The following is provided in cooperation with our national partners and allies at the Manufacturing Institute:
In data and conversations, manufacturers continue to recount the difficulties that they are having with attracting and retaining workers. Compensation practices have needed to adapt – sharply for some companies – considering the local and national competition for workers, but companies cannot solve these challenges simply by increasing wages and benefits alone. As such, manufacturing firms have turned to other methods to address the skills shortage at their companies.
The Manufacturing Institute’s Center for Manufacturing Research released a new study that explores these issues: “The Manufacturing Experience: Compensation and Labor Market Competitiveness,” in partnership with Colonial Life. This paper lays out what some companies have done with the goal of helping other companies learn from their experiences. Click here for the release and click here for the study.