As demand for engineering talent grows, employers will increasingly struggle to hang on to their best and brightest: 67% of engineers say they are likely to explore other job opportunities this year and 81% are confident they will land that new role.
In this highly competitive talent landscape, employers need to rethink talent retention; this is according to a national survey conducted by Experis, the professional resourcing and project-based solutions arm of ManpowerGroup.
This annual survey finds that though job hopping is on the rise, the majority of engineers (96%) are happy with their career choice and have no plans to switch—95% would recommend engineering to others. This is good news, as a positive industry outlook is essential to building a pipeline of future talent, but the current skills shortage shows there is still a ways to go before supply catches up to demand.
“Engineering roles continue to rank among the most difficult jobs to fill both in the U.S. and around the world, according to our global talent shortage survey,” said Rich Hutchings, Experis Vice President of Engineering, in a press release. “The talent crunch and ease of job hopping today means employers need to get serious about their retention strategies, and that requires a deeper understanding of what engineers really want from their jobs. From pay and office culture to work-life balance, employers cannot afford to be complacent when it comes to attracting and retaining top talent.”
The results show engineers’ priorities have shifted since last year, and they are getting more selective about where they work. While pay remains the top draw for candidates, “workplace environment” has jumped up to the number two spot (up from number four in 2016), and “more interesting / challenging work” is now on the list.
Both point to the importance of company culture as well as a desire—particularly among Millennial and Gen Z workers—to gain the experience and skills that will help pave the way towards advancement and future employment.
The full list of top considerations for engineering candidates includes:
- Salary, bonuses and/or incentives
- Better work environment/culture
- More interesting/challenging work
- Improved work/life balance
- Health benefits
- Feeling valued/appreciated
The infographic, below, highlights more key findings from this survey. For more information on attracting and retaining engineering talent and other industry best practices, click here.