Adapting to Change is Critical to a Successful Future
As the 2014 IAM labor negotiations approach, employees have asked questions about Lockheed Martin’s approach to being adaptable in a difficult economic environment and a more competitive market. This article addresses that topic.
Lockheed Martin has always worked to deliver the most innovative and technologically-advanced products in the world. The drive to deliver the best for our customers has propelled Lockheed Martin to success.
But in recent years, as customer budgets have remained flat and even declined, Lockheed Martin is faced with a new challenge---one that requires employees at all levels to adapt to the changes and increase their flexibility, so our Corporation can continue to be a leading innovator in the aerospace and defense industry—and in allied sectors and industries.
Our teamwork enables us to lead the industry. When Lockheed Martin leads our industry and meets customer commitments, we all benefit. This includes comprehensive and competitive benefits and pay, as well as an inclusive work environment that fosters collaboration. Employees are Lockheed Martin’s largest group of shareholders and that’s why the Corporation invests in its people through the latest training and technology to modernize our automated systems, provide state-of-the-art tools and a safe workplace, and maintain adherence to process disciplines.
Customer expectations are constantly evolving and we must adapt. Our team must have flexibility to change our playbook to win the game. Our competitors are adapting to the changes ahead. If we don’t adapt with them, we won’t come out on top.
Lockheed Martin also must take action to secure the company’s future through difficult, but fiscally responsible decisions such as consolidating facilities, reducing the workforce, and providing competitive pay and benefits. These decisions signal to investors that the Corporation is taking serious action to stay competitive.
The Corporation’s actions have also been recognized by investment firms like Wells Fargo, which recently noted that Lockheed Martin’s success in a difficult economic environment derives from its willingness to take decisive action to restructure and reduce costs.
This past year, the company made the difficult decision to close operations in four cities and four buildings on the Sunnyvale, Calif., campus.
Our reputation for performance and innovation is part of what defines us in our industry. As we move ahead, we also want to build the same reputation when it comes to understanding and adapting to our customers’ priorities. Meeting the needs of our customers will be critical to our success for years to come.
Our customers expect us to deliver a defect-free product that meets their expectations. Together, we will continue to deliver on our promise.