Engineering and R&D firms face a long-term battle for talent. A recent study by Bain & Company discusses how successful companies are transforming engineering roles to attract and retain top talent.
73% of engineering & R&D companies report talent gaps.
To win the war for engineering talent CTO of leading companies are tapping into new talent pools:
- ALUMNI: 50% of surveyed alumni said they were willing to return if their former employer significantly improved the work environment
- GRADUATES: Partnerships with universities allow leading companies to seek out young talent
- FREELANCERS: Gig workers can help fill talent gaps, especially in IT and digital engineering roles
To attract talent, hiring managers should also provide career path transparency. The researchers found that shortening the promotion cycle helps to secure young and midcareer employees. Engineers want to understand what it takes to earn a promotion.
Full report: Engineering and R&D Report 2023: innovation, talent and the quest to create value – Bain & Company, April 2023