The face of engineering is changing. Despite the recent recession, engineering remains one of the most in-demand professions; so, finding the best person for a required skill set can be challenging. Multiple factors affect this challenge, including:
- Highly specialized positions are hard to fill.
- Certain U.S. geographic areas are short of engineering staff.
- Approximately 17 percent of all engineers pursue secondary degrees that make them highly marketable in other fields.
- Universities continue to produce fewer engineering graduates. This complex mix of circumstances underscores the need to protect your company’s greatest asset: your employees. That’s why a proactive plan for retaining and developing your employees is paramount to your company’s long-term success.
Due to the impact of the high demand for engineers in the U.S., many companies are challenged to recruit and retain talent. And the satisfaction of their employees will be key for this.
Although the recession curtailed many salary increases for engineers, take-home pay was not the most important reason why engineers chose or remained in their profession.
Many engineers consider job satisfaction just as important as salary. Job satisfaction is perceived as:
- Challenging, fulfilling work
- Exposure to new technology
- A good work environment
- Ongoing education and advancement opportunities
- Job security
- Work-life balance
Today’s engineers place a high premium on work-life balance. Non-monetary perks, family- friendly benefits, and flexible scheduling are attractive to potential employees. Employees appreciate a company that invests in them personally. Provision for education and career advancement makes employees feel valued and also ensures that your workforce stays current with new technologies—a “must” for all engineering professions. Benefits that include flexibility and education can help meet corporate goals and increase employee retention. Much more can be done, to everyone’s mutual benefit.
This post is extracted from The Engineering Labor Shortage: Maximizing Employee Retention in a Changing Workforce Climate. You can download the free paper here.