Key Takeaways
- In 2023, 68% of engineering companies reported challenges in sourcing qualified mechanical engineers due to skill shortages.
- Engineering firms saw a 45% increase in time-to-hire for electrical engineers from 2021 to 2023, averaging 62 days.
- 72% of HR leaders in engineering cited competition from tech giants as the top barrier to hiring civil engineers.
- Women hold 28% of engineering roles industry-wide as of 2023.
- Ethnic minorities represent 24% of the engineering workforce in 2023.
- 15% increase in LGBTQ+ engineers hired since 2020 in major firms.
- Engineering turnover rate averaged 14.2% in 2023.
- 42% of engineers cited work-life balance as top retention factor.
- Voluntary turnover in engineering firms was 11.8% for mid-level roles.
- Average engineering salary increased 5.2% in 2023 to $112,000.
- 78% of engineering firms offer 401(k) matching at 4-6%.
- Bonus pay averaged 12% of base for senior engineers.
- 73% of engineers received training hours averaging 45/year.
- 82% of firms budget $2,500 per engineer for professional development.
- Leadership training covered 58% of mid-level engineers.
Engineering HR faces talent shortages, hiring delays, fierce competition, and a strong reliance on referrals and AI tools.
Compensation and Benefits
- Average engineering salary increased 5.2% in 2023 to $112,000.
- 78% of engineering firms offer 401(k) matching at 4-6%.
- Bonus pay averaged 12% of base for senior engineers.
- Health insurance premiums covered 85% by employers.
- Equity grants in engineering startups averaged 0.5% vesting over 4 years.
- PTO averaged 20 days plus 10 holidays for engineers.
- 62% offer tuition reimbursement up to $5,250/year.
- Overtime pay for exempt engineers at 1.5x after 40 hours.
- Relocation packages averaged $15,000 for engineers.
- 55% have profit-sharing plans distributing 3-5%.
- Gender pay parity achieved in 43% of engineering firms.
- HSAs funded 50% by employers averaging $1,200.
- 71% provide gym memberships or wellness stipends $500/year.
- Long-term disability coverage at 60% salary replacement.
- 48% offer student loan repayment up to $2,000/year.
- Commuter benefits averaged $300/month tax-free.
- 66% have parental leave at 12 weeks paid.
- Performance incentives tied to 15% variable pay.
- 52% increased salaries 6% due to inflation in 2023.
- Life insurance 2x salary standard in engineering.
- 59% offer mental health days as benefit.
- Pet insurance adopted by 23% of firms.
- 67% have annual compensation reviews.
- Severance averages 2 weeks per year served.
- 44% provide childcare subsidies $4,000/year.
- Total rewards packages valued at 30% above base pay.
Compensation and Benefits Interpretation
Diversity and Inclusion
- Women hold 28% of engineering roles industry-wide as of 2023.
- Ethnic minorities represent 24% of the engineering workforce in 2023.
- 15% increase in LGBTQ+ engineers hired since 2020 in major firms.
- Only 12% of senior engineering leadership is female in 2023.
- 37% of engineering firms have DEI training programs mandatory in 2023.
- Black engineers make up 5.5% of the total workforce in 2023.
- Hispanic/Latino engineers increased to 9% from 7% in five years.
- 22% of engineering internships went to underrepresented minorities in 2023.
- Gender pay gap in engineering stands at 18% favoring men in 2023.
- 41% of firms track DEI metrics quarterly in engineering HR.
- Asian engineers comprise 19% but face bamboo ceiling in promotions.
- Disability disclosure in engineering hiring rose to 4% in 2023.
- 29% improvement in diverse team innovation metrics in engineering.
- 63% of engineering leaders support blind resume screening for DEI.
- Veteran hiring in engineering reached 8% of new hires in 2023.
- 51% of firms have ERGs for women in engineering.
- Intersectional DEI programs cover 34% of engineering companies.
- Retention of diverse engineers improved 12% with mentorship.
- 17% of engineering patents from diverse teams in 2023.
- Age diversity: under 30s are 28%, over 50s 22% in engineering.
- Neurodiversity hiring initiatives in 19% of tech-engineering firms.
- 45% of DEI budgets increased 20% YoY in engineering HR.
- Inclusive culture scores 25% higher in diverse engineering teams.
- 33% of firms audit for bias in engineering promotions.
- Indigenous engineers represent 1.2% with targeted programs growing.
- 56% employee satisfaction boost from DEI efforts in engineering.
- Engineering turnover for minorities dropped 9% with DEI focus.
- 27% of board seats targeted for diversity in engineering corps.
Diversity and Inclusion Interpretation
Recruitment and Hiring
- In 2023, 68% of engineering companies reported challenges in sourcing qualified mechanical engineers due to skill shortages.
- Engineering firms saw a 45% increase in time-to-hire for electrical engineers from 2021 to 2023, averaging 62 days.
- 72% of HR leaders in engineering cited competition from tech giants as the top barrier to hiring civil engineers.
- Only 34% of engineering job postings received over 50 applications in 2023, down from 52% in 2019.
- 55% of engineering recruiters used AI tools for resume screening in 2023, improving match rates by 28%.
- Campus hiring for chemical engineers dropped 19% in 2023 due to remote work preferences.
- 61% of engineering firms offered signing bonuses averaging $12,000 for software engineers in 2023.
- Diversity hiring goals were met by only 27% of engineering companies for women in STEM roles in 2023.
- Referrals accounted for 41% of hires in engineering firms, highest among all industries.
- 76% of engineering HR reported needing more data scientists, with 90% vacancy fill rate challenge.
- Average cost-per-hire for aerospace engineers reached $18,500 in 2023.
- 49% of engineering postings required hybrid work, reducing applicant pools by 33%.
- Engineering intern conversion to full-time hires was 67% in top firms in 2023.
- 58% of HR in engineering used LinkedIn for 80% of sourcing in 2023.
- Skill mismatch affected 63% of rejected engineering candidates in 2023.
- Female representation in engineering hiring pipelines was 22% in 2023.
- 71% of engineering firms increased recruiter headcount by 15% in 2023.
- ATS adoption in engineering HR rose to 89%, cutting screening time by 40%.
- 52% of engineering hires were internal promotions in large firms in 2023.
- Video interviews were used by 82% of engineering recruiters, speeding hires by 25%.
- 64% of engineering companies struggled with hiring biomedical engineers due to regulatory skills gap.
- Offer acceptance rate for industrial engineers was 78% with relocation support.
- 59% of HR reported ghosting by candidates at 30% rate in engineering.
- Engineering firms saw 38% YoY increase in demand for sustainability engineers.
- 67% of hires in engineering required upskilling interviews in 2023.
- Passive candidate sourcing via networks yielded 55% better quality hires.
- 73% of engineering HR used employer branding to attract 25% more applicants.
- Time-to-fill for petroleum engineers averaged 85 days in 2023.
- 44% of engineering job offers included equity compensation to compete.
- 69% of recruiters prioritized soft skills in engineering hires equally with technical.
Recruitment and Hiring Interpretation
Retention and Turnover
- Engineering turnover rate averaged 14.2% in 2023.
- 42% of engineers cited work-life balance as top retention factor.
- Voluntary turnover in engineering firms was 11.8% for mid-level roles.
- 67% of departing engineers joined competitors for better pay.
- Retention bonuses retained 78% of critical engineering talent.
- Average tenure for software engineers is 2.8 years in 2023.
- 55% of HR linked turnover to lack of career progression.
- Engineering firms with flex hours saw 22% lower turnover.
- 31% turnover reduction via employee engagement surveys.
- Cost of turnover per engineer averaged $75,000 in 2023.
- 49% of engineers plan to leave within 2 years per surveys.
- Mentorship programs cut junior engineer turnover by 35%.
- Remote work increased retention by 18% in engineering teams.
- Exit interviews revealed burnout in 53% of engineering departures.
- 64% retention rate boost from internal mobility programs.
- High performers turnover 9.5%, costing 3x more to replace.
- 72% of firms use stay interviews quarterly for retention.
- Turnover spiked 28% post-promotion denials in engineering.
- Wellness programs reduced turnover by 16% in engineering.
- 41% of turnover linked to poor manager relationships.
- Engineering tenure rose 0.5 years with hybrid models.
- Predictive analytics cut turnover prediction accuracy to 82%.
- 56% lower turnover in firms with clear succession plans.
- Female engineer turnover 20% higher than males.
- 37% turnover from lack of challenging projects.
- Alumni networks rehire 15% of ex-employees.
Retention and Turnover Interpretation
Training and Development
- 73% of engineers received training hours averaging 45/year.
- 82% of firms budget $2,500 per engineer for professional development.
- Leadership training covered 58% of mid-level engineers.
- Online certifications completed by 67% boosted promotions 20%.
- 49% use VR for technical skills training in engineering.
- Mentorship pairs assigned to 71% of new hires.
- 64% ROI from upskilling programs in productivity.
- Soft skills training attended by 55% annually.
- 76% firms have individualized development plans.
- AI/ML training demand up 40% for engineers.
- Cross-functional training reduced silos by 33%.
- 52% budget increased 15% for L&D post-pandemic.
- Microlearning modules used by 68% for just-in-time training.
- 61% track training effectiveness via KPIs.
- Women in engineering training programs up 25%.
- 47% offer sabbaticals after 5 years for development.
- Simulation-based training improved safety compliance 29%.
- 70% complete compliance training annually.
- Peer-to-peer learning platforms adopted by 59%.
- 38% increase in agile methodology certifications.
- Executive coaching for 22% of senior engineers.
- 65% use gamification in training, engagement up 50%.
- Diversity training mandatory for 44% of staff.
- 53% ROI on sustainability training initiatives.
- Hackathons for skill dev attended by 62%.
- 74% have succession training pipelines.
Training and Development Interpretation
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