Engineering and manufacturing lagging behind in salaries
The engineering and manufacturing sector has fallen short of average salary increases this year, although some roels - such as engineering and technical directors and quality inspectors - have witnessed modest increases (11% and 8.6%, respectively).
In spite of these areas of growth, research conducted by recruitment company Reed has revealed that on the whole, the sector is lagging behind. Average advertised salary growth is just 3.3%, compared to the average national salary increase of 6%.
Reed's research comes from analysis of more than 21 million job adverts and asking 5,000 UK workers a range of questions on their salary and benefits - both current and expected.
According to the Engineering Council, 18% of the UK's working population works in engineering and manufacturing, at around six million.
Salaries in engineering and manufacturing are still substantially more than the national average, with engineering and manufacturing roles paying an average of £50,800, compared to the UK-wide equivalent of £38,900. Despite this, nearly a quarter (22%) of the industry’s workers are still unhappy with their salaries, according to Reed’s survey. 60% of those who are unhappy with their salary say it’s because they don’t feel that it’s risen in line with cost of living.
“The UK has been trailing behind in recent years when it comes to our engineering and manufacturing offering," said Kimberly Hunsdon, Engineering and Manufacturing Recruitment Expert, Reed. "A poor reputation in the hiring process can deter potential talent in a closely-knit sector like manufacturing, where word of mouth and professional networks are influential. We’re actively trying to attract workers into the sector, but with salaries lagging behind the UK average, there’s a very real threat that we’ll fall even further behind. Even with some salaries increasing, largely, they still fall short of inflation and the increasing cost of living.
“With more than two thirds (68%) of engineering and manufacturing professionals open to new job opportunities, the sector needs to look at how best to incentivise and reward its workers. Our survey showed that alongside salary increases, staff would feel more valued if employers offered additional benefits (26%), more recognition for their achievements (28%) and more flexible working hours (23%).”