INDIANAPOLIS—Polymer manufacturing companies are seeing slight improvements in wages, according to the Association for Rubber Products Manufacturers' recently released 2016 Wage and Salary Report.
The report notes that companies are adapting to new or updated policies, and they are being innovated in their use of labor and resources.
The goal of the survey is to allow rubber company executives the opportunity to benchmark compensation for more than 60 job titles specific to polymer manufacturing companies.
Participants can benchmark beginning and average wages overall by company size. The report also includes several operational policies and trends, such as benefits offered, vacation and paid-time off policies, turnover and shift structures.
A total of 199 companies participated in the report, according to Ashley Turrell, APRM operations support specialist. The report is broken down into three sections: general business information; employee compensation job title; and benefits.”
“Overall, polymer manufacturing positions are experiencing an average 2 percent increase in compensation compared to our 2015 study,” Turrell said. “Businesses are becoming more creative with maximizing their overall effectiveness and efficiency. The employee to supervisor ratio has changed, with more companies switching to a 30:1 rate.
“In addition, more companies are adopting an around-the-clock shift structure with over 80 percent running either three or four shifts. While the new overtime rule has stirred up a lot of conversation, only five positions in this study will be affected by the change, and the difference between the new threshold and the current median salary is fairly small.”
The full 2016 Wage and Salary Report can be purchased and downloaded on the ARPM website at www.arpminc.com.
The ARMP, established in 2010, is managed by rubber business leaders and has more than 80 members.