Aerospace Industry Update

Issues within the Industry
The consolidation within the aerospace industry in recent years has highlighted the necessity for companies within the industry to develop truly global capabilities for design, manufacture, supply, & service. 

In what will continue to be a technology driven business, strong investment in technological capabilities will be necessary. The ability to deliver on a global basis also necessitates that companies have a comprehensive international supply chain structure. The current focus of many companies is on execution and efficiency, highlighting the need for an effective program management function. The integration of technology on aircraft has created increasing demand specifically in the area of systems engineering. The present economic downturn will test management skills in directing resources and right-sizing overhead. The challenges of aerospace businesses are exacerbated by the fact that, within the next five years, more than 25% of their employees will be eligible for retirement. This applies to all levels & functions and how effectively companies deal with this transition will likely be a key differentiator of success. 

Talent Management
With these issues in mind, the critical elements of talent management for aerospace companies include the following:

• Developing leaders with broad-based strategic abilities, with diverse global experience, able to lead complex organizations through constant change
• Retaining key contributors in the midst of what will continue to intense demand for talent, likely leading to "talent wars" among the major players in the industry
• Attracting the necessary talent and leadership to advance systems & processes in such key functional areas as systems engineering, supply chain and program management
• Anticipating the exodus of baby boomers in coming years

In the current economy, companies that put talent management "on hold" run the risk of losing top talent, falling "out of touch" with the marketplace and being "outpaced" by competitors.


The Search Partner
In this demanding environment, companies will be well-served with a search partner that

• Understands the industry and can discern talent in key areas
• Can represent its client in the marketplace in identifying the very best candidates and can attract their attention to the client's opportunity
• Is able to see the "big picture" relative to its client's longer term talent needs, who can define the culture of the client company and assess candidates accordingly
• Has the flexibility & capability to support the client in projecting future needs, in anticipating talent acquisition needs, engaging in "talent mapping" projects, providing insight regarding market trends.

Aerospace Searches recently completed by the Coleman Search Consulting Team

• Group Operating Executive - $700MM business
• President - Information Systems Business- $200MM business
• General Manager - $90MM business (+ other GM searches)
• VP Program Management - $800MM Division
• VP Global Customer Management - $500MM Aftermarket Business
• VP Lockheed Martin Programs
• VP Engineering - $600MM Avionics business
• VP Engineering - $250MM Electrical Power business
• Director Platform Program Management -Boeing 787