Aerospace and defense (A&D) executives know how to make the industry an attractive employer again. (Photo generated using DALL·E) This article is contributed by Stephane Lagut, EY Global Aerospace and Defense Leader. Across the world, our working habits have changed dramatically in the last few years. Very few industries have escaped this shift, and aerospace is no different. While still dealing with the effects of a massive dip in revenue, leading to large job losses across the industry, aerospace (along with other industries) is now facing what some are calling the Great Disengagement as it struggles to hire, retain and motivate its workforce. In the last 12 months, many executives in the industry have noticed a sharp drop in employee engagement, a steep rise in turnover, and a frightening lack of response to the instruments they usually use to keep their factories and workshops staffed. In a recent survey by the Aerospace Industries Association, the American Institute of Aeronautics and Astronautics and EY, 41% of A&D executives told researchers they thought employees had become less engaged in the last 12 months and 69% said turnover had increased. Overall turnover rose dramatically in 2022, to 7.1%, up from 5.8% in […]
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