The manufacturing industry is subject to market fluctuations for both hourly and salaried employees. As an employer, you’ll want to keep up with the latest pay trends. Payscale provides salary data for plant managers, manufacturing engineers, production supervisors, quality assurance supervisors and assembly line workers, among other positions.
In a pandemic, the manufacturing industry has struggled with labor shortages and resignations while the economy is also trying to recover. Competitive wages and total rewards packages are essential to attract talent in a hot job market.
After a rough two years of difficult working conditions during a pandemic in combination with rising inflation and increases in opportunity, employees are expecting higher than average pay increases to keep pace with the market.
In a hyperactive job market, you have to think about pay equity. Pay for new hires can outpace tenured employees, even managers, which can put you at risk of high voluntary turnover.
Following the pandemic, employees want to be able to work from home at least some of the time. The manufacturing industry is now having to consider location-based pay strategies that can accommodate remote work for at least some of its employees that don't have to be on site.
Payscale gives you access to current salary data that you can cut any way you like it — even by competitors! — so you can make pay decisions right now.
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The Payscale Index is publicly available data that tracks and compares wage growth by city, industry, company size, and job category. The Payscale Index draws from Payscale's Employee Reported data which includes a salary data cut specific to the finance and insurance industry.
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