April’s arrival, often synonymous with bonus season, historically marks a period of increased resignations as professionals globally reassess their career paths after receiving bonuses. This undoubtedly prompts a shift in the employment landscape. Our focus on the engineering and technology sectors, within space, satellite communications (satcom), aerospace, and defence, allows us to unravel the nuances of employment trends and market demands, examining trends within the UK, US, mainland Europe, and Australia. So, let’s get unravelling.
A Global and Regional Overview:
The demand for engineering talent continues to surge, especially in aerospace and advanced technology. Key roles such as System Engineers, Embedded Software Engineers, and Propulsion Engineers are particularly sought after. This demand extends to senior positions, including Senior Electrical Engineers and Senior Thermal Engineers, alongside consistent needs for software-related expertise like Flight Software Engineers and GNC Engineers. These sectors offer unique career longevity opportunities. Professionals in these fields typically experience a market tenure of 5 to 7 years before considering a move. We believe this tenure reflects the time needed to contribute significantly to projects and accumulate valuable expertise that enhances employability in a niche market.
Writing those all-important Job Descriptions:
In a continuously mobile talent landscape, the need to attract talent is constant and ever-present. Creating job descriptions that are both appealing and transparent is crucial in attracting a diverse range of applicants. Highlighting core responsibilities and required qualifications is essential, as is emphasising the value your organization places on various initiatives and ways of working within the workplace culture. It’s important to be honest about the challenges and opportunities within the role as this sets realistic expectations and attracts individuals genuinely interested and motivated by the role and the company’s vision.
Salary Benchmarking:
At Holt Executive, we are frequently asked to support with salary benchmarking. Here is our insight into the remuneration for these roles, which varies by region, reflecting the local demand for specialised skills:
Manufacturing: In the US, $130K – $150K; in the UK, £40K – £60K; mainland Europe sees €50K – €70K, while Australia offers AU$70K – AU$110K.
Technical Engineering Roles: US figures are $140K to $155K, the UK offers £45K to £70K, mainland Europe has €55K – €85K, and in Australia, it’s AU$80K – AU$130K.
Systems Engineering: Approximately $145K in the US, £50K to £75K in the UK, €60K – €90K in mainland Europe, and AU$90K – AU$140K in Australia.
Digital Operations: In the US, the peak is at $90K – $100K, the UK at £35K – £60K, mainland Europe at €40K – €65K, and Australia at AU$60K – AU$100K.
Sales, Business Development, Account Management: US salaries range from $150K – $170K, in the UK it’s £50K to £80K, mainland Europe offers €60K – €100K, and Australia ranges between AU$80K – AU$150K.
Specialised Engineering Fields (GNC, Dynamics, Control Systems): The US sees $150K to $160K, the UK has £55K to £80K, mainland Europe €65K – €95K, and in Australia, it’s AU$100K – AU$160K.
Project Management: Averages at $100K – $110K in the US, £40K to £65K in the UK, €45K – €70K in mainland Europe, and AU$80K – AU$120K in Australia.
These salary ranges offer a snapshot of the financial trajectories for professionals within these fields, indicating how the valuation of expertise is evolving with the technology and business landscapes across different regions. This is, of course, a high-level guide. For a more in-depth insight into specific roles, please get in touch.
Guidance on Counteroffers Upon Employee Resignation:
In the event of a valued employee’s resignation, the contemplation of a counteroffer is a critical juncture. Counteroffers can be a strategic tool, yet they require discerning judgment to ensure they align with both organizational goals and the dynamics of employee engagement. It is advisable to consider a counteroffer when the employee’s departure significantly impacts ongoing projects or when their unique skill set is difficult to replace in the short term. Such an offer should reflect not only competitive compensation but also address any professional growth and work-life balance concerns that might have prompted their resignation.
Conversely, counteroffers should be approached with caution if the resignation indicates deeper issues of cultural fit or if the employee has a history of dissatisfaction unlikely to be resolved by financial incentives alone. In these cases, a counteroffer might only serve as a temporary fix, potentially delaying inevitable departure and affecting team morale. It’s crucial for organisations to weigh the immediate benefits of retaining talent against the long-term health and dynamics of their team. Strategic human resource planning and open communication channels are key to navigating these decisions, ensuring that any action taken aligns with the organisation’s overarching vision and values.
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At Holt Executive, we are well-positioned experts in recruiting within your sectors and recognise the critical importance of swiftly addressing your talent needs to minimise operational disruption. Our approach is tailored to the unique dynamics and demands of the industry, ensuring that we quickly source and place top-tier talent leveraging our extensive network and deep understanding of the market. This responsiveness and dedication to meeting your needs ensure that your projects continue to advance without delay, maintaining your competitive edge in the market. We are committed to being more than just a service provider; we are your strategic partner in talent acquisition, focused on delivering results that propel your organisation forward. Let’s connect to see how we can help you.
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