Engineering Talent Becoming Scarce Commodity; Organizations Struggling to Optimize Talent Pipelines

CHAPEL HILL, N.C., Aug. 2, 2013 /PRNewswire/ -- Attracting and retaining top engineering talent continues to be a challenge for employers facing an increasingly competitive skilled labor market. Ultimately, company leaders need to develop savvy tactics for attracting and retaining top-level expertise and skill sets in order to bolster their engineering talent.

With many companies across key sectors such as technology and aerospace facing similar knowledge retention challenges, Best Practices, LLC conducted a primary research study on the issue. The subsequent report, "Best Practices for Developing Critical Engineering Talent," provides leaders with critical benchmarks to help in identifying successful engineering development and retention practices.

The research project showed that best-in-class leaders focus on internal development programs in order to expand their engineering talent. Also, co-op and internship programs are widely viewed as the most effective programs for attracting engineering students. Eighty-five percent of the companies participating in the study maintain both of these programs, with the collective goal being to engage and encourage new engineering talent.

Key study topical areas include:

• Design and Effectiveness of Key Engineering Development Programs:
  • Internships/Co-ops
  • Rotational Development
  • Mentoring/Coaching
  • Leadership/non-technical Development
  • Continuing Education
  • Certificates & Professional Memberships
• Innovation & Best-in-Class Approaches for Today's Environment

This benchmarking research drew participation from 20 leading companies. Due to the high level of response from aerospace companies, an aerospace-data segment is included in the report as well.

To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/re1536.htm.

For more information on this study or other recent primary research studies, contact us at 919.403.0251 or to learn more about best practices in new product launches and other benchmarking insights, visit our website at http://www.best-in-class.com.

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.

SOURCE Best Practices, LLC