Interested in viewing this valuable resource? Log in if you are an MRA member and click the download button to the right. If you are not a member, click below to fill out a short form and it will be emailed to you.
Despite the country having high unemployment, skill shortages have continued to be a challenge for organizations that specialize in manufacturing. Demand for skilled labor was an issue for organizations pre-pandemic and the difficulty of recruiting quality candidates has only increased as we start to move beyond it.
To combat the recruiting challenge, more organizations are increasing starting pay and/or including a sign-on bonus. These short-term decisions can have long-term consequences and organizations need to evaluate both the immediate recruitment need and how they look to position themselves for the future.
Your culture is so valuable to your recruiting strategy. Having the right representation in your conversation, website presence, and job postings of the culture that candidates can expect is vital to finding and retaining a long-lasting employee. If you are discussing a culture that is aspirational or are not transparent, you run the risk of a new employee not understanding your culture or feeling that it was misrepresented.Valerie GrubeDirector, Recruiting, Background Investigations & Retention Services
A key focus in MRA's 2021 Benchmark Compensation survey was the value of knowing and promoting your competitive total rewards package as a way to influence retention of current and future staff. Rewarding employees doesn't have to stop with base pay.
Keep in mind other rewards and perks like health insurance, retirement contributions, life insurance, paid time off, remote work, and more. This can help with employee satisfaction, engagement, and more importantly, their commitment to your organization.
MRA's history of producing meaningful and reliable compensation data over the years should be used as a source as you benchmark your organization's jobs, seeing how they compare to the current market at the same time aligning with your compensation philosophy.
Results of the questions that were surveyed are shown in tables within this summary. They include additional breakouts by state when enough clean, relevant data was present.