping the likely numbers of relevant graduates. The story isn’t much brighter further beyond that: last year, only one university applicant in six was accepted onto aerospace engineering courses.
This shortfall could restrict business growth and profitability and potentially put the delivery of major programmes at risk.
Successfully attracting and managing talented people is a challenge. But there are some specific issues and questions you can consider:
Implementing just one of these ideas won’t make a difference. You need to develop a system which incorporates a mix of different strategies to appeal to a broad range of people. This means thinking harder and differently about how you invest in and look after your people. Organisations that manage this will attract and retain the best talent and with it, their competitive edge.
We have extensive experience across the aerospace, defence and security industry and in the wider industrial products sector. We help organisations in a variety of ways, from designing effective compensation packages through to benchmarking their organisation and building effective talent management strategies.
 Royal Academy of Engineering econometrics of engineering skills project report: Jobs and growth: the importance of engineering skills to the UK economy, Final Report, September 2012, p23.