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In a recent conversation with an automation company’s Senior VP of Human Resources, she mentioned how we might see a smaller number of engineers retiring because of the decreased value of retirement savings. She suggested that engineers who planned to retire in the next five years may actually not retire for another eight years or so.

In other words, the country’s economic woes might end up helping the engineering workforce, as it will keep older engineers available to share their knowledge with younger engineers who are just starting in their jobs. We still may not be prepared to fill the jobs that will eventually be vacated by the aging engineering workforce, but at least the economy has given us a little reprieve.

Of course, we can’t neglect this engineering workforce who must work a little longer. They need to be challenged, so they don’t grow weary with their jobs and become less productive. When it comes to the engineering talent shortage, it’s all a delicate balance.

We all know there’s an engineering talent shortage. In the United States and the world, there are not enough engineers to meet future demand (especially with the large numbers of engineers planning to retire). 

I heard something recently from a pump recruiting manager that was equally worrisome. Engineers just graduating from college are jumping from job to job after only three to six months of work. Motivated by a higher paycheck, these young engineers sometimes accumulate a resume of five to eight jobs in two years.  

This is a rather troubling result of the talent shortage. Knowing that their skills are in high demand, some young engineers are naming their price and taking advantage of the needs of the companies. This economy may do something to curb this phenomenon, but it’s a trend worth watching over the next few years.