Sep 07, 2011
As baby boomer engineers and program managers look to retire, US aerospace and defense firms are faced with rising pressures over talent shortages. The Aerospace Industries Association estimates that, of the 70,000 engineers that graduate in the US each year, only 44,000 are qualified to work in the aerospace sector.
Fortunately, companies are aware of the challenges ahead of them and have taken steps to recruit new, highly skilled talent through mentoring programs, partnerships with non-profit organizations, social networking and internships.
For example, Northrop Grumman has highly structured succession plans in place, such as the Organizational Leadership Development Program, which requires all division presidents, vice-presidents and directors to identify five subordinates who need further developmental activities to take on their job in the short, mid- or long term. Together, the mentor and mentee identify the professional skills they need to acquire before they can rise to higher echelons in the company.
Learn more in a new report sponsored by Oracle and researched by the Economist Intelligence Unit, titled, “Talent shortages and the competitiveness of the US Aerospace and Defense Industry”