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Now is the time for manufacturers to act on compensation and benefits

January 17, 2019 Article 2 min read
Authors:
Kreg Brown
Do you know what it takes to attract, retain, and incentivize key employees? To create attractive compensation and benefit plans, read more at CompanyWeek.
Manufacturing employees discussing benefits in from of computers

According to the U.S. Bureau of Labor Statistics (BLS), the manufacturing sector’s employment has grown since 2010, rising to more than 12 million individuals. In fact, the BLS’s key employment indicator recently increased to 65.4, its highest level since November 2014. Any value above 50 indicates net job gains. As local and national economic conditions continue to improve and anticipated tax and regulatory reforms spur further economic growth, it’s reasonable to expect that employee hiring and retention issues will be critical to the manufacturing industry in response to an increased demand for skilled labor and executive talent.

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