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Ageing workforce puts North American Aerospace & Defence Industry under a cloud – Accenture study |
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New research from Accenture says that the North American aerospace and defense industry will face serious business challenges due to its existing leadership development, talent sourcing, organizational structure, and corporate culture problems. The findings, the company said, stem from a survey and interviews with a broad range of industry executives.  According to the research, high percentages of skilled workers are rapidly approaching retirement age. More than half (51 percent) of respondents indicated that the potential for decreased business performance due to changing workforce demographics is either looming or critical. Additionally, 67 percent of the executive respondents lack confidence in their company’s ability to execute programs to develop future leaders. Consistent with this finding, 63 percent lack confidence in their company’s capability to deal with human capital challenges, Accenture said.Several cultural and leadership barriers figured prominently in the research. The executives were especially concerned, for example, that some aerospace and  defense companies tend to be too big and impersonal and that command-and-control mentalities inhibit the kind of collaborative management techniques needed to succeed in today’s business environment. The research also revealed that the biggest organizational structure challenges these companies face include silos that prevent the flow of information and communication, turf battles and dispersed multi-site operations. Innovations that can overcome the hurdles Despite these hurdles, the Accenture research found many ways leading companies are striving to achieve high performance through distinctive human capital capabilities. Several innovative programs for overcoming talent shortages include involving military veterans with disabilities, collaborating with universities and local businesses. Some companies are expanding their traditional leadership development programs to stress a broader suite of capabilities. Other companies are more explicitly embracing a diversity of backgrounds and talents throughout their culture. Still others are devising governance structures that encourage a more agile organization. Accenture is of the opinion that the key to developing the human capital capabilities needed in the decades ahead is a more comprehensive approach that goes beyond a traditional focus on employee sourcing only. |
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