The North American Die Casting Association has released its 2009 Wage & Benefit Survey, with results drawn from 39 companies in the market segment. It details the employers’ wage rates for direct labor employees. It also gives analysis for insurance coverage and determining compensation standards, benefits plans, and insurance.
The purpose of the annual study is to give diecasting companies information that will help them establish wage and benefit programs that are competitive for the current workforce.
The 2009 Annual Wage and Fringe Benefit Survey is available for purchase and download at www.diecasting.org/publications.
NADCA is the trade association for diecasting companies in the U.S., Canada, and Mexico, and represents over 3,000 individual and 300 corporate members.
The group indicated that companies participating in the 2009 study had average annual sales of $16 million. On average, they operated 16 diecasting machines each and employed 88 full-time direct labor employees. Of the group, six shops (15%) had unionized workers, and less than 1% of the total production employees reported in the study were temporary workers. Nearly 70% of the employees represented by the companies in the study were hourly production employees.
NADCA also indicated that 23% of the companies in its study reported a general wage adjustment in the last 12 months. However, 28% of the companies expect to make a general wage adjustment in the next 12 months.
Only 28% of the companies in the study provide workers with pension/retirement plans, and only 5% percent provide insurance for retirees. NADCA indicated that the unionized shops in its study have a higher rate of participation with such programs than non-unionized shops.
NADCA Releases 2009 Wage/Benefit Survey
Survey presents comparative data on compensation among North American diecasters