To attract and retain top talent , these companies are developing hiring strategies that incorporate much more attractive working conditions . The next generations of workers are looking for more connection to their jobs and their employers . The following approaches can be helpful in recruiting new workers to the supply chain :
» Focus on branding the industry as a mission-driven industry .
» Incorporate flexibility into the workforce environment and schedules , with remote work when applicable .
» Offer clear pathways for career progression , including promotions and raises .
» Develop a future-ready workforce by encouraging a culture of innovation and building digital skills .
» Sustain collaboration between the industry and its education partners through opportunities like internships and apprenticeships .
» Deepen and target employee evaluation programs to diagnose the root causes of specific workforce challenges via employee surveys , annual reviews , etc .
FOCUSING ON SUPPLY CHAIN VISIBILITY AND
RESILIENCE
The challenges of the supply chain have added a new layer of intricacy to an already complex system . The ongoing disruptions are severely affecting the industry ’ s manufacturing plans . As a result , these companies should consider focusing on increased visibility and resilience
There is a lot of uncertainty heading into the year 2024 with internal and external factors affecting the health and resiliency of the aerospace supply chain . Even with strong increases in new aircraft orders signaling growth in the upcoming years , optimism around the growth is held in check by caution from ongoing risks .
Supply chain disruptions , talent shortages , and inflation are likely to be the biggest challenges . Cost pressure and inflation may remain high and could further reduce the operational efficiency and margins of companies . Furthermore , they can expect elevated uncertainty from various potential global disrupters .
Company management should proactively prioritize strategies for flexibility in the workforce , and take calculated steps toward modernizing manufacturing capabilities if they want to survive in this increasingly challenging environment . This can be accomplished through digital innovation , talent retention , sustainable manufacturing , and focusing on supply chain visibility and resilience .
GROWING YOUR BUSINESS THROUGH EXPORTING
Washington State Department of Commerce has several opportunities for diversifying your supplier base and building relationships with suppliers from other countries . You can join our team at several international events in 2024 .
» The Aerospace and Defense Supplier Summit from March 12 to 14 , 2024 in downtown Seattle , where over 50 % of attendees hail from international companies , offering a unique opportunity for Washington businesses to forge global partnerships . The event organizers facilitate impactful businessto-business meetings , creating a platform for showcasing products , capabilities , and services . This approach marks a strategic entry into the international aerospace and defense arena , emphasizing the value of personalized interactions and networking opportunities to enhance global partnerships .
» The Aircraft Interiors Expo in Hamburg , Germany , from May 28 to 30 , 2024 , where the Washington State Delegation heighten the visibility of our companies within the global aviation community . Tailored marketing support and cost-effective participation enable Washington companies to position themselves as industry leaders in the aircraft interiors sector .
» The Farnborough International Airshow in the UK from July 22 to 26 , 2024 , where the delegation amplifies exposure , connects with industry leaders , and facilitates collaborations that transcend borders .
» The Japan International Aerospace Exhibition from October 16 to 18 , 2024 . Joining the Washington State Delegation at this event provides access to key decision-makers in the Japanese aerospace market , offering a gateway to establish a robust presence in the dynamic Asian aerospace industry .
Washington State small businesses benefit from the support of the STEP grant program . Funded by the U . S . Small Business Administration ' s State Trade Expansion Program ( STEP ), the Export Vouchers provide direct cash assistance to qualified small businesses looking to expand in foreign markets . STEP is funded in part through a Cooperative Agreement with the U . S . Small Business Administration , ensuring that Washington State companies not only soar to new heights on the international stage , but also receive valuable financial support for their global expansion efforts .
74 NORTHWEST AEROSPACE NEWS
PNAA ADVANCE / 2024