Only 37 percent of engineers say they are very likely or completely likely to be employed by the same company five years from now.
Of those engineers who might leave their current role, 32 percent stated that moving to another company would be the reason they leave their current role. That percentage rises to 37 percent of those in the Electronics industry and 51 percent for millennials.
These results, from the “2018 Pulse of Engineering” survey conducted by IEEE GlobalSpec Media Solutions, point to the conclusion that engineers are on the move—and the impact on manufacturers and their marketing strategies can be significant. You may have invested significant time and resources toward building relationships with these engineers, only to have them move to another company.
Your goal, then, must be to make sure that when engineers move, they take you with them. How can you do this? By making your company so valuable to them that they couldn’t imagine starting a new job without your company as their ally.
Manufacturers Can Be Trusted Providers of Content
You might gain an advantage if your company can play a role in helping engineers advance along their learning curve. One of the keys is to produce content valued by engineers.
When asked how they systematically or formally maintain, educate and advance their professional skills, engineers answered books, colleagues, online training courses and webinars. Next most popular were technical white papers by vendors. And to complete projects they are working on, engineers turn to technical documentations, software and development tools, and product specification datasheets.
It may be a good time to review and possibly upgrade your company’s online training, webinars, technical documents and white papers.
Engineers May Leave, But You Can Stay
If you establish strong enough relationships with engineers, they may recommend you in their new positions when they change companies. Additionally, you still want to remain entrenched in their previous company, and the way to do that is to be an indispensable knowledge resource.
Engineers admit that knowledge or information loss is moderately (28 percent), very (31 percent) or extremely important (16 percent) as employees left their company. Yet 55 percent of companies surveyed don’t have formal practices in place to identify senior-level and specialized experts to train, transfer, mentor, manage or retain their knowledge among others in the organization. On average, engineers gave a 5.2 out of 10 satisfaction score for their company’s talent or knowledge management processes.
A significant gap exists between where companies are and where they should be in terms of maintaining, managing and transferring knowledge internally. That gap creates an opportunity for manufacturers to step in and provide customized content and training that will benefit these companies as well as embed the manufacturer within the company because of their expertise. Forty-four percent say that design involvement from external partners and vendors is increasing.
Whether engineers are moving to other companies or trying to retain knowledge when others have left, manufacturers can step up by providing the important content that can make them an invaluable resource to their present and future customers.