KANSAS CITY, Kan. -- The newly released Compensation Data Manufacturing 2009 survey results show pay increase budgets have fallen to 1.9 percent.
Although pay increase budgets are down this year, the manufacturers and distributors surveyed have projected an increase in 2010 to 2.5 percent. These numbers further reinforce predictions of little economic growth in the coming year.
“For many years, pay increase budgets were stagnate across all industries. The recent downturn is indicative of increased economic pressure,” said Amy Kaminski, manager of marketing programs for Compdata Surveys. “With layoffs commonplace, many companies are working to keep current employees on staff, while keeping the organization afloat. Increasing pay is of little concern.”
The Compensation Data Manufacturing results found pay increase budgets are highest in Oregon at 2.6 percent. Oklahoma follows with an average of 2.5 percent. New Hampshire has the lowest pay increase budget, 1.0 percent.
Pay increase budgets vary within the manufacturing industry. Non-durable has the highest percentage, 2.2 percent, while durable has the lowest, 1.7 percent. The 2009 Compensation Data Manufacturing results show projected budgets for 2010 are 2.4 percent for durable goods manufacturers and distribution/warehouse. Comparatively, non-durable has the highest projected pay increase budget, 2.6 percent.