Boeing commits $ 100 million for employee development

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Dive brief:

  • Boeing to spend $ 100 million in new workforce development programs, the company said, as part of its pledge to invest $ 300 million in employee matchmaking programs and its donations charities focused on education, community, veterans and military personnel.
  • Boeing crowdsourcing employees on how to invest the money for learning and development. Heidi CapozziBoeing’s senior vice president of human resources said the company received more than 40,000 ideas from workers around the world. Improving digital literacy is a top priority for the company, along with understanding the trends that will impact future jobs within the manufacturing industry.
  • As part of the new programs, Boeing announced its partnership with Degreed to provide access to online courses and degree programs.

Dive overview:

As the struggle to find and hire skilled workers continues, employers are proactively developing the kind of employees they want through education and training. Companies are partnering with community colleges, higher education institutions and tech companies to prepare workers for jobs in demand and overcome an increasingly tight talent market. Unemployment continues to decline, now below 4%.

The importance of development should not be underestimated, as a retention tool and buffer for future technological disruption. Numerous studies show that employees place a high value on career development opportunities, with many willing to leave their current employer for development options elsewhere. Employers need to educate and train their own workforce to fill the skills gap in a tight labor market and stay competitive.

Boeing joins several other companies which have also broadened their development opportunities. Walmart, for example, just announced a return program that helps workers who have been on compassionate care leave readjust to the workforce through training. Investing in people and creating a culture of development can potentially increase engagement, retention and productivity, as well as future protection of the business from future disruptions.

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