SBCA Releases Improved and Simplified Wage & Benefit Survey
Originally Published by: SBCA Magazine — January 9, 2024
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As a component manufacturing (CM) employer, remaining competitive with other employers in your market is a very difficult task. Today’s labor market is incredibly fierce, and having good information about what others are offering can give you a leg up on establishing your own company’s practices. It is critical to know where your organization stands with regard to wages, benefits, and incentives related to the work tasks being accomplished.
One valuable source of such information is SBCA’s Wage & Benefit Survey (WBS). For decades, this survey has invited CMs to share what they do in a secure and completely anonymous way. That data is then aggregated with all other CM participants, and the resulting report provides robust information on everything from hourly wages to benefits packages.
Based on past participant input, this year’s WBS has been pared down significantly to focus only on the most essential pieces of information today’s CM employer needs to remain competitive. The greatest benefit is that the new WBS can be filled out very quickly while still providing significant value. While all CMs are strongly encouraged to participate, participation is voluntary and anonymous. The only way to receive the final report with aggregated information is to participate in the survey!
A minimal time investment now will yield a huge treasure trove of industry-specific data that can help any CM be a more competitive employer. You can access the WBS survey form here: https://www.sbcacomponents.com/2024-wbs. The deadline for WBS submissions is Friday, February 2, 2024.