Boeing's internal demographic
statistics show a vulnerability during the next ten years where thousands upon
thousand will be leaving the company through Retirement. The baby boomers will
be "dropping the mic" and leaving the company. Boeing just announced
it will be laying off 4,000 plus workers through attrition. The HeraldNet reports
about 7,000 to 9000 could go sooner rather than later. It also reports about
7500 Professional Engineering Employees in Aerospace SPEEA
workers are over 50 years of age which brings up a well-known consideration,
"Succession Planning".
Every
company, organization or public governance prepares an annual plan for its
workforce. Boeing has had many years for this day for the HeraldNet's
reporting. Boeing has a know-how vulnerability during the next ten years.
Perhaps announcing the 4,000 layoffs last week signaled a succession planning
correction. Boeing knew it was losing thousands of workers due to retirement, even though it was something it had planned for a long time. It now will announce those
retirements masked through a workforce reduction statement which is Stock Market speak
"everything is Okay we are a responsible corporation". They are
pruning the hedge when in fact too many will leave too soon, and Boeing will
have to hire too many too fast in the near term while using a 4,000 workforce
reduction announcement through attrition when it really obscures the real problem of an aging workforce.
Succession
planning is nothing to be feared as Boeing will inflow its workforce from many outside
sources, especially those who can't match Boeing's pay or career opportunity potential. It is a (Puget)
sound bet, University and Trade industry applicants can supply the partially trained workforce, before
the (in training) workforce requires its premium working knowledge as a Boeing
Engineer or Mechanic.
After all,
not everyone is retiring in the next 10 years from Boeing. It has a strong
workforce under the age of 45. This is the heart of Boeing that should never be
ripped out. They are the standard bearers for Boeing's future which should be
the real succession planning talking point. How is Boeing's aging workforce component
from age from 25 to age 50? It represents about 80% of the workforce for what Boeing is doing as an
airframe maker. The plan Boeing is currently showing is a workforce trimming,
controlling what it can control looking forward with its future plans.
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