The Manufacturing Experience: Compensation and Labor Market Competitiveness

Overview

The Manufacturing Institute and Colonial Life were interested in learning more about companies were competing for talent in a very tight labor market. In data and conversations, manufacturers continue to recount the difficulties that they are having with attracting and retaining workers. Compensation practices have needed to adapt—sharply for some companies—considering the local and national competition for workers, but companies cannot solve these challenges simply by increasing wages and benefits alone. As such, manufacturing firms have turned to other methods to address the skills shortage at their companies. This paper provides an overview of what some companies have done with the goal of helping other companies learn from their experiences.

MI Research Partners

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