PRESENTED BYIN PARTNERSHIP WITH. Aviation Week Executive Summit Workforce Study Launched in 1996 ...
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Transcript of PRESENTED BYIN PARTNERSHIP WITH. Aviation Week Executive Summit Workforce Study Launched in 1996 ...
PRESENTED BY IN PARTNERSHIP WITH
Aviation Week Executive Summit
Workforce StudyLaunched in 1996Expanded in 2001 to partner with AIAExpanded in 2004 to partner with AIA, NDIA,
AIAA
A&D Employment
• Dept of Labor Stat/AIA
Age Distribution
• Retirement Rates
Significant Data
Engineering Open Requisitions
% Hiring Off Campuses
RetirementRate
2009 8,294 11.28% 2.06%
2008 10,819 NA 5.7%
Retirements - More
Critical Talent Demands
• Systems Engineering (2,511)• Software Engineering (1,755)• Mechanical (1,011)• Electrical (867)• Aero (333)
Voluntary Attrition
• Continues to climb among Yps• Climbing among hourly workforce/highly
skilled craftsmen• Hiring and lower attrition at mid-career have
smoothed the gap
Compensation
• Pay increases 2009 averaged 2.03%, down from 4.32%
• Promotions being used by smaller companies to retain; promotion rates remain stable but not growing
Other factoids
• If everyone strives to hire those with 3.5 GPA, can’t meet hiring needs (bell curve of graduating class indicates ~ 7,000 of TOTAL grads hit that number– Grad school– Finance– Consulting– A&D
Other factoids
• Retirement seen as “big company/agency” issue
• Diversity
Young Professionals - 2010
Career Intent
They are looking!
If Compensation is Equal…
• Benefits• Technological/intellectual challenge• Ability to advance• Be part of solving a major problem• Career counseling/coaching/internal courses
not viewed as highly as additional coursework/degrees/specific plan
Factors Affecting Decisions
• Direct Supervisor• Life balance/work flexibility• Independence• Variety• Feel valued/able to contribute
University Survey
Top Career Choices: Academia, Defense, Natl Security (67% A&D)54% plan to remain same profession > 15 yearsTeacher, other adult primary influence on academic majorLeast cited reason for engineering career choice: desire to serve???
Perspectives on Careers
• Those interested in A&D– Interest in aircraft, defense or space– Ability to be on high profile projects– Technological challenge– Job availability during downturn
• Those note interested in A&D– Never known anyone in A&D– Salaries lower– Not interested in aircraft, defense, space
YP vs Univ Student: Selection of Major
Young Professional University Student
Personal Interests Personal Interests
Ability to Make Money Respect for the profession
Respect for the Profession Desire to contribute to society
For 2011
• Surveys out; due May 23• University Student survey – last two weeks
Apr• YP Survey – through May 20• Open survey at www.aviationweek.com May
9-30
New for 2011
• Tabulating data by size of organization• New AIA segment regarding STEM and
Education investment; metrics used to gauge impact
• Those organizations participating in YP study receive comp of organization / aggregate
• Universities: Cal Poly, Va Tech, GA Tech, Purdue, Michigan, Penn State, MIT