Annual Review 2002

Read our objectives of adapting to the global economic slowdown, replacing the Council, and promoting the benefits of mechanical engineers and the Institution.

2002 proved to be a major watershed for us in our running and decision-making processes. Taking guidance from members, industry and the Council in 2001, we have in the last year been working steadily towards becoming a certificated body for Incorporated Engineers.

Within the engineering community, this year saw the introduction of the Engineering and Technology Board, chaired by Sir Peter Williams. We have closely followed its development, and are now looking for it to significantly raise the profile of engineers and engineering, and match the skills base of graduates to industries’ needs.

Adapting to the global economic slowdown

2002 proved to be a difficult year for many sectors of the engineering and manufacturing community – and indeed for us. Shrinkage in the sector has resulted in a dramatic reduction in the number of employment vacancies, reflected in reduced revenues to both recruitment advertising and exhibitors at recruitment fairs. These reductions have impacted significantly on Professional Engineering Publishing’s profitability. Further to this, required adjustments to our pension fund have necessitated the Institution to make significant changes in its working practices, including a number of voluntary redundancies.

Replacing the Council

From the positive result of a successful membership ballot, we established a new 12-person Trustee Board to replace the Council. The Trustee Board is meeting almost every month and decisions are taken quickly. These broad changes have enabled us to react more quickly to important issues, ensuring we can more effectively represent the needs of the membership.

Promoting the benefits of mechanical engineers and the Institution

2002 saw us continue to work with the government, contributing views on rail, energy and the increasing level of red tape. Our new schools and students policy has enabled us to determine the most effective way to communicate and promote engineering and Institution membership of to the engineers of the future.