Aviation Week’s 2015 Workforce Study reports that the aerospace and defense workforce shrank by 2% in 2014, but companies hired 55,000 people—about 10% from university campuses. In addition, the retirement rate for the industry continues to be under 2% and voluntary attrition at 5.7%.
The data on workforce and compensation represents the industry’s most comprehensive strategic view about the people who make up this industry. When Aviation Week launched the survey back in 1997, we had no idea how sophisticated the industry would become in applying data analytics to building a highly talented workforce ready for the future.
Through the Aviation Week Workforce Study, the industry can evaluate the strength of its ongoing learning programs, evaluate pay for a broad range of jobs as compared to other industries, send a more distinct demand signal to universities, colleges and institutions, and more accurately assess trends across multiple generations, job disciplines, and demographic groupings. This year’s study also includes a section on manufacturing, designed to set a baseline on the future needs for skills and personnel in operations organizations. The study also provides employees today and for tomorrow with the information needed to make career decisions.
In addition to strong partnerships with the Aerospace Industries Association and AIAA, we are particularly pleased this year to have two sponsors. Korn Ferry and PwC joined with us in January, bringing their expertise in terms of careers and data analytics to inform our overall process.