Die Casting Industry Wages slowed in 2009.
Press Release Summary:
Specifically designed for die casting industry, 2009 NADCA Annual Wage and Fringe Benefit Survey represents 39 companies in die casting industry nationwide. This year, the typical participating company had annual sales of $16 million per year, utilized 16 die casting machines, and employed 88 full-time direct labor employees. Less than half (23%) reported general wage adjustment in last 12 months, but larger percentage (28%) plan to make general wage adjustment in next 12 months.
Original Press Release:
Die Casting Industry Wages Slowed in 2009
Wheeling, IL - - The results of the 2009 Wage & Benefit Survey have been published. New for 2009, the Survey comes completely downloadable! This is a fast and easy way to obtain such vital information.
The 2009 NADCA Annual Wage and Fringe Benefit Survey is specifically designed for the die casting industry. This survey represents of 39 companies in the die casting industry nationwide with detailed summaries for direct labor employees. In addition, the survey includes: wage rates for 13 key direct labor employees, analysis of insurance coverage, determining compensation standards and selecting fringe benefit plans and insurance.
This data reflects a sampling of the information that can be found in the 2009 Wage and Fringe Benefit survey:
This year, the typical participating company had annual sales of $16 million per year; utilized 16 die casting machines and employed 88 full-time direct labor employees. Six (15%) were union shops. Less than one percent of the total production employees reported were temporary. Nearly 70% of the survey participants total employees were hourly production employees.
Less than half the companies (23%) reported a general wage adjustment in the last 12 months, but a larger percentage (28%) plan to make a general wage adjustment in the next 12 months.
The number of companies providing pension/retirement plans decreased to 28% overall, and the percent providing insurance for retirees was 5%. While most unions do not provide these benefits directly, union shops tend to have a much higher participation for these types of programs compared to non-union shops.
Since it is essential for an organization to thrive, it is important to recruit and retain a top-notch staff in today's highly competitive job market. A company's wage and fringe benefit programs must be competitive in the current workforce. Purchase NADCA's 2009 Annual Wage and Fringe Benefit Survey at www.diecasting.org/publications . Make sure this survey becomes an indispensable tool on YOUR DESKTOP.
Headquartered in Wheeling, IL, NADCA acts as the voice of the die casting industry, representing more than 3,000 individual and 300 corporate members in the U.S., Canada and Mexico. NADCA is committed to promoting industry awareness, domestic growth in the global marketplace and member exposure.
