COMP NEWS – The Dayton Region Manufacturers Association released their yearly compensation survey data. The survey results show that manufacturers’ wages in the Dayton, OH region are trending up.
DRMA has released the survey for more than a decade. One observation to be gleaned from the latest survey is that wages are indeed rising, said Angelia Erbaugh, DRMA president. “The wages are trending up, and other components of the compensation are, too,” Erbaugh said.
Results of the 2021 survey help companies determine their competitiveness in the industry and offers a look at best practices. The survey covers trends in compensation, employee benefits, work schedules and recruitment and retention strategies.
This DRMA survey gives employers in the manufacturing industry a benchmark to see how they are competing with other companies in the industry. Compensation surveys such as these are crucial in this current competitive labor market. Not only do employers want to make sure they are paying their employees fairly, but they also want to make sure employees are receiving other benefits as well.
Jim Bowman, owner of Dayton manufacturer Noble Tool LLC, called the survey “a benchmarking tool for us.” “We want to offer a total compensation package that is competitive in the region, and then add to that the exciting teaming environment that Noble Tool has to offer in order to attract the best and brightest employees,” Bowman said. “We want Noble Tool to be one of the manufacturing employers of choice in the Dayton region, and the survey supports that goal.”
In addition to a benchmark within the manufacturing industry, this compensation survey can also attract employees from other industries as well. The upward trend for compensation can draw employees from industries that the manufacturing industry competes with.
Erbaugh said she believes that if companies are going to attract any workers, they have to compete with all companies, no matter what the size of those competing companies. And manufacturers are often competing with logistics and distribution businesses in the Dayton area, she added. “Our members are competing with all industries for employees.”
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