CHAPEL HILL, N.C., Oct. 30, 2015 /PRNewswire/ -- 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
To access the full report or to download a complimentary summary containing insights found in this report, click on the following link: http://www3.best-in-class.com/rr1391.htm.
For related research, visit our Best Practices, LLC Web site at 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.
SOURCE Best Practices, LLC