Oct 31 2015
As baby boomers retire in increasing numbers, developing engineering talent becomes a mission-critical process for companies across many industries. Top organizations have found that having the proper development programs in place is a key factor for success in developing and maintaining their pool of engineering talent. However, the data below from a Best Practices, LLC study encapsulates a key challenge facing companies: getting enough of their engineers to participate in these training programs.
- Across companies, an average of 94% of all engineers are eligible to participate in formal technical training programs, while 56% participate
- Continuing education programs have high average engineer eligibility at 91%, but these programs for the lowest participation rate of types benchmarked at 22%
- Experienced-based training programs are the most selective with only 67% of engineers eligible on average, but nearly half - 31% -are participating
To better understand how world class companies optimize their engineering development programs to meet current and future organizational talent requirements, Best Practices, LLC published a research study that examines best-in-class engineering development programs.
The report, Best Practices for Developing World-Class Engineering Talent, identified innovative, cost-effective and world-class practices, processes and tools that a company can adopt to ensure that the workforce continues to meet its growth objectives within the current market.
The study is based on a research project involving a benchmark class of 28 technology-rich companies and includes leading aerospace, manufacturing and utility organizations.
The report examines the strategic importance, engineer eligibility, participation & relative effectiveness of:
- Technical Training
- Experience-Based Training
- Continuing Education/ Reimbursement
- Benchmarks for annual cost and hours of training provided per engineer in the workforce
- Key sources of training materials
- Pros & cons of standardizing curricula
- Most effective metrics for measuring program success
- Innovative, best-in-class processes, tools & technologies that increase training program effectiveness
SOURCE Best Practices, LLC
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