Multi-bit screwdrivers are in common use around the hangars and many of them use magnetic retention. The advantage is that a steel screw placed on the bit stays there while you line it up. In working on compass adjusting (which I haven't done for many a long year) we used a special copper screwdriver, as even a non-magnetised steel driver affects the compass. You just have to use a bit of common sense.
We once had a problem when the Boeing Rep. handed out loads of freebie 'Boeing' Logo security pass holders. They gripped the shirt pocket using a magnet. Lord knows how many Nav Data Base floppy disks were corrupted before we cottoned on to the cause...
